Unlocking Financial Aid The Role of Expected Family Contribution

10 EFC Tips · 1: An Expected Family Contribution is a dollar figure that represents what financial aid formulas believe a family should be able to pay for one ... It represents the amount of money a family can reasonably be expected to contribute towards college expenses. After completing the FAFSA, a student will receive ... Any new, entering high-need student whose Expected Family Contribution (as determined by Smith) is less than $7,000 will be eligible. How many students will ... Expected Family Income (EFC) is a term used in the Free Application for Federal Student Aid (FAFSA), and simply is a calculation (based on “taxed and untaxed ... The EFC measures the family's financial strength on the basis of the family's income and assets. The EFC formula also takes into account the family's expenses ... The Expected Family Contribution (EFC) is a number that determines a student's eligibility for federal student aid. The EFC formulas use the financial ... The completed FAFSA furnishes all the information needed to calculate the Estimated Family. Contribution (EFC) for dependent and independent students. Expected Family Contribution (EFC) is an index number used to determine your eligibility for federal student financial aid. Based on the newly signed law – the Consolidated Appropriations Act of 2021 – the EFC will be replaced with a “student aid index” or SAI. In ... Financial aid for college is calculated using your Student Aid Index, year in school, enrollment status, and cost of attendance at the school.