<p>Given that a student has submitted their FAFSA to every college by Jan. 20 (well before most FAFSA deadlines), and submitted all other finaid materials before the respective deadlines....</p>
<p>How would a FinAID Officer evaluate such an application...</p>
<p>Will the student be expected to pay more than the EFC, given its about 20k??? </p>
<p>Are there cases where FinAID provides money so that you pay less than EFC???</p>
<p>Generally, do they consider the scholarships you received from the university, or just your need status???</p>
<p>Say I get no scholarships........Should I expect to pay the amount given by the EFC...in terms of flat rate tuition???</p>
<p>
[quote]
How would a FinAID Officer evaluate such an application...
[/quote]
For FAFSA based schools they take the FAFSA generated EFC away from the school COA (Cost Of Attendance) - the difference is your 'need' and the financial aid package is based on this need. eg COA = $25,000 less EFC 20,000 = need of $5000. Financial aid would be based on the 'need' of $5000. The aid could be in the form of grants, loans, work study or any combination of the three. If the school is not one that meets full need there may be a gap between the aid offered and the need. (ie they may not meet your full $5000 need).</p>
<p>Schools that require CSS/Profile use the FAFSA EFC for federal based aid but CSS/profile for institutional aid. The CSS/profile often produces a higher EFC though may produce a lower one.</p>
<p>
[quote]
Will the student be expected to pay more than the EFC, given its about 20k???
[/quote]
Possibly. If school is not one that meets full need. Also if school uses profile their EFC may be calculated differently.</p>
<p>
[quote]
Are there cases where FinAID provides money so that you pay less than EFC???
[/quote]
Not generally. If you have scholarships that exceed your need you may pay less than the EFC. Need based aid cannot be more than COA less EFC. Again profile EFC may be different.</p>
<p>
[quote]
Generally, do they consider the scholarships you received from the university, or just your need status???
[/quote]
When calculating your need it is reduced by any scholarships. So if your need is $5000 and you have a $3000 scholarship your need is now only $2000. If you have been offered a financial aid award and you subsequently get another scholarship you financial aid award will be reduced. Generally schools will reduce the 'self help' portion first - loans and work study.</p>