Financial aid packages constitute of merit scholarship, self help and grants. You as an applicant have the full right to determine which package is most suited to you. Once a student applies for financial aid, lists of offers are being shown to him by those colleges who have accepted their request. The general queries related with your package is that ‘is the best one for which I am eligible’ and some ask for deposit some money usually referred to as ‘matriculation fee’.

EFC is basically the difference between the total college fee and the amount granted as financial aid. The EFC is the building block of financial aid and is associated with the self-help portion of your package.

Merit scholarship is no doubt an important constituent of your package; it is issued on the basis of a student’s academic performance along with his participation and performance in extra activities like athletics, debate, and quiz etc.

Grants are similar to merit scholarship that both of them need not be repaid, and they are issued on the basis of financial conditions prevailing in a family. Since grants are based on need and thus are commonly referred to as need based fund.

Other factors which play an important role in deciding your financial aid package by FAFSA comprises of ethnic issues, geographical location, art and craft talent, alumni association. These factors are given relevance in determining the type of your package.