The colleges or career schools you list on your Free Application for Federal Student Aid form will use several pieces of information to calculate your aid
like what is a simple way you could explain it to me?
Need-based aid is calculated by taking the Cost of Attendance COA  and the Expected Family Contribution EFC and finding your Financial Need
and what can you tell me about non-need based aid?
Your school will determine that by using another formula.
Would you like an example?
no, I want to ask something else
Unfortunately, no relevant information is found.
do they use something else besides the formulas to see if I need aid?
Your college or career school first determines whether you have financial need by using that simple formula
In addition, I need to learn more about Choosing Which Student Loans to Accept. What if I don't approve the whole loan sum that I'm qualifying for?