Jason’s Story Jason was accepted at State College and Private U, but he needed help paying for college. Jason completed a financial aid application for both schools, and he and his parents submitted a FAFSA. When Jason received his Student Aid Report, he saw that his Expected Family Contribution (EFC) was $8,000. Jason and his family knew that this was the amount they would be expected to pay for Jason’s college the following year. By subtracting his EFC from the cost of each college, Jason was able to determine his financial need at both Private U and State College. Private U State College Cost of the college $38,000 $20,000 Minus EFC amount $8,000 $8,000 Financial Need $30,000 $12,000 In March, Jason received award letters from both colleges. These letters explained the financial aid package each college was offering him. Private U Package State College Package Scholarship $5,000 -0- Grant $7,000 $7,000 Loan $18,000 $5,000 $30,000 $12,000 Not wanting to borrow $18,000 for his first year of college, Jason decided to go to State College. Financial aid can be confusing, but high school counselors and college financial aid administrators can help you figure it out. There is also great information online at www.studentaid.ed.gov and www.finaid.org. College is an investment in your future! College InfoGuide Paying for College www.woodburnpress.com Copyrighted Material 615-17 WOODBURN PRESS This digital publication was presented by: ©Copyright Woodburn Press LLC all rights reserved