1. What is Financial Aid Calculation?

The financial aid calculation determines how much federal student aid you may be eligible to receive based on your Cost of Attendance (COA) and Expected Family Contribution (EFC). This is the basic formula used in the FAFSA (Free Application for Federal Student Aid) process.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• \( COA \) — Cost of Attendance (tuition, fees, room, board, etc.)
• \( EFC \) — Expected Family Contribution (calculated from FAFSA)
• \( Aid \) — Maximum potential financial aid eligibility

Explanation: The formula shows that your financial aid eligibility is the difference between what college costs and what your family is expected to contribute.

3. Importance of Financial Aid Calculation

Details: Understanding this calculation helps families plan for college expenses and determine what financial assistance they might qualify for, including grants, loans, and work-study programs.

4. Using the Calculator

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

5. Frequently Asked Questions (FAQ)

Q1: What if my aid calculation is negative?
A: If EFC exceeds COA, the result will be $0 - this means you're not eligible for need-based aid, though you may still qualify for non-need-based aid.

Q2: Does this guarantee I'll receive this amount?
A: No, this calculates maximum eligibility. Actual aid depends on available funds and other factors.

Q3: What's included in Cost of Attendance?
A: COA includes tuition, fees, room, board, books, supplies, transportation, and personal expenses.

Q4: How is EFC determined?
A: EFC is calculated from FAFSA data including income, assets, family size, and number in college.

Q5: Can I get more aid than this calculation?
A: Yes, through merit-based scholarships, private scholarships, or additional loan options.