<p>i filled out my fafsa, and i just recently got an email saying that my Estimated Family Contribution number is 00136. and im completely lost regarding what this means… what does this mean? is it bad or good?</p>
<p>I think that’s the number that colleges use to determine how much aid they’ll give you. Theoretically, they would subtract the cost of attendance for the college from your EFC ($136) and what is left is your need, which the college will try to meet with grants, loans, work-study, and other forms of financial aid. However, many colleges can’t afford or won’t promise to meet all of your need. You might end up with a “gap” (between your FAFSA’s EFC and the amount of aid awarded) and have to fill that in at some point with separate loans or your own money if you have any of that.</p>
<p>It all varies based on the college though. The good news for you, such as it is, is that your EFC is low enough for you to qualifiy for the best possible financial aid. The bad news is that if your EFC is that low then you’re probably not wealthy enough to avoid loans at any expensive college that uses loans in aid.</p>
<p>Yeah… well, in nearly all cases more money is better than less money, so a low EFC means you probably have not-much-money. Good news is, you may be eligible for decent need-based aid. Bad news is, with the exception of a few colleges, it probably still won’t be near enough.</p>
<p>You will qualify for some free money, but probably not enough to cover all your college costs. </p>
<p>Some states also give aid, what state are your from?</p>
<p>Most schools cannot meet need. Which schools did you apply to?</p>