College Finance
Almost all colleges follow Federal guidelines for determining 'need'.  The Department of Education uses a standard formula to calculate how much it thinks the students family can contribute each year.  This figure is called the Effective Family Contribution (EFC for short)  Any cost above this is called 'need'.  Colleges may offer scholarships, grants, loans and other stuff to help make up the 'need'.   It is rare that they offer enough to make up all the need.  There is no requirement that they offer anything.

You can use this calculator to estimate need.  Because the Department of Education form is quite long we have simplified ours.  Still, for most people, you will get a good estimate of your need.  
 
Number of people on Family:
Number in College:
State of Residence:
Age of Older Parent:
Fathers earned income:
Mothers earned Income:
Adjusted Gross Income(This means everything, including earned income minus adjustments:
Contributions to 401k, 403b or SEP Retirement plans:
Federal Tax Paid (do NOT include Social Security or Medicare):
Total value of assets not including home:
Student Savings:
Student Income from employment last year: