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9/5/2007
A September 5, 2007 article from The Wall Street Journal discusses the methodology used by colleges to determine whether students will receive need-based financial aid. Although the article indicates that, depending on the cost of the college, families demonstrating a substantial Expected Family Contribution (EFC) may not qualify for need-based assistance, all college students are encouraged to complete and submit the Free Application for Federal Student Aid (FAFSA). The results of the FAFSA are needed in order to apply for some forms of non-need-based assistance (including unsubsidized federal student loans) and, in the event a family's financial situation changes significantly during the course of an academic year, information reported on the FAFSA may be revised by the college's financial aid administrator.
The article is available at the Web site of The Wall Street Journal.
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