My effc number is 5700 what does this mean?

This means that you will be expected to pay $5700 of your college costs each year (or each semester? I'm not sure). Basically, in terms of financial aid it means you're not going to have it so easy.

Your school costs $50k--this does NOT mean that you will only pay $5700 and the school pays the rest. Don't get excited.

Why do you want to go to a college that costs 50,000 dollars? You really want to pile up an extremely huge debt that you won't be able to pay back? Who is teaching you people, my god your going to ruin your life.

(Also, financial aid has a max. You can only get awarded so much in loans, grants, etc. It WON'T be enough to cover your full 50,000 dollars. You could have an efc of 0 and not have enough aid to cover even half of that amount.) This means you best be rich, realy rich, if you think you can attend a $50,000 college. Also, lastly, in loans, their is a max on them....you hit that max they won't allow you to take out any more loans...example, max is 100,000 (cumulative, not per semester), and you borrowed that much and need to borrow another 50,000, you can't.

COA - EFC = Financial Aid...sometimes

50,000 - 5,700 = 44,300

This probably won't happen, though. Unless you're a super-whiz kid, athlete and community service-lover with lots of outside scholarships.

Check out FAFSA4CASTER.ED.GOV if you want a rough estimate of what the federal gov't might be able to give you. Also talk to your colleges about what financial aid they can give you, after you've been accepted to them, though.

You'll start to hear back from colleges around May or April, but sometimes later.

If they didn't include it in your acceptance packet, call and ask about financial aid.

Financial aid is for the school year. That's from September 2011-May 2012 (I'm just saying these years, assuming your senior year is 2010-2011).

You get a packet. Some of it is Federal Financial Aid. Some is from your school. If you got outside scholarships/grants, add those in, too (let your college know about them).

It's divided in half.

Let's say your school costs $20,000 to live on-campus.

An example Financial Aid Packet:

Federal College Work Study = 750.00

Federal Pell Grant = 5,300.00

Fed Supp Educ Opp Grant Grant = 400.00

Fed Acad Competitive Grant = 750.00

Federal Direct Subsidized Loan = 3,500.00

Federal Direct Unsub Loan = 811.00

Grant from your college = 7,800.00

State School Fall = 250.00

State School Spri = 250.00

Financial Aid Grant = 1,040.00

TOTAL = $17,851

So, you get grants and scholarships sometimes from your state (if you're poor, like me) and your school (if you're smart, poor, well-known, have a relative as an alumni, and for many other reasons), and you get Federal financial aid.

So, you got $17,851.

$20,000 (COA) - $17,851 (FA) = $2,149 (EFC)

COA = Cost Of Attedance

FA = Financial Aid

EFC = Estimated Family Contribution

You need to come up with $2,149.

First off: DON'T count on the work-study. You don't get that automatically. You have to work during the school year to earn it. You get it only if you work, so you get it in paycheck form and can use it towards anything you want.

So, really you need to come up with $2,149 (EFC) + $750 (WS) = $2,899

Check with your school to see if they have a monthly or semester payment plan. Most do. If not, pay it ASAP or get out a private loans. These need to be co-signed if you have no credit. Parents or friends may do this. You can also look into Parent PLUS Loans which are what your parents would take out, if they have good enough credit. Mine didn't/refused to, and couldn't since they have horrid credit.

For the Unsubsidized loan, you'll have to pay Interest back on it while it accumulates whilst you're in school. For Subsidized, the Gov't pays back the interest on your loan.

As long as you are enrolled full-time during the school year, you don't have to pay back your loans. Once you drop out, go to part-time status, or graduate, you'll get a Grace Period of either 6 or 9 months before you have to start paying back your loans. Private loans are different; don't ask me.

Heck yeah it does!!! I'll be 33 on the 1st next month and 3 is my favorite number.

hi