By filling out the FAFSA form will I automatically receive both student loans and scholarships?
The FAFSA form does not award any scholarships or loans. It is a form that allows colleges to calculate your family’s Expected Family Contribution, commonly referenced as the EFC. The EFC is based primarily on your family’s income and the number of students in college for the upcoming academic year. Each individual Financial Aid office will then use the EFC to determine your financial need at their particular school, and then they will offer you federal grants and federal loans accordingly.
Related Questions
- If I am choosing to use an alternative loan instead of federal student loans do I still need to file the FAFSA form?
- When is the Free Application for Federal Student Aid (FAFSA) form due? When is the filing deadline for SNHU?
- By filling out the FAFSA form will I automatically receive both student loans and scholarships?
