WebLet’s say your expected family contribution is $30,000. If School A has a COA of $40,000 and School B has a COA of $55,000, your financial need would look like this: School A: … WebEFC is calculated by looking at how much money your family has, how big your family is, and how many people in your family are in college. The federal government uses a formula called Federal Methodology to determine your eligibility for federal financial aid. Many colleges use a formula called Institutional Methodology to determine your ...

What Does My EFC Number Mean, Really? - College Initiative

WebApr 11, 2024 · At the federal level, your total financial need is reduced by your EFC. For example, if your chosen school’s COA is $16,000 and your EFC is $12,000, your “financial need” is $4,000. That means you will be eligible for $4,000 in federal need-based aid. In addition, your EFC is used to calculate other types of need-based aid including state ... WebApr 11, 2024 · At the federal level, your total financial need is reduced by your EFC. For example, if your chosen school’s COA is $16,000 and your EFC is $12,000, your … shoe cleaner sponge

Financial Aid Calculator - Invite Education

WebNeed-based aid is financial aid that you can receive if you have financial need and meet other eligibility criteria. You can’t receive more need-based aid than the amount of your financial need. For instance, if your COA is $16,000 and your EFC is 12000, your financial need is $4,000; so you aren’t eligible for more than $4,000 in need ... WebApr 12, 2024 · For many schools, the earlier you file your appeal, the better. 5. Determine how much aid you plan to request. Before you start writing your appeal letter, calculate how much financial aid you hope to ask for. If your parents are helping you pay for school, confirm that number with them. WebThe EFC calculators use two different methodologies — federal and institutional. About 270 private colleges use the institutional methodology, which means students applying to these schools will have to fill out the CSS/Financial Aid PROFILE. The schools using the institutional methodology are going to ask more financial questions. racepath sc