Your (School Funding) Questions: Answered!

It’s been great to hear from therefore many excited admitted students, but we know that lots of families still have lingering financial aid questions. We thought it might be beneficial to compile a list of the questions that are common have received and have the workplace of school funding respond. Please see the post below for responses to questions that are common may have about financial aid at USC:
Why is the EFC based on USC various than the EFC reported on FAFSA?
The information you provided on the FAFSA is used to calculate eligibility for federal pupil aid (including Pell Grant, Stafford Direct and Perkins Loans, and Federal Work-Study), using a formula called Federal Methodology (FM). FM takes into consideration:
• Total income (taxable and nontaxable).
• Asset equity (not like the family members’s house and/or business or farm, if the household is really a bulk owner with lower than 100 employees).
• Allowances for basic bills and retirement.
• Family size and quantity of children in college.
Eligibility for university grant funding and other college aid that is need-based determined by taking into account the excess data provided on your CSS PROFILE, federal income tax information and other supporting papers, using a formula referred to as Institutional Methodology (IM). This formula may include some sources of untaxed income along with business and home or farm equity. In addition, certain othe