Search results
Results From The WOW.Com Content Network
If you're relying on federal student loans to help you pay for college, you'll first need to complete your Free Application for Federal Student Aid (FAFSA). The information you provide on the ...
There are a number of free calculators on the Web to help applicants estimate the EFC before filing the FAFSA. Recipients of need-based financial aid must reapply for each year by completing a new FAFSA. The term and concept of Expected Family Contribution was replaced by the term Student Aid Index (SAI) in 2024. [2]
Your Expected Family Contribution (EFC) is pumped out automatically by your Free Application for Federal Student Aid (FAFSA). EFC and FAFSA Problems: When Your Parents Can’t Help Pay for College ...
Using the information submitted on the FAFSA, the U.S. Department of Education calculates a figure called the Expected Family Contribution (EFC). If the EFC is less than the cost of attending a college, the student has a financial need (as the term is used in the U.S. financial aid system).
Colleges are also required to post a Net Price Calculator, that determines for each prospective or current student a personalized Net Price, which is the COA minus need- and merit-based grant aid (not including loans or work-study programs). Financial aid cannot exceed the cost of attendance.
You can also use a college ROI calculator to estimate how much money you can expect to earn after graduation to help inform your school choice. 2. Get the most out of financial aid
After completing the FAFSA, students are presented with a Student Aid Report (SAR). The SAR provides a student with their potential eligibility for different types of financial aid, their Expected Family Contribution (EFC), and a summary of the data a student provided in the application. [14]
[59] [72] Ultimately aid decisions will not be made by calculators, but by humans in the admissions offices. [59] Another tool is the College Board's expected family contribution calculator that can give families an idea of how much college will cost, but not for any particular college. [77]