Unlocking College Dreams The Ultimate Guide to Estimated Family Contribution

EFC Parent Contribution · Start with your taxable income · Add non-taxable income (such as received child support and 401(k) contributions) ... EFC = Expected Family Contribution. It's a number colleges use to figure out your #FinancialAid AND it's good to know when comparing your ... The Expected Family Contribution (EFC) is a measure to determine a student's eligibility for institutional aid. There are two types of calculations that ... This calculator uses the EFC formula for the 2023-24 academic year. Expected Family Contribution · This calculation provides an amount the government has determined that your family can afford to pay toward your college expenses ... The SAI is used by the school you attend (or plan to attend) to determine your need. The school will take the total cost of attendance, subtract ... UPDATE: As of the 2024-25 FAFSA, the EFC (Expected Family Contribution) is now the SAI (Student Aid Index). Learn about the SAI here: ... In conclusion, your EFC is an important factor in the financial aid process and can have a significant impact on your ability to afford college. First, you'll need to figure out your expected family contribution (EFC). Your EFC is based on a formula made by the US Department of Education. Federal EFC is calculated using a family's income, assets, and benefits, as well as family size and number of family members in college.