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The information you provide on the FAFSA, including your family's assets, will help determine … Continue reading → The post What Is the Expected Family Contribution (EFC)? appeared first on ...
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 ...
An Department of Education document explaining how the EFC is determined was 36 pages long in 2017. [4] It considers income, family size, living expenses, and family and student savings. If the student is a dependent, the student's savings and income, if any, are considered highly available to pay for college.
To qualify for need-based aid a student must have a significant amount of financial need, which is determined by the federal government based on the FAFSA. 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 ...
The Free Application for Federal Student Aid, better known as the FAFSA, has long been due for an update. On December 30, a new version of the form was released – a culmination of changes ...
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]
Many schools and states use the FAFSA to determine student aid. The Free Application for Federal Student Aid, commonly known as the FAFSA , is a form that determines student aid eligibility for ...
According to the FAFSA, the age of independent status is 24 years or more. On the 05-06 fafsa the questions asks if you were born before january 1st, 1981 and on the 06/07 fafsa, its were you born before 01/01/1982. Thus the student needs to be at least turning 24 in that calendar year. This comment is mostly accurate.