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How is the EFC calculated?

April 26, 2017calculated EFC

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How is the EFC calculated?

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When you submit the FAFSA application, the federal processing center will enter your information into a calculation and the result is your EFC. The EFC will help the Financial Aid Office determine your eligibility for federal, state, and institutional funding.

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The EFC is calculated by considering the family’s financial strength—their income and assets. Other factors that are considered include the number of family members and the number of family members in college.

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The federal government prescribes an official federal EFC calculation. This calculation determines family resources available from a family’s income and assets. A portion of these available amounts are considered as EFC.