A few days ago
what really is EFC? I dont work so does it mean my EFC is 0?
And does it okay to not answer questions about my father’s income because he just started working a couple of months ago and of course he doesn’t have any income tax return for 2006. I just answered all the questions about my mother’s because I have a reference (her form 1040).
Top 3 Answers
A few days ago
Favorite Answer
EFC is the Expected Family Contribution. It is based on many questions answered on your FAFSA. If your father did not work in 2006 you do not need to report his 2007 income until next year. You will report your mothers only since you did not work in 2006. The income, investments, savings account balance, etc. will all be taken into consideration to determine you EFC.
Your EFC can be based on your income only (not your parents) if you are an independent student. To find out if you qualify as an independent student go to this website. It has all the possible situations you must be in to be considered an independent. http://www.salliemae.com/get_student_loan/apply_student_loan/understanding/financial_aid/dependency/dependency.htm
It is a bit late to be filling out your FAFSA for this school year. It is best to get it done in January or February of the year you will be attending college. When you fill it out for the next school year* (Fall of 2008) you will have to add your fathers new income from 2007.
* Your FAFSA must be updated every year.
Good luck to you in college!
0
A few days ago
Expected Family Contribution. This means based on your income, you are not expected to contribute to the cost.
0
A few days ago
Expected family contribution and Its not about you alone its your parents too.
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