What is EFC?
Expected Family Contribution (EFC) is the amount students and their families are reasonably expected to contribute toward the year’s educational costs. The information students report on the FAFSA is used to calculate the EFC using a standard federal formula. A student’s EFC may or may not be what is actually paid.
EFC stands for Expected Family Contribution and is a measure of your family’s financial strength. It is determined through a calculation called Federal Methodology taking into account income, asset and other household information provided on the FAFSA. The EFC is used to determine your eligibility for need-based financial aid (Subsidized Stafford).
Expected Family Contribution (EFC) is the estimate of the parents’ and/or student’s ability to contribute to college expenses. Eligibility for a number of federal, state, local, and institutional aid programs is based on a student’s EFC. EFC is calculated based on a student’s FAFSA application.The lower the EFC, the less money a family has to contribute to a child’s education.The EFC is usually subtracted from the Cost of Attendance (COA) to determine a student’s financial need. If COA – EFC > 0, then a student has financial need.
