1. What is FAFSA Financial Aid?

FAFSA (Free Application for Federal Student Aid) financial aid represents the difference between a college's Cost of Attendance (COA) and your Expected Family Contribution (EFC). This determines how much financial assistance you may qualify for.

2. How Does the Calculator Work?

The calculator uses the basic FAFSA formula:

Where:

• \( COA \) — Total cost of attendance (tuition, fees, room, board, etc.)
• \( EFC \) — Expected family contribution (calculated from FAFSA form)
• \( Aid \) — Financial aid you may qualify for

Explanation: This simple subtraction shows the gap between what college costs and what your family is expected to pay.

3. Importance of Financial Aid Calculation

Details: Understanding this calculation helps families plan for college expenses and identify potential funding gaps that may need to be covered through scholarships, loans, or other means.

4. Using the Calculator

Tips: Enter COA (from your college's financial aid office) and EFC (from your FAFSA Student Aid Report). Both values should be in dollars.

5. Frequently Asked Questions (FAQ)

Q1: Can financial aid be negative?
A: No, the calculator shows $0 if EFC exceeds COA, as you wouldn't qualify for need-based aid in that case.

Q2: Where do I find my COA?
A: Each college provides its COA on their website or financial aid materials - it varies by institution.

Q3: How is EFC determined?
A: EFC is calculated from your FAFSA data including income, assets, family size, and number in college.

Q4: Does this include all types of aid?
A: This calculates need-based aid. Merit scholarships and other aid may be available beyond this amount.

Q5: What if my aid offer is different?
A: Colleges may adjust packages based on available funds and institutional policies.