How is the Expected Family Contribution or EFC calculated and how does it affect my financial aid?
The Federal Department of Education uses a complex formula to calculate your Expected Family Contribution or EFC, based on the information submitted on your FAFSA. The following are included in your EFC calculation: parent income and assets, age of your older parent for asset protection, social security benefits, number in the family, number in college, student wages (includes Work Study). The Office of Financial Aid uses the EFC to calculate your eligibility for certain types of financial aid funds and amounts. The Office of Financial Aid calculates the total cost of attendance, including tuition and fees, estimated room and board, books and supplies, transportation, loan fees, and other educational expenses, and subtracts the EFC to obtain the estimated financial need for the academic year. Cost of Attendance minus EFC equals Estimated Financial Need. Per fund availability and student eligibility, grants, scholarships, and/or loans are offered to the student in an effort to meet demo
