Why all the questions to get an estimate of my EFC?
The questions asked on FAFSA4caster are required by law to determine your eligibility for federal student aid. Some of the questions are demographic questions, like your name and address. But many questions are asked specifically to calculate your financial need.
FAFSA4caster Tip:
Your responses are inputted into the
Federal Methodology
formula, which is required by law. The result is your
Expected Family Contribution,
or EFC. The EFC is not the amount of money that your family must provide. Rather, you should think of the EFC as an index that colleges use to determine how much financial aid you would receive if you attended their school.
Related Searches:
What if I think I have special circumstances?
What documents do I need to complete the FAFSA4caster?
Do I need to provide parental information to apply for aid?
