Fiction: The government decides who receives financial aid.
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Fact: Once the student has completed the Free Application for Federal Student Aid (FAFSA), he or she submits it to a federal processor for review. A federally established formula is used to determine the expected family contribution (EFC). Then, using the information on the FAFSA and the EFC, the college itself determines the student's award based on its resources and the student's financial need.
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