 |
Determining financial need
The process of determining how much financial aid you qualify for begins with the Free Application for Federal Student Aid (FAFSA). Using this form, you can apply for all federal and most state and Northwestern College financial aid.
Your expected family contribution, or EFC, is calculated through a standard formula that uses information you and your family provide on the FAFSA. Among the factors taken into account are:
- Your family’s size;
- The number of family members who are in college;
- Whether you are a dependent or independent student; and
- Your and your family’s income and assets. (Assets include cash, checking and savings accounts, investments, ownership of or equity in a business, and real estate other than your family home.)
All this information is part of the formula used to calculate the amount you and/or your family is expected to contribute toward your college education. If your EFC is less than what it will cost you to attend Northwestern College, you may be eligible for need-based financial aid.
If you’re interested in getting an early idea of the financial aid you may be eligible for, use the financial aid estimator located under “Quick Tools” at www.act.org.
|
|
|
|
 Financial aid |
|
|
|
