1. What is Federal Student Aid?

Federal Student Aid is financial assistance provided through the U.S. Department of Education for eligible students to help cover the cost of higher education. The Free Application for Federal Student Aid (FAFSA) determines eligibility for this aid.

2. How Does the Calculator Work?

The calculator uses the basic FAFSA formula:

Where:

• \( COA \) — Cost of Attendance (total estimated cost to attend school for one year)
• \( EFC \) — Expected Family Contribution (calculated from FAFSA data)

Explanation: The formula determines your financial need by subtracting what your family is expected to contribute from the total cost of attendance.

3. Importance of FAFSA Calculation

Details: Understanding your potential federal student aid helps in financial planning for college and determining what additional funding sources may be needed.

4. Using the Calculator

Tips: Enter your school's COA (available from the financial aid office) and your EFC (from your FAFSA submission). Both values should be in dollars.

5. Frequently Asked Questions (FAQ)

Q1: What types of aid are included in this calculation?
A: This calculates your total financial need, which may be met with grants, work-study, and federal student loans.

Q2: Can my actual aid be different from this calculation?
A: Yes, schools may adjust aid packages based on available funds and other factors. This is an estimate only.

Q3: What if my aid calculation is negative?

Q4: Does this include private scholarships?
A: No, this calculator only estimates federal student aid. Private scholarships are additional resources.

Q5: When should I complete the FAFSA?
A: Complete the FAFSA as soon as possible after October 1 each year for the following academic year.