CONSIDER YOUR EXPECTED FAMILY CONTRIBUTION (EFC) The information you report on your FAFSA form is used to calculate your EFC. It’s very important to note that the EFC is not the amount of money your family will have to pay for college. Instead, the EFC is an index number used by financial aid offices to calculate your financial need. The formula they use is: 2
Cost of attendance – EFC = Your financial “need”
Each school will do its best to meet your financial need. Some schools may meet 100 percent of your financial need, and other schools may only meet 10 percent – it just depends on the school and the financial aid they have available that year. You should complete the FAFSA form annually because there are many factors that can change from year to year.
Do you know what to expect after submitting your FAFSA form? Check this list.
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