Do you qualify for a need-based Aid

 

This step of determining is also a complicated process, but should be carefully followed, as this need-based aid is provided to only those families who are deemed unable to meet the financial requirements on their own. So how do you then decide and come to know if you have fulfilled all the requirements needed? To judge your chances it is essential to estimate an Expected Family Contribution (EFC) according to a formula devised by the Government, which is known as the Federal Methodology (FM). Also, there is an official website which solely caters to providing financial aid, and when you will visit this website you will come across a FAFSA4caster tool, which is very similar to an EFC calculator. This tool will help you understand the complexities of the financial aid process better and will also help you in deciphering if you are indeed eligible for any type of federal aid. Also, the tool will let you transfer the information provided in the actual Free Application for Federal Student Aid form once you are all set to complete it.