What do EFC, SAR, and FAFSA all mean?
The FAFSA (Free Application for Federal Student Aid) is the federal form that students should complete in order to be eligible for any federally based financial aid. Students need to do this as early as possible, but not until January 1 of the year they plan to attend. The required information entails financial information of both the student and the custodial family for the previous calendar year. Once students complete this, they submit it, and will get a Student Aid Report (SAR) in about 4-5 weeks. This form will contain the Estimated Family Contribution (EFC), which is calculated based on information you provided on the FAFSA, which is intended to be a figure of what a family can reasonably be expected to pay for their child’s education per year.
