questions & answers

What is Estimated Family Contribution (EFC)?

By College Raptor StaffLast updated on December 22, 2022

The Estimated Family Contribution or EFC is a calculated measure of your family’s financial strength. It is an index number that colleges use to determine your eligibility for different need-based financial aid programs. What EFC is NOT: Your EFC is not an indication of the amount you or your family are liable to pay towards …

questions & answers

How Is EFC Calculated Exactly?

By College Raptor StaffLast updated on December 22, 2022

EFC (click here to check out more acronyms) or Estimated Family Contribution is calculated using the information that you provide on your Free Application for Federal Student Aid (FAFSA and CSS) application. The calculation is done according to a formula established by the U. S. Department of Education’s Federal Methodology Calculation. It takes into account the …

questions & answers

Should I Focus on One Scholarship Category or Several?

By Allison WignallLast updated on December 22, 2022

Once you’ve found something that works, it can be hard doing it any other way. So when a student finds their talent, skill, or unique factor that can be used in their scholarship search, they might only search for those relevant opportunities. For example, if a student is on their school’s student council, they may …

questions & answers

Fun Things To Do With Your Money If You Didn’t Repay Your Student Loans

By Ellen AndersenLast updated on December 22, 2022

Student loans can be very harsh. So many students have to take them out, and loans add up quickly. The average debt for college students is currently up to $37,000. But if that were all suddenly forgiven? What if you didn’t have to repay your student loans? What would you do with the money? That …

questions & answers

What Are College Tuition-Reimbursement Programs?

By College Raptor StaffLast updated on December 22, 2022

Tuition-reimbursement programs are a special type of repayment plan where employers offer to reimburse their employees’ education expenses. In most cases, employees who choose to participate will have to pay out of pocket for the courses they take. They then get back some or all of their tuition expenses, depending on their company policy. Why Do …

questions & answers

What Is Tuition Assistance?

By Hilary CairnsLast updated on April 12, 2024

Tuition assistance programs are employer or organization sponsored programs that help students pay for college. They can be a great way to upskill employees while also increasing job satisfaction, pay, and opportunities for both the employer and the employee. Below, we cover what you need to know about tuition assistance and how you might be …

questions & answers

Paying for College Without Taking Out Student Loans

By College Raptor StaffLast updated on December 22, 2022

Paying for college without taking out student loans may seem like an unattainable dream. It’s not just the huge tuition fees that you need to take into considerable. There’s also the cost of books, room and board, and other incidentals. Is it even possible for anyone to bear all of these expenses without taking a …

questions & answers

Can A Scholarship Expire?

By Hilary CairnsLast updated on December 22, 2022

When applying for a scholarship (or after you’ve been awarded one), it’s important to understand how their specific terms and how they work. One question you might be asking yourself is “Can they expire?” Here’s what you need to know about expiration dates and your scholarship: Can They Expire? Some students who win scholarships wonder …

questions & answers

Are Scholarships Considered Taxable Income?

By Allison WignallLast updated on December 22, 2022

Money always seems to be fraught with complications. Who wants to worry about taxes while figuring out financial aid and how to pay for your college education. Hopefully, this article will help clarify and simplify some questions you may have. So, are scholarships taxable income? It depends on what you use their funds for. Tuition …

questions & answers

Can a Student Receive Both Merit-Based and Need-Based Aid?

By Allison WignallLast updated on December 22, 2022

While you’re applying to financial aid, you may come across need-based and merit-based aid. What do those two terms mean though? Need-based aid is awarded on the basis of financial need. Students can (and should) file the FAFSA to discover need-based award opportunities. Those come in the forms of scholarships, grants, work studies, and loans. …