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It's a great question, and we've included a detailed response below. The short answer is that, in most cases, a scholarship won't affect the financial aid offered by a college. Instead, it will help to cover costs not already paid for by financial aid, and is therefore of great benefit to the student.
Your Expected Family Contribution (EFC) is an index number used to determine your eligibility for federal student financial aid. This number results from the financial information you provide in your Free Application for Federal Student Aid (FAFSA®) form. It's reported to you on your Student Aid Report (SAR).
The WASFA can also be used in limited circumstances by other select applicants who cannot or choose not to file a FAFSA. People who complete a WASFA are applying only for state aid. If you are eligible for federal aid, you should complete the FAFSA in order to maximize financial aid awards.
Financial aid is awarded on a first come, first serve basis until it runs out for the year. Even if you miss a college's priority deadline, apply.
How to Fill out WASFA: Step by Step GuideStep 1: Answer the Eligibility Questions.Step 2: Create your Account.Step 3: Select the Correct Year.Step 4: Provide Student Information.Step 5: Answer Washington Residency Questions.Step 6: Answer Questions About your College Plans.More items...
If you complete the FAFSA earlier in the year, colleges will be able to use that information to come up with your financial aid award letter. That will make comparing colleges much easier, as you can quickly compare what each school's cost will be after applying grants and scholarship awards.
But which one should you fill out? Fill out the FAFSA to see what financial awards, grants, and loans you can receive from the federal government. If you are not eligible for federal awards, sometimes because of immigration status, complete the WASFA to see if you can get financial aid from Washington State.
The Washington Application for State Financial Aid (WASFA) is for people who don't file a federal FAFSA application. People who complete a WASFA are applying for state aid.
The WASFA is for students who don't have access to federal funding because of their immigration status (includes undocumented students). All other current and prospective students should fill out the FAFSA.
To complete the Free Application for Federal Student Aid (FAFSA®), you will need:Your Social Security Number.Your Alien Registration Number (if you are not a U.S. citizen)Your federal income tax returns, W-2s, and other records of money earned.Bank statements and records of investments (if applicable)More items...