1. What is FAFSA Financial Need?

Financial Need is the difference between your school's Cost of Attendance (COA) and your Expected Family Contribution (EFC). This determines your eligibility for need-based financial aid programs.

2. How Does the Calculator Work?

The calculator uses the basic financial need formula:

Where:

• \( COA \) — Total cost of attendance (tuition, fees, room, board, etc.)
• \( EFC \) — Expected family contribution from FAFSA results

Explanation: This simple calculation determines how much need-based financial aid you may qualify for.

3. Importance of Financial Need Calculation

Details: Understanding your financial need helps you plan for college costs and identify what types of financial aid you should pursue (grants, scholarships, work-study, or loans).

4. Using the Calculator

Tips: Enter your school's total Cost of Attendance and your Expected Family Contribution from your FAFSA results. Both values should be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Where do I find my COA?
A: Your school's financial aid office provides the official COA, which includes tuition, fees, room, board, books, supplies, and personal expenses.

Q2: What if my EFC is zero?
A: If your EFC is zero, your financial need equals the full COA, making you eligible for maximum need-based aid.

Q3: Can financial need be negative?
A: No, if EFC exceeds COA, your financial need is zero (you don't qualify for need-based aid but may still get merit-based aid).

Q4: Does this guarantee I'll get this much aid?
A: No, this calculates your eligibility but actual aid depends on available funds and school policies.

Q5: How often should I calculate this?
A: Recalculate each year as COA and EFC may change. File FAFSA annually for updated EFC.