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Depending on the rules and regulations of the lending institution you visit, you may need to provide information such as your name, phone number, bank account number, social security number, and proof of income. Take Control of Your Finances The standardized application for financial aid determines your need for financial assistance during college.ĐÂ Student income, parental income and assets, and family size are used to calculate your Expected Family Contribution (EFC). Your EFC is then used to create an individual Student Aid Report (SAR) that spells out your college financial aid needs.
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