subject: Getting A Financial Aid Estimation Form: The Beginning [print this page] There are many peculiarities that are taken into consideration by federal authorities before providing the financial aid to students. The state has to understand what the possibilities of the family are and how much they will need for handling studies in college or at the university. Hence, the financial aid estimation form has two purposes: to understand how much the student actually needs to get to study in college, and how much the state will actually be able to give to his or her family.
The Financial Aid Estimation Form.
1. The first part of the financial aid estimation form is the calculation of expected family contribution (EFC). This information helps assess the eligibility for a certain amount of financial aid; it is done for free and may serve only as an inquiry for the family to know whether they can and should apply for financial aid or not.
2. The figure that the student may get through the calculator of EFC depends on a set of criteria that the student includes in the form: the awaited enrollment to college (it may be full-time, half time and even less), family information (whether the student is dependent or independent, married or not), parent information (the income of parents, taxes they pay and subsidies they are eligible for), student information (the sources of the students income if any, taxes paid during the past year etc.).
3. Finally, the last part of the financial aid estimation form concerns the awaited financial indicators of the college to which the student is willing to apply. Costs for tuition, housing, transportation, books and other supplies, health insurance and other expenses have to be included to check the students eligibility for that category of the college with the further offers on the available aid.
by: Jordon Casinger
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