This article about the student aid report was originally posted here on October 24th, 2016. It was updated and reposted here on October 17th, 2018.
About 2–3 weeks after you fill out the FAFSA financial aid form for your college-bound high school senior or current college student, you’ll receive a Student Aid Report (SAR). One of the things this Student Aid Report will tell you is how much it is believed that your family can afford to pay for college. (Look for the line that says: “Estimated Family Contribution (EFC).”
If you find yourself laughing or crying at how high this number is, you’re not alone. Millions of families feel shocked and stunned at the high Estimated Family Contribution (EFC) listed on their child’s student aid report.
My reassuring words to you? Don’t worry too much about this right now. If you’re following the step-by-step instructions in my book, you’re going to have many strategies you can use during the next year to bring these college costs way down.
(One mom reported in an Amazon review of my book that she only used 1/4 of the book‘s pages starting when her son was in 12th grade, and she still saved thousands on college costs. There’s hope for everyone!)
For now, here are five things to know about your child’s Student Aid Report.
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