The vast majority of college students rely on need-based aid from their school and the federal government. If you qualify as an independent student, only your financial information is considered. Colleges might have additional forms for students seeking financial assistance. The cost of attending college varies with each institution, but your EFC remains the same. In that case, you would not be eligible to receive need-based aid.
Financial aid is a combination of grants and loans.
Part of your award package might also include federal or state work-study. Each college will offer a different combination of federal, state and institutional aid based on the school's policies and on how badly the admissions office wants you to enroll. Your college selection might hinge on which college's financial aid offer includes the most grants and the fewest loans. Sometimes, a college will not supply the full difference between your EFC and the cost of attending. Repayment of these loans can be deferred, too, but you'll have to pay interest while you're attending college.