www.finaid.org

www.fafsa4caster.ed.gov

There are several financial aid needs analysis calculators available for students and families to use as a planning tool.  These calculators typically use the needs analysis formula called Federal Methodology or FM.  FM is the formula approved by the U.S. Department of Education each year to determine eligibility for Federal student aid programs.  Links to two calculator options are at the top of this page.

The FM formula will result in your estimated Expected Family Contribution (EFC).  This EFC result is what schools will use to determine what types and amounts of Federal student aid resources and in some cases, institutional resources for which you may be eligible. 

For example, if you use one of these calculators to determine that your estimated EFC is $8,500, then at a school whose cost is $45,000, your demonstrated financial need would $36,500 (cost minus EFC).  The school’s financial aid office staff will try to find you $36,500 of various financial aid resources to meet that need.  It is important to note that at St. Lawrence we try very hard to meet 100% of need for all students, but due to the number of students in need of assistance, we do not reach that goal all of the time.