Wednesday, January 24, 2018

FAFSA Done? Now What?

Several weeks after a parent and student completes the FAFSA, a letter will come in the mail from the college (s) that you stated on the FAFSA that you were interested in attending.  This letter is called an "Award Letter."  This letter tells you a couple of things:


  1. Expected Family Contribution (EFC)- Roughly, this is the Federal Government and the college saying "We think you can afford to pay this much."  This amount does not include student loans that are being offered through the financial aid offer.  These folks consider loans to be a part of the aid package.  EFC is your responsibility after that has been taken out.
  2. Financial Aid Breakdown- This how much money that the Federal Government and the college are going to give to go towards educational expenses (Stafford Loans- both subsidized and unsubsidized, Pell Grant funding, any money from the college).
To learn more about the specifics with an award letter, here is a helpful tool:

Posted by at