should I even be going through the hassle of applying for aid?

Check out this article from the Forbes website to learn more about EFCs: https://www.forbes.com/sites/troyonink/2017/01/08/2017-guide-to-college-financial-aid-the-fafsa-and-css-profile/#321a4c554cd4

The tables in the article are from 2017-2018, but should give you a basic understanding of how EFCs are calculated.