How much financial aid can i get for college
This form is used to calculate the Expected Family Contribution (EFC) and financial need, and to estimate your student financial aid. This is a free service. We do not retain any record of the information you submit using this form, and have taken steps to ensure your privacy.
Before filling out this form, we strongly recommend that you read the caveats .
This form calculates the EFC for a single year, so please enter school costs, scholarships and financial information accordingly.
Each section of this form includes more detailed instructions for the items in that section. For help with a particular question, click on the question mark (?) adjacent to the field label.
After you've filled out the form, don't forget to press the "Calculate" button at the bottom of the form.
If you're intimidated by such a long form, try FinAid's QuickEFC Calculator. It uses
much fewer questions to generate a quick estimate of your EFC.
If you prefer to do the calculations yourself, you can find the 35-page FAFSA Formula Worksheets and Tables at the US Department of Education's web site.
Need Analysis Methodology:
Use Tables for Award Year:
Choose "Federal Methodology" to calculate your expected family contribution (EFC) and financial need using the Federal Need Analysis Methodology used by the Federal processor and school financial aid administrators. Choose "Institutional Methodology" to get an estimate of your financial need using a formula similar to the one used by many private colleges and universities.
If you are an independent student, do not fill in the parent information section, but do add the salary and assets of your spouse to your own in the student information section and provide your family information (not your parents' family information) in the family information section.Source: www.finaid.org
Category: Personal Finance