Fafsa

Paying for College
1

<p>Well in general, how does FAFSA work?</p>

2

<p>When you file the FAFSA, the formula determines whether you qualify to receive certain kinds of federally determined financial aid. The colleges let you know which of those kinds of aid they administer, and include those in your financial aid package. You have the right to accept or turn down each kind of aid.</p>

<p>If you want to know how the formula actually works, print it out and work through it on paper: <a href=“http://www.ifap.ed.gov/efcformulaguide/attachments/101310EFCFormulaGuide1112.pdf[/url]”>http://www.ifap.ed.gov/efcformulaguide/attachments/101310EFCFormulaGuide1112.pdf&lt;/a&gt;&lt;/p&gt;

<p>If you want more details about the FAFSA, or to file it, visit: [Home</a> - FAFSA on the Web-Federal Student Aid](<a href=“http://www.fafsa.ed.gov/]Home”>http://www.fafsa.ed.gov/)</p>

<p>If you want to learn more about financial aid in general, see: [FinAid</a>! Financial Aid, College Scholarships and Student Loans](<a href=“http://www.FinAid.org%5DFinAid”>http://www.FinAid.org)</p>

3

<p>FAFSA is the form that determines your eligibility for federal aid. It gives you an EFC-Expected Family Contribution that is really an unfortunate term because few colleges will take it as that. The number is really what qualifies you for the PELL grant, Stafford loans, PLUS, and other federal and sometimes state money. Some colleges also use the EFC for their own financial aid determinations, though the more generous schools usually want a second form as well when it come to their own money.</p>

4

<p>So how do you find out if you qualify for it?</p>