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Your (Financial Aid) Questions: Answered!

Your (Financial Aid) Questions: Answered!

This has been great to listen to from so many excited admitted students, but we know that numerous families still have actually lingering financial aid questions. We thought it might be useful to compile a list of the common questions we have received and have actually the Office of school funding respond. Please see the post below for responses to questions that are common may have about financial aid at USC:

Why is the EFC based on USC different than the EFC reported on FAFSA?

The information you provided on the FAFSA is used to calculate eligibility for federal student aid (including Pell give, Stafford Direct and Perkins Loans, and Federal Work-Study), utilizing a formula referred to as Federal Methodology (FM). FM takes into consideration:

• Total income (taxable and nontaxable).
• Asset equity (not including the family’s home and/or business or farm, if the household is just a majority owner with less than 100 employees).
• Allowances for basic cost of living and retirement.
• Family size and number of children in college.

Eligibility for university grant funding and other university need-based aid is determined by firmly taking into account the excess data provided on your CSS PROFILE, federal income tax information along with other supporting papers, using a formula referred to as Institutional Methodology (IM). This formula may include some sources of untaxed income as well as business and home or f Continue reading Your (Financial Aid) Questions: Answered!