First, it's a Campus-Based Program
The first function of the FASFA is so the U.S. Department of Education can calculate the scholar's Expected Family Contribution (EFC). The EFC helps determine eligibility for a range of authorities applications beyond Perkins, Stafford and Parent PLUS loans, reminiscent of Federal Supplemental Educational Opportunity Grants and Federal Work Study positions. Once the FASFA has been processed, the applicant receives a Student Aid Report and the establishment to which they are applying will obtain an Institutional Student Information Record that includes the EFC info. Because schools have a finite quantity of Perkins funding and it is distributed on a primary-come, first-served foundation, the applying course of should be completed as early as doable. Now that you're conversant in the application course of, let's discover what occurs when you qualify. In 1957, Russia scored the primary victory within the area race with the launch of Sputnik I, and the political and scientific