Instructions – FAFSA4caster
Module 1: Unit 1
Overview
High school seniors planning to apply for financial aid cannot complete the FAFSA (Free Application for Federal Student Aid), which may be completed freely at the U.S. Department of Education Student Aid website, until the opening of the FAFSA filing period on October 1 of the year prior to when the student will be requesting financial aid. However, completing the FAFSA4caster early in the college planning process is essential in guiding your college and scholarship research. As a result of your family income, you may qualify for need-based financial aid. If not, you may only be considered for merit-based scholarships. Completing the FAFSA4caster will provide an estimate of how much you will be required to pay for college— your Expected Family Contribution (EFC).
Objective
Compute your EFC (Estimated Family Contribution).
Guiding Question
As you begin the college planning process, what is your family’s EFC?
Materials
Forms/documents: Previous year’s tax returns or income information
Supplemental Reading
How America Pays for College 2018
Student Loan Debt Statistics in 2018: A $1.5 Trillion Crisis
Enrichment
The enrichment unit provides examples of how financial aid award letters vary by a family’s EFC. Samples of actual award letters are provided from Princeton, Amherst, and Harvard.