What Does Estimated Need Mean?

Colleges use a student's EFC to determine a family's financial need. That need is calculated by subtracting the EFC from an institution's cost of attendance for one year, which includes the college's tuition. ... There is no maximum EFC, so it can range from zero to any number.

What does estimated need mean financial aid?

January 17, 2020. Financial need is the difference between cost and ability to pay. Demonstrated financial need formalizes this concept as the difference between a college's cost of attendance (COA) and the student's expected family contribution (EFC).

Why does it say estimated financial aid?

In general, the term estimated financial assistance, as defined for the Campus-Based Programs and TEACH grants, refers to aid from the FSA programs, as well as grants, scholarships, loans, and need-based employment that you can reasonably anticipate at the time you award aid to the student, whether the assistance is ...