| Getting ready for college can be a very stressful | | | | Once this information is gathered it is compiled and it |
| time. First you have to pick a school that you would | | | | comes up with your EFC number. Your EFC number is |
| like to attend, picking a major, taking your ACT or | | | | how much the government thinks you should be able |
| SAT tests, and start applying to schools. Parents and | | | | to contribute towards you education based on your |
| students are wondering how they will pay for this | | | | state of residence, household size, number in college |
| expensive education. | | | | and student and parent income and asset information. |
| Every year Congress sets aside money to be given | | | | Next you will need to know your COA or cost of |
| to students in the form of financial aid. To receive | | | | attendance. Each school figures their own COA based |
| this aid students need to fill out more forms to | | | | on tuition, room and board, fees and estimated |
| determine their eligibility. Student aid can be a loan, a | | | | expenses for miscellaneous costs, such as books, |
| grant, a gift, or a scholarship. Most people prefer to | | | | supplies, personal, etc. The amount varies from |
| get grants since these do not have to be paid back. | | | | school to school. |
| In order for the government to decide how the | | | | After you know your EFC and your COA you can |
| money will be distributed more forms will need to be | | | | now find out how much financial aid you can possibly |
| filled out. The first form you will need to fill out is the | | | | receive from the government. First you take your |
| Free Application for Federal Student Aid (FAFSA). | | | | COA and subtract your EFC to get the amount of |
| You can fill this form out on paper, or online. This | | | | financial aid you will need. Once this number is known |
| form calculates the need of each student by | | | | the financial aid office will try and help with as much |
| gathering information about their household, | | | | as they can. Not everyone will get all the money |
| demographic, and financial information. | | | | they need, so it is recommended that you apply for |
| If you are a freshman you will also be required to fill | | | | student loans, gifts, and scholarships to help you with |
| out a CSS Profile Application as well. This is also | | | | your school costs. There is just not enough money |
| available to other students to fill out because it is | | | | for everyone to get all the money they need to |
| another way for the government to obtain the | | | | further their education. |
| needed information to reward the grant money. | | | | |