4416 is the yearly contribution. The school should try and get you enough financial aid/ loans/ student employment to supplement your EFC to reach the expected tuition cost. Good Luck with school!
The EFC is for the entire school year, not per semester/quarter. That is your expected contribution for the entire year.
Ummmm i don't think it works like that. I've been getting financial aid for 2 years now, my EFC was 2,000 something but I never actually had to pay any money..
Total cost of attending school is figured by calcluating the cost of books, classes, but also living expenses associated with going to school. So while books and classes may only cost 4,000 for the year, the cost of attending is like 8.000 for the year. (Those are fake numbers i'm just guessing)
So if they decide to give you 5,000 in loans and grants, your EFC will be 3,000. You don't have to pay 3,000 dollars to anyone, thats just what they expect you to contribute. That 5,000 would pay for your books and classes and you would have a thousand left over for living expenses.
Like I said, our EFC was like 2500 or something like that and I get about 1,000 a semester left over after books and supplies.
4416 is for the whole year. But just because your EFC is 4416 doesn't mean that you will have to pay that much. All schools use the number differently. Contact your school's financial aid office and talk to someone there.
This article contents is post by this website user, EduQnA.com doesn't promise its accuracy.
More Questions & Answers...