Your financial aid eligibility equals the cost to attend college minus your expected family contribution (EFC). Your EFC is calculated after you fill out the Free Application for Federal Student Aid (FAFSA). This form will ask questions about your family's finances in order to determine your need for money. If your EFC is less then the cost of the college then you may be eligible for need-based aid. Whether you are applying to a public or a private university, the same EFC is used by all schools to determine your eligibility for funds.
For example, if it is determined that you can pay $2,000 a year for college and the college you want to go to cost $10,000 a year, you may be eligible for $8,000 in aid. If your second choice college cost $14,000 a year, it is possible you would be eligible for $12,000 in aid at that college.
Where scholarships are concerned, there is really no limit to the number you can win, so apply to as many as you want. It is possible you could have all your tuition paid for and still have money left over to pay for books and supplies.
