How is financial aid eligibility determined?
Laura Inlow
Last Update setahun yang lalu
The Department of Education calculates your Expected Family Contribution (EFC) from the information you report on the FAFSA. The EFC is not necessarily the amount of money your family will have to pay for college, but it is the number used by colleges and universities to determine the amount of and types of federal aid you may be eligible to receive. Your EFC is determined from your household size, base year income (which is 2021 income for the 2023-2024 school year), the number of family members who receive more than half their support from you (independent students) or your parents (dependent students), the number of those family members in college at least half time, and the value of your assets.
You and your family are expected to make a maximum effort to finance college expenses. Financial assistance is meant to supplement that effort.