How is EFC calculated?
The EFC calculation uses a standard formula based on the information reported on the FAFSA. This calculation considers family size, the number of family members attending college, whether the student is Dependent or Independent, and the family’s income and assets (both student’s and parents’), including cash, checking and savings accounts, real estate other than your family home, and investments. The difference between your EFC and the cost of admission (COA) determines your financial need. Because both the cost of the school and your family finances are considered, your family may qualify for more financial aid than you think.
The EFC calculation uses a standard formula based on the information reported on the FAFSA. This calculation considers family size, the number of family members attending college, whether the student is Dependent or Independent, and the family’s income and assets (both student’s and parents’), including cash, checking and savings accounts, real estate other than your family home, and investments. The difference between your EFC and the cost of admission (COA) determines your financial need.
