Based on the information we have on record for you, your EFC is 1000?

You
may be eligible to receive a Federal Pell Grant and other federal student aid.
Your school will use your EFC to determine your financial aid eligibility for
federal grants, loans, and work study, and possible funding from your state and
school.
OKAY, WHAT DOES ALL THIS MEAN??

Shaneice:

That report that you received was provided by the US Department of Education, but all they are telling you is that you have qualified for consideration for certain types of financial aid. They are not the ones who actually determine your financial aid award - and - as they've indicated to you, your school will use your EFC score to determine what forms of aid they can make available to you.

The Expected Family Contribution (EFC) score is a financial aid index. The Department of Education uses your FAFSA information to calculate this score, which can be used to compare your financial aid need to any other student. Everyone gets a score on the same "scale", so your school can look at your score and all of the other students' scores, and see, at a glance, which students have the most financial aid need.

Despite the name, the EFC is NOT what you and your parents are responsible for paying for school. You may get someone here who tells you that a score of 1000 means that you and your family will pay $1000 for you to go to school, and everything else will be taken care of for you - and that's just not true.

Your score of 1000 is a fairly low score - the lower the score, the greater the need. In fact, your score is low enough that you are said to have demonstrated "exceptional need", which means that you are qualified for the special forms of financial aid that are only available to the neediest of students. Those forms of aid are called "need-based" aid, and the Pell Grant is one of them.

In fact, the Pell Grant is the one form of need-based aid that you are certain to receive. If you attend school as a full-time student, you are guaranteed to receive a Pell Grant of $4400 for the entire academic year. That money will be sent to your school in two equal payments of $2200 each - one for the Fall and one for the Spring. When your school receives that money, they will apply it to your student account - what you owe the school for your tuition and fees.

There are other need-based aid programs, but only your school will be able to tell you if they have enough of those funds to offer you aid from those programs. Next year, you'll want to be sure to complete your FAFSA before your school's "Priority Aid Deadline", which probably falls in February, March or April. Students who beat that deadline are considered for the greatest possible amount of aid - students who apply after the deadline are usually only offered a Pell Grant.

You will also be offered the opportunity to borrow up to $5500 from the Stafford loan program for the school year. That's the best form of student loan available to you.

All of these mysteries will come together in the "aid offer letter" that you will receive from the financial aid office at your school. They put your aid package together, and they are responsible for communicating with you about the amount of assistance that they can offer. Watch for your letter, and read it very carefully, because there will be lots of instructions about what you'll need to do and how you'll need to respond if you want to get the aid headed your way.

Good luck to you - I hope this helped!

Your EFC if your Expected Family Contribution, so what they say that your family can pay for your schooling out of pocket. This means that you are eligible for Pell Grants and possible state grants as well. But this doesn't mean that it is what you will pay, my EFC was 3350 and I only had to take out a loan for $600. Since you have missed the priority deadline it could be up to three weeks until you receive your award letter from your school. That letter will detail all of the aid that you receive.