Why fill out a FAFSA?
The FAFSA (Free Application for Federal Student Aid) is the first step in the financial aid process. You use it to apply for federal student financial aid, such as grants, loans, and work-study. In addition, most states and schools use information from the FAFSA to award non-federal aid.
Why all the questions?
We enter your responses to the FAFSA questions into a formula from the Higher Education Act of 1965, as amended. The result is your Expected Family Contribution, or EFC. The EFC measures your family s financial strength. It is used to determine your eligibility for federal student aid.
Your state, and the school you list, may also use some of your responses. They will determine if you may be eligible for school or state aid, in addition to federal aid.
How do I find out what my EFC is?
We will send you a report, called a Student Aid Report, or SAR, through the mail or the Internet. The SAR lists the information you reported on your FAFSA, and will tell you your EFC.
It is important to review your SAR when you receive it. Make sure all of your information is correct. Make any necessary changes or provide additional information.
How much aid do I get?
Your EFC, along with the rest of your FAFSA information, is made available to all the schools you list in Step Six of the FAFSA. The schools use your EFC to prepare a financial aid package to help you meet your financial need. Financial need is the difference between your EFC and your school s cost of attendance (which can include living expenses), as determined by the school.
If you or your family have special circumstances that should be taken into account, contact your school s financial aid office. Some examples of special circumstances are: unusual medical or dental expenses, or a large change in income from last year to this year.
When do I get the aid?
Any financial aid you are eligible to receive will be paid to you through your school. Typically, your school will first use the aid to pay tuition, fees, and room and board (if provided by the school). Any remaining aid is paid to you for your other expenses.
If you are eligible for a Federal Pell Grant, you may receive it for only one school for the same period of enrollment.
Where can I get more information on student aid?
The best place for information about student financial aid is the financial aid office at the school you plan to attend. The financial aid administrator can tell you about student aid available from your state, the school itself, and other sources.
You can also check out these resources:
www.studentaid.ed.gov
www.students.gov
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