If I Have a High EFC, Should I Bother with the FAFSA?

A man is holding a FAFSA form - showing a half side of his head on the foreground.

Short answer: YES!

Longer answer: Regardless of your Estimated Family Contribution (EFC) everyone should file the FAFSA. The FAFSA enables students to measure their financial need, and become eligible for federal grants and scholarships, work study programs, and federal student loans.

Always Always Always File the FAFSA

Many students and their families don’t bother filing the FAFSA because they believe they won’t be eligible for any form of financial aid. While families that are more financially needy will likely get more aid, you’re still likely to qualify for something.

When it comes to financial aid, every little bit counts. You should do as much as you can to find funding for your college education. Even families with higher EFC can’t always afford paying everything out of pocket—and given the opportunities available, they shouldn’t have to.

So regardless of your financial situation, file the FAFSA.

3 Repayment Options

Variable rates from 1.13% - 11.23% APR with auto-debit

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The FAFSA Goes Beyond Federal Funding

Though the FAFSA is all about federal aid, it’s actually required of many other financial aid sources too. Most college award letters will require the FAFSA and there are many external merit scholarships that require it as well.

Filing the FAFSA

There’s really no reason to avoid filing the form. It’s free, it won’t take much time, and you can gain helpful federal aid for your efforts. And make sure you file it for every year you’re in college, not just once.

Use College Raptor’s free Student Loan Finder to compare lenders and interest rates side by side!

Rates (APR)	Eligibility
1.13% - 11.23% Variable 3.50%- 12.60% Fixed	Undergraduate and Graduate	VISIT SALLIE MAE
0.99% - 11.99% Variable 2.94% - 12.99% Fixed	Undergraduate and Graduate	VISIT CREDIBLE
1.13% - 11.23% Variable 3.50% - 12.60% Fixed	Undergraduate and Graduate	VISIT LENDKEY
1.51% - 9.09% Variable 3.24% - 11.33% Fixed	Undergraduate and Graduate	VISIT ASCENT
0.99% - 11.98% Variable 2.94% - 12.99% Fixed	Undergraduate and Graduate	VISIT COLLEGE AVE
2.93% - 5.67% Variable 4.35% - 7.15% Fixed	Undergraduate and Graduate	VISIT ISL
0.99% - 11.44% Variable 2.94% - 12.78% Fixed	Undergraduate and Graduate	VISIT EARNEST
1.20% - 11.52% Variable 3.20% - 11.99% Fixed	Undergraduate and Graduate	VISIT ELFi

College Raptor is not a loan lender and does not assume responsibility for suggesting a loan to a user who may not be eligible for it. Rates, terms, conditions, eligibility, approval, and other considerations are the decisions of the lenders and may vary depending on which lender or marketplace the user selects. We urge users to carefully consider and review all loan options and terms before committing to taking out a loan.