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Financial Tips: Financial Aid Part 2

🎓 💸 What’s an aid offer and how much aid will I get? If you applied for admission to a college or career school you listed on your FAFSA form, that school will get your FAFSA information. The school will calculate your aid and send you an aid offer (often electronically).

Most schools will wait to send you an aid offer only after they accept you for admission. The aid offer will tell you how much aid you’re eligible to receive at that school and will include the types and amounts of financial aid you may receive from federal, state, private, and school sources. This combination of help from different sources is your financial aid package. How much aid you receive depends on some factors, including:
✅ Cost of attendance (for each school).
✅ Expected Family Contribution (EFC)—the EFC does not represent a dollar amount but, instead, it’s a number used to calculate how much and types of financial aid you’re eligible to receive based on your FAFSA information.
✅ Year in school.

✅ Enrollment status (e.g., full-time, half-time, etc.).

You can compare school aid offers and see which school is most affordable once financial aid is taken into account.
Contact the school’s financial aid office if you have any questions about the aid being offered to you. For more information on how aid is calculated, visit ➡️ https://studentaid.gov/complete-aid-process/how-calculated

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