Let’s Talk FAFSA Video: EFC, Separate Accounts, Dates, and More

Trillions of photos and videos are taken every day. Did you know that? Literally trillions. Billions of videos are watched on YouTube daily too. Smartphones are capturing our “pics or it didn’t happen” lives and as such, people are communicating and learning differently.

To try and keep up with the trend, we’re creating short videos to complement our articles. That’s right! Our Smart College Visit team is stepping in front of the camera to talk about the facts and hot topics that matter most to you as you navigate your college admissions experience. First up? Our FAFSA video! Why? Because this topic continues to be front-and-center because over $2 BILLION in free money went unclaimed in 2018 by college students. And we want to see that number DROP!

FAFSA Basics

Just a reminder: the FAFSA is the Free Application for Federal Student Aid. It’s the governmental form that pulls together the information to determine your college financial aid needs. For most families, it takes about 15 minutes to fill out.

RELATED: FAFSA and Divorced Parents: Who Fills It Out?

The government then works their formulas and sends the information to the specified colleges and universities. Those schools will then prepare financial aid packages ahead of the next school year. So while October 1 for the 2020-2021 school year seems early, it’s the time to get this done with for next year (yes, even if you don’t know which college you’ll be attending).

EFC

That Estimated Family Contribution can be worrisome. Want to figure out what your EFC might be, just to get a handle on money? Check out this Financial Aid calculator from FinAid.org.

Like our FAFSA video? There’s more to come! Be sure and subscribe to the Smart College Visit YouTube channel to get alerts when we put a new video up. We’ll also be writing about them (of course) and sharing them on Facebook and Instagram.

As always, send us your questions via social and we’ll follow up!



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