After you have completed the Free Application for Federal Student Aid (FAFSA), the information you provided is analyzed. The financial information you provided regarding your savings, income and various assets are used in the equation. Other factors such as the number of members included in your family are also considered. Having more than one member of your family in college can have a positive effect on your expected family contribution (EFC). Ideally, you want to have a lower EFC in order to qualify for a higher amount of financial aid. A lower EFC also could qualify you for certain grants or scholarships.
|Jennifer Mathes, Ph.D.|