<p>Hello, I am a first generation college student so obviously I am totally new to this stuff. I have just completed the FAFSA4CASTER form and it says I have an EFC of 1577. What exactly does that mean ? Let’s just say my academic record is pretty solid. Am I any competitive for need-based scholarship?
Thank you for your time.</p>
<p>thats fairly good. that means your family is expected to pay about $1,577 a year for college. You should get a pell grant for around $3000 in addition to any other state or university sponsored grants.</p>
<p>Whether you’re competitive for need-based scholarship is based on the college’s funds and policies. The majority of colleges do NOT meet 100% of students’ demonstrated financial need. Many colleges also have need-sensitive admissions, which means that people with a high amount of financial need have a harder time gaining acceptance to such colleges, which also may not meet their full financial need.</p>
<p>Carefully examine the financial aid information on the websites of colleges that you’re considering. It’s worth it also to pay the $15 to fully access the U.S. News Premium College on-line guide, which will tell you on average what percentage of students’ financial need each college meets.</p>
<p>Unfortunately, the most generous colleges also are the most difficult to gain entrance to – places like Harvard.</p>
<p>It will be vital for you (and everyone else) to make sure that you have a financial safety: A college that you know you’ll gain acceptance to and can afford. For many people --including middle class people – such a college is their local community college that they can commute to from home.</p>