Im filling it out now. And I would like to know what EFC is too
Yeah im filling out my fasfa now and im really confused on some parts although my parents are helping me on it i was wondering whats a efc and how do you know how much financial aid you are recievin
Your EFC (Estimated Family Contribution) is what the government thinks your family can contribute to your college cost..based on the income they make..but below is what helped me fill out my FAFSA..hope is helps!!!!!!
The process for determining federal student aid eligibility is separate from the process of applying for admission to college. The Free Application for Federal Student Aid (FAFSA) is the basic application that is used to apply for federal student aid.
Step 1
Know that applying for financial aid is FREE at FAFSA - Free Application for Federal Student Aid. Anytime you need more information you can visit Federal Student Aid at www.FederalStudentAid.ed.gov or call us at 1-800-4-FED-AID (1-800-433-3243). You can also talk with your high school counselor or the financial aid office at the college you plan to attend. Just remember that financial aid is provided to help students pay for college, so you don't need to pay to apply. You should never have to pay for help.
Step 2
Get a Federal Student Aid PIN. The PIN lets you electronically sign your online Free Application for Federal Student Aid (FAFSA), make corrections to your application information, and more - all online. Go to www.pin.ed.gov to apply for a PIN.
Step 3
Gather your documents. You will need income information like tax returns and W-2 forms. Having these documents will make applying much simpler. For a full list of what you need go to www.fafsa.ed.gov. If you haven't filed your tax return when you're ready to complete the FAFSA, estimate your tax information and correct the information later.
Step 4
Check the deadlines. Although you can complete the FAFSA between January 1 and June 30 of the following year to get federal student aid, deadlines for college or state aid are usually much earlier. Apply online at www.fafsa.ed.gov as soon as possible on or after January 1 to meet the college and state aid deadlines.
Step 5
After you submit your FAFSA, Federal Student Aid will send you a Student Aid Report (SAR) . The SAR is a summary of your data and provides information on the status of your FAFSA, so it's important that you review your SAR, and, if necessary, submit changes or corrections.
Step 6
The colleges you list on your FAFSA receive your information once your application has been processed. Sometimes these colleges need to verify the information that you provided on your FAFSA, so they may ask you to submit tax returns or other documents. This process is called verification. Be sure to submit the documentation to your college by the deadlines or your federal student aid will be delayed.
Step 7
Follow up with your colleges. Make sure the financial aid office at your college has all the information needed to determine your eligibility.
Step 8
Once you have your award information that shows the aid you are being offered, contact your college's financial aid office if you have any questions about the aid being offered.
FAFSA4caster Tip: If you are a first-time applicant, you should review the award information from all of the colleges you applied to and compare amounts and types of aid being offered. Decide which college to attend based on how well the college suits your needs and based on its affordability after all aid is taken into account.
What else should I know?
You can find more detailed information about our programs by reading Funding Education
Beyond High School: The Guide to Federal Student Aid. The guide tells you almost everything you need to know about federal student aid, as well as other means of paying for your education after high school.
FAFSA4caster Tip:
Sometimes students assume they won't qualify for financial aid or sometimes they just don't want to complete the FAFSA because it seems complex or difficult. But you should always apply because you may be surprised by the amount of aid for which you qualify.
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