How Colleges Compute Financial Aid?

<p>I see that both two schools my son is considering are on this list but they determine need on an “institutional methodology” but that methodology came up with a 10k spread on EFC and I still can’t figure out why. One college, efc is 47, other college the estimated Need is at 37. I have no idea why the difference.</p>

<p>It makes me think that while two schools can both say they meet demonstrated need based on the EFC, they can arrive at a figure that is very different.</p>