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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 ...
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 ...
Zero is the lowest EFC number (indicating that the family cannot afford to pay anything) and 999,999 is the highest. Some relatively wealthy colleges and universities use another method called the CSS Profile , or have their own form, to calculate their own version of an EFC, which they use in distributing the college's aid.
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 FAFSA Deadline Act in 2024 made the October availability date part of the law. [8] The 2016–2017 academic year was the final time the FAFSA was not made available until January 1. [7] Two-year old US tax information is used to complete the financial sections of the FAFSA beginning with the 2017–2018 academic year.
All major revisions outlined in the FAFSA Simplification Act will take place during the 2024-25 FAFSA cycle, which opened on Oct. 1, 2022, and ends June 30, 2025. These are the main things to be ...
Around 2010, about 10 percent of college students attended for-profit colleges, but almost 40 percent of all defaults on federal student loans were to for-profit attendees. [8] The schools whose students have the highest amount of debt are University of Phoenix , Walden University , Nova Southeastern University , Capella University , and ...
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