Question

What does EFC stand for and what is its significance

Answer 1

Answer:

  any of ≥ 314 different meanings

Explanation:

Many acronyms have multiple meanings. "EFC" is no exception.

We suspect you may not be interested in ...

  Evangelical Free Church

  Education for the Children

  Electronic Fuel Control

However, some context would be helpful to providing a useful answer.

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One possible meaning that tends to be important to students is ...

  Expected Family Contribution

This is an amount calculated according to a formula, and based on data supplied by the applicant on a FAFSA form requesting financial aid. The EFC is used by the relevant educational institution to determine the amount of financial aid that they will provide.

Answer 2

An EFC number is the "expected family contribution", or the amount a family is expected to pay for their student's college education. It short, the EFC has an effect on how much federal grant money you will be given for college expenses.