<p>Hi!
I have been seeing several questions about what role the FAFSA EFC has in financial aid at USC. To try to help clarify…</p>
<p>USC uses the CSS/Profile - not the FAFSA - to determine need, so at USC the FAFSA EFC is only used to distribute Federal aid.</p>
<p>Federal aid includes (but is not limited to) the Pell Grant, Stafford subs and unsubs loans, Perkins loans, ACG grant, SEOG, Federal work/study etc. When you completed your FAFSA you were given an estimated Pell amount so you already know that. The Junior-year Stafford subs is $5,500 plus $2,000 unsubs. All together these Federal sources of funding are not likely to exceed about $10,000 - $12,000 (and the total is usually less). USC’s cost of attendance is approx $55,500/year, so there will be at least about $40,000 to $45,000 still to be paid after all Federal aid is applied.</p>
<p>So once your Federal aid is figured, forget the FAFSA EFC. FORGET it. It does not predict how much you might receive in USC grants, nor does it predict how much you will be expected to pay at USC.</p>
<p>At USC the CSS/Profile is used to determine if you will receive USC grants, and if so, how much. The CSS/Profile also considers assets, such as home equity, that are not considered by the FAFSA. Very important: If you passed the “simplified needs test” when filling out your FAFSA and were able to exclude assets, those assets will be included on the CSS/Profile and might be assesed for financial aid purposes. This may include business assets, home equity, savings accounts, etc.</p>
<p>For more info, see the <a href=“http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid-2010-a.html[/url]”>http://talk.collegeconfidential.com/university-southern-california/839970-faq-usc-financial-aid-2010-a.html</a></p>
<p>Good luck!!!</p>