What is an EFC and how is it calculated?
The EFC stands for “Estimated Family Contribution”. It is calculated by the Federal Government when you file the Free Application for Federal Student Aid. It takes into account such items as your tax information, your spouse’s or parents’ tax information (if applicable), your (and your family’s) assets, the number of people in your household, and the number of family members in college.
A. The EFC stands for “Estimated Family Contribution”. It is calculated by the Federal Government when you file the Free Application for Federal Student Aid. It takes into account such items as your tax information, your spouse’s or parents’ tax information (if applicable), your (and your family’s) assets, the number of people in your household, and the number of family members in college.
