Need Analysis is the formula used to calculate student Financial Aid eligibility.  Every accredited college in the United States evaluates Financial Aid "Need" using this formula: COST - E.F.C. = NEED.  Congress enacted this formula in 1965 and passes new regulations yearly.

The following is an example of college costs and need:

	Total College Costs       -	E.F.C.        =	NEED
U of M Twin Cities Campus (Minneapolis, Minnesota)	$23,121	$10,000	$13,121
Northwestern University (Evanston, Illinois)	$51,465	$10,000	$41,465

 

Total College Costs: includes tuition, transportation, books, room & board, etc.  These costs are set by the college and vary from one university to the next.

Family Contribution: is the amount you are expected to pay toward total college costs.  Your EFC is the same at every college regardless of cost.  The EFC value of $10,000 stated above is for illustration purposes only.

Need: is your financial aid eligibility for need-based aid.  It is the difference between Costs and your EFC or FC.  "Need" is dependent on college cost as the above example illustrates.

 

Types of Financial Aid:

• Scholarships (Gift-aid)

• Grants and Awards (Gift-aid)

• College Work Study (Self-help)

• Loans (Self-help)

Our Service Provides Guidance By:

1) Lowering Expected Family Contribution

    (EFC) and Family Contribution (FC)

2) Completion of all required financial aid

    forms

3) Negotiation Advice and Strategies

4) College Selection Strategies