Like most college students, I was convinced I was going to be making the big bucks after graduation. I wanted to work in advertising and to be frank, I never looked up earnings for people in that career. I pictured Hollywood's portrayal of a cool, collected and well-paid advertising executive, and I thought that would be me. I reasoned that I was attending a great school (an Ivy League school, even) and that if my starting annual salary wasn't at least as much as one year's worth of tuition, then what was the point?
Mar 7, 2013 1:53:00 PM
After filing the FAFSA, you will receive a Student Aid Report outlining your Expected Family Contribution (EFC). The schools you choose on your FAFSA to receive your information will also receive your EFC. The difference between the total cost of education at each school and your EFC is called your "financial need." You may feel that your actual need is more than this number - many families do - but this is the figure the school uses to award all federal financial aid. Most schools also use this number for awarding their institutional funds as well.