Applying for college?
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The Federal Processor will take your income information and put it through a formula which will determine your Estimated Family Contribution (EFC) which is the amount the government believes you can put towards your education – it does not mean you ‘have to pay’ that amount – it is the amount they believe based on what you reported you could put towards educational expenses.
List the several colleges that you are applying to and see what each college will offer you in respect to the Federal Pell Grant, your State Grant, and any other Campus based aid. If you mark on your application that you are interested in Student Loans, they will also award you loan money. As an independent, 1st year student, you should be eligible for a maximum of $8500 in loans.
I would also recommend checking out the college websites to find out what their current year tuition and fee charges are.
Hope this helps you out.