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  1. Step 1
  2. Step 2
  3. Step 3
  4. Step 4
  5. Step 5
  6. Step 6
  7. Step 7

Step 3: How much will colleges expect me to pay?

EFC Calulator

Pick a Formula

There are two main formulas used to determine a student's eligibility for financial aid —the "Federal Methodology" (FM) and the "Institutional Methodology" (IM).

The FM is used to calculate your eligibility for federal aid and most types of state aid. For example, it's used by most public universities. Many private colleges and scholarship programs use the IM to determine your eligibility for their own grant funds.

The resulting computations may vary depending on the student's circumstances.