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What is considered in calculating my Estimated Family Contribution (EFC)?

April 26, 2017calculating contribution EFC estimated family

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What is considered in calculating my Estimated Family Contribution (EFC)?

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The federal government has created a formula that takes a number of factors into consideration. Among them are a family’s total taxable and nontaxable incomes- including the student’s income, family and student assets, the number of persons supported by the family income, the number of dependents in college, and the age and marital status of the parents.