It's Your Key to Federal Financial Aid
The FAFSA®season approaches fast for many families, but you should NEVER complete and submit your FAFSA® without knowing what your EFC is first. Once you commit your financial status on the FAFSA® your opportunity to use strategies to increase financial aid is gone.
It's Required To Receive Financial Aid
Your EFC is a requirement for almost all need-based financial aid programs. NO college will offer financial aid without an estimated EFC calculated from your FAFSA®.
COLLEGES REQUIRE IT FOR THEIR MERIT SCHOLARSHIPS
Many colleges will not offer merit scholarships without an estimated EFC calculated from the FAFSA®. These colleges will dictate the amount of their merit offer based on the family’s EFC.
COLLEGES REQUIRE IT IN THEIR ADMISSIONS PROCESS
Many colleges base their admissions on the family’s ability to pay the tuition bill as much as the student academic ability. Some colleges will put the student on their WAITING LIST for admissions without an estimated EFC from the FAFSA®application.
YOU CAN DEVELOP STRATEGIES IN ADVANCE
There are financial strategies that can cut your EFC amount and qualify your student for more grants and scholarships, but you MUST know your EFC amount in advance in order to plan ahead.
YOU CAN DEVELOP A PRICE NEGOTIATION PLAN
Knowing your EFC in advance will allow you to pick other ideal colleges to obtain grant and scholarship offers in order to use those awards to negotiate the price with a college, or colleges, the student would rather attend.