Fafsa Efc Code Chart
Fafsa Efc Code Chart. The CPS calculates a contribution from available income and a contribution from as- sets. This is a number/index that is used to determine Financial Aid Eligibility by the College Financial Aid Office ("FAO").
The Expected Family Contribution (EFC) is a number that determines students' eligibility for federal student aid. The Free Application for Federal Student Aid, or FAFSA, is an application that families or individuals complete to apply for federal grants, loans or work-study funds for college tuition and fees. A student may submit a FAFSA: • by using FAFSA on the Web, • by filing an application electronically through a school, or • by mailing a FAFSA to the Central Processing System (CPS).
This Expected Family Contribution (EFC) calculator will help you determine your need-based aid eligibility based on federal financial aid formulas.
According to the FAFSA official site, "The Expected Family Contribution (EFC) is a measure of your family's financial strength, and is calculated according to a formula established by law" The EFC will be expressed as number equivalent to a dollar amount.
While most of these jobs are catered to students, giving them flexible hours and time to study, their pay is often low and any money earned is directly applied toward tuition and fees. You can find your EFC on the first page of your Student Aid Report. Keep in mind that a student's enrollment status, such as half-time or full-time, changes the Pell amount for which the student is eligible.
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David Holt
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