I am not sure about EFT, their website should tell you though. If you are thinking of going in May you best book to get your visa interview at the embassy ASAP. But prior to doing that you need to register with the TSA and SEEVIS, and you can only do that after you have picked an FTO as they have to do some paperwork for you to take to the embassy, plus you need to wait for your TSA papers and SEEVIS papers to turn up. If you start now you should get your TSA and SEEVIS papers by the end of March. By then you might struggle to get the M1 VISA issued in time.
Have you also got an FAA PPL or an FAA temporary airmans cirtificate and FAA medical? If not that is another few months worth of paperwork between the CAA the FAA and FISDO that you choose to collect your FAA papers from.
Without an FAA PPL or an FAA temporary airmans cirtificate you would only be able to fly with student privelages.
If you don't already have an FAA medical then you will have to get one when you get there. And you will need to get finger printed before you can fly.
All in all you have a lot of paper work to crack on with, with minimal time if you want to go in May.
Gary