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What does it mean if your EFC is lower than it was last year in FAFSA?
Wiki User
∙ 11y ago
Your EFC is figured out after you report information about your specific situation on the FAFSA.
It is based on a formula established by law.
This formula considers your family’s taxed and untaxed income, assets, benefits, family size, and number of family members attending college. If any of these things has changed, then your Expected Family Contribution will be different.
Your college figures out how much need-based aid you will receive by subtracting your EFC from your Cost of Attendance.
Your EFC is not how much financial aid you will receive, nor is it how much money you will have to pay for college.
Wiki User
∙ 11y ago
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When is the last day to sign up for the FAFSA?
There are different deadlines for different programs. You can fill out the FAFSA until June 2014, but it is recommended to fill it out much sooner than that, preferably by March 2013 for the 2013-2014 school year. You will want to check school and state deadlines as well.
What Is The FAFSA Free Application?
Luckily, the FAFSA free application will never cost a student any money to fill out. The results of filling out the FAFSA can help anyone finance their entire education though. A new application must be filed each school year, so a student needs to remember this vital task. Some students will receive more financial aid than others, but every penny helps. For that reason, the FAFSA is one of the best tools for students that need money to attend college.
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Personal loans should have a lower interest rate than student loans.?
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Fafsa loans have a much lower interest rate than a loan you will get from the bank. Also, with fafsa a portion of your loan will be subsidized so you do not have to pay interest on that part. If you are already attending college talking to your financial counselor is the best bet.
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