How Geneseo Uses Your FAFSA Information

When you complete the Free Application for Federal Student Aid (FAFSA), the information you provide is used in a formula that determines what your Expected Family Contribution (EFC) will be for the year. This figure is referred to as “expected” because it is an assessment of your family’s ability to pay rather than the actual amount that you will pay for the year. Geneseo uses the EFC to determine your eligibility for need-based aid using a simple formula:

Click here for more information on the different types of financial aid.

Cost of Attendance – EFC = Financial Need

Cost of Attendance is an estimate of your total costs of attending school for a year. It includes charges you will see on your bill (tuition, fees, room, and meal plan) and also an allowance for books, supplies, travel, and personal expenses.

Expected Family Contribution (EFC) is the amount of money your family is expected to contribute to your annual costs. Click here if you want to get an estimate of what your EFC will be.

Financial Need is the difference between cost and EFC. If you have need based on this formula, you have eligibility for need-based financial aid; the amount of aid you are offered is limited by federal and state regulations, and by what we have available to offer. Even if you have no need according to the formula, you can get a student loan and your parents can apply for a parent loan to help to finance your contribution.