the key is to know the rules of the game

 

having said that, it is very important for parents to understand 2 formulas to calculate EFC (Expected Family Contribution )when it comes  FAFSA  time.

There are two main formulas used to determine a student's eligibility for financial aid —the "Federal Methodology" (FM) and the "Institutional Methodology" (IM).

The FM is used to calculate the student's eligibility for federal aid, such as Pell grants, and most types of state aid. It's used by most public universities. Many private colleges and scholarship programs use the IM to determine the student's eligibility for their own grant funds.

The two methodologies may compute very similar or very different contributions depending on the student's circumstances.