When you apply for financial aid, you’ll provide personal demographic information, as well as financial information, such as your family’s federal income tax returns, W-2 forms, bank statements, and information on your family’s investments.
This financial information is used to determine your Expected Family Contribution (EFC). Your EFC is an index number that colleges use to determine how much federal financial aid you’re eligible to receive. Your EFC is calculated according to a formula established by law and the information from your FAFSA®.
Your eligibility for aid depends on your Expected Family Contribution (EFC), your year in school, your enrollment status, and the cost of attendance (COA) at the school you'll be attending. The COA is the estimated cost to attend for one academic year and, if you attend at least half time, can include tuition, books, supplies, transportation, room and board, and other education-related expenses.