Your EFC Number Demonstrates Exceptional Financial Need вЂ“ Zero EFC may be the cheapest quantity
How will you Interpret Your Academic EFC Score for Financial Aid year?
If the modified revenues is significantly less than $24,999 or less for the beds base 12 months, you’ve got a computerized EFC 00000. Crucial, it doesn’t mean you spend absolutely nothing for university, read further to comprehend why.
Next, when your earnings is $49,999 or less you be eligible for the вЂњsimplified needs testвЂќ which means that both the parentвЂ™s and studentвЂ™s assets aren’t counted into the EFC calculation.
There’s two extra conditions of what type needs to be met when it comes to simplified needs test(aside from the earnings qualification).
First, anyone considered within the moms and dad вЂњhousehold sizeвЂќwho received designated means tested federal benefits OR the moms and dad ended up being entitled to file IRS Forms 1040A and/or 1040EZ. 2nd, anybody not necessary to register money income tax return or the studentвЂ™s parent became a worker that isвЂњdislocatedвЂќ