FAFSA and EFC
Both undergraduate and graduate college students in the United States may re-submit a Free Application for Federal Student Aid (FAFSA) to help determine what kinds of federal student financial aid they are eligible to receive. These financial aid resources are usually in the form of grants, loans and work-study programs.
Submitting the FAFSA also allows colleges and states determine other sources of financial aid. The application is made up of questions that basically help determine whether or not students have the resources to attend without financial aid. The income information derived from the FAFSA is used to help determine the student’s Expected Family Contribution (EFC) by factoring in the family’s income, size and assets.
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