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What are the two formulas used to come up with EFC?

EFC formulas Used
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What are the two formulas used to come up with EFC?

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The Federal Methodology (FM) is used by all state universities for distributing federal and state financial aid funds. The Institutional Methodology (IM) is used by private colleges for the distribution of private funds. The IM formula, adds back-in some of the families assets etc, that are not included in the FM formula.

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