What’s The Difference Between Submitting an Online FAFSA versus a Paper FAFSA?
An online, also known as the electronic FAFSA is processed in two (2) to three (3) weeks, while the paper FAFSA takes four (4) to six (6) weeks to process. It is strongly recommended that students apply online, because it is the fastest and easiest way to apply for financial aid! However, if you don’t have Internet access, the paper FAFSA is your only choice at the moment. How is FAFSA Used to Determine My Financial Aid need? The federal government uses data provided by FAFSA to calculate a student’s (EFC) Expected Family Contribution. The Financial Aid Office calculates a student’s (COA) Cost of Attendance, which includes tuition, living expenses, miscellaneous fees, books, etc. The mathematics work out like this: (COA) minus (EFC) equals a student’s total financial need. The student and his or her parent(s) then sets about to fund their total financial need with: Grants Scholarships Family Funds Student Loans Work Study Programs Part Time/Full Time Jobs Am I Required To Fill Out a FA
