The Free Application for Federal Student Aid (FAFSA) may be free of charge, but mistakes can be extremely costly! Hundreds of thousands of these applications are submitted incorrectly each year. Check out our FAFSA Tips and Tricks to learn how to avoid those mistakes.
About The FAFSA
The FAFSA uses the Government's methodology for determining your Expected Family Contribution (EFC). This is determined as a function of yours and your parent’s assets, income and financial situation as a whole. This EFC is then subtracted from the Total Cost of Attendance at each school where you apply, to yield your financial need at that school:
Financial Need = Expected Family Contribution (EFC) – Total Cost of Attendance (TCOA)
You may want to use a FAFSA Calculator online that will allow you to estimate your EFC and subsequent financial need. It is important to understand your financial need because it represents a ceiling for Federal Student Aid. After your first year of college, be sure to complete a FAFSA Renewal to renew your eligibility.
There is also the option of hiring using our financial aid solutions to help remove the difficulties associated with this time-consuming form. You may also want to see our useful sites listing to check out other helpful organizations.