-- Posted by newman at 9:08 pm on Aug. 22, 2008 How do they know if you actually "need" the need based financial aid for college?  I can't afford just anything, but I'm sure other people need more money then I do, so how does it all work? -- Posted by jami x3 at 9:11 pm on Aug. 22, 2008 Fill out the fafsa & you need to have all kinds of income tax & earning info for them to figure out your efc. Estimated family contribution. The less savings & income that you or your parents have, the better for you. I get maximum pell grant & tap grant (from new york state) cause I am legally declared independent from my parents and I make next to nothing, with no savings. Go me! You can msg me if you have more ?s