When to run EFC calculators

happymomof1
Tue, 25 Nov 2014 00:03:07 +0000

If you get your paperwork filed as quickly as possible at the beginning of the year, the financial aid offers will come in time to make a decision before May 1. Generally speaking, if the college/university announces who is admitted on April 1, most aid packages are ready then too. BUT if your tax situation changes after filing the FAFSA and/or Profile, so that you have to update it/them, the finalized aid offer can be delayed. Sometimes there are big differences between the estimated and final aid packages. That is one reason why you want to get everything in ASAP.

Everyone’s finances change somewhat from one year to the next. Unless you are expecting a huge difference next year, chances are that this year’s financial information is good enough to get you estimates with the Net Price Calculators. If you do know which way your income and/or savings are headed, and by how much, use your best estimates for those figures when you run the NPCs.