<p>According to the EFC calculator my FM EFC is 13k, while my IM EFC is 7.4k. Since most colleges use the FM if it's higher due to their distributing federal loans, if I got a scholarship which eliminated the need for loans would that allow me to put in an argument to use IM EFC?</p>
<p>I'm not sure I understand your question.</p>
<p>My FM is 13k, and IM is 7.4k. The college has to use FM because it hands out federal loans, but if I get an outside scholarship then theoretically that would eliminate the need for loans. If this happens then could the IM EFC be used instead, increasing my grant $$$ by 5.6k?</p>
<p>The school will use the FM for all federal money. That doesn't mean they have to use the FM for their institutional money.</p>
<p>most publics use the FM exclusively, but privates only use it for distributing federal funds, such as Pell Grants and federally-backed loans. Other than that, privates use their own version of the IM.</p>
<p>Some of the privates do. Only about 350 schools actually use the Profile. The majority of the privates still stick to the FAFSA standard along with the publics.</p>