Expected Family Contribution (EFC)
The information you submit on your FAFSA is analyzed according to a formula that has been developed by Congress to determine your EFC. The EFC is a number which is a measure of your financial strength and used to determine your federal student aid eligibility. Colleges use this number to determine the amount and kind of financial package they will offer you.
The formula calculates the EFC by taking into account:
- Your total family income and benefits
- Tax-filing status
- The number of people in your family
- The number of family members in college
- Some of your family's assets
- The formula recognizes that only a portion of your and your family's income and assets may be considered available for educationally related expenses
One factor used in calculating an appropriate EFC is your dependency status. Certain questions on your financial aid application(s) will help determine whether you are a dependent student and must report your parents' income and resources along with your own, or an independent student who reports only your own (and your spouse's) income and resources.
Sample Expected Family Contribution (EFC) for College Costs
Based on 2008-2009 federal methodology, parent age 45, two parents working
This chart is only an approximation based on general factors to provide an estimate. You should calculate your own EFC based on your and your family's situation.
|
Net Worth |
$43,900 |
$60,000 |
||
|
Family size |
4 |
5 |
4 |
5 |
|
Number in college |
1 |
1 |
1 |
1 |
|
Total income before taxes |
|
|
|
|
|
$0- $25,000 |
$ 0 |
$ 0 |
$ 0 |
$ 0 |
|
30,000 |
0 |
0 |
0 |
0 |
|
40,000 |
1,409 |
550 |
1,409 |
550 |
|
50,000 |
3,001 |
2,178 |
3,329 |
2,468 |
|
60,000 |
4,955 |
3,873 |
5,403 |
4,249 |
|
70,000 |
7,665 |
6,147 |
8,286 |
6,675 |
|
80,000 |
11,066 |
9,308 |
11,686 |
9,928 |
|
90,000 |
14,372 |
12,708 |
14,992 |
13,329 |
|
100,000 |
17,375 |
15,777 |
17,996 |
16,398 |
|
110,000 |
20,597 |
18,999 |
21,218 |
19,620 |
|
120,000 |
23,819 |
22,221 |
24,439 |
22,841 |
Frequently Asked Questions
How much aid can I get?
Aid from most programs is awarded based on financial need (except for unsubsidized and PLUS loans). An Expected Family Contribution (EFC) number is used to determine need. The EFC is a measure of your family's financial strength and is calculated from the information you report on the FAFSA. To be eligible for a Federal Pell Grant, your EFC must be below a certain number, which can vary from year to year. For the 2009-2010 award year, eligibility for a Pell Grant required an EFC on under $4,618. The EFC (expected family contribution) formula must be applied to each family's financial information, so we can't tell you here whether you'll be eligible for federal student aid or estimate how much aid you might get although Pell Grant amounts for the 2009-2010 award year will range from $976-$5,350. You will need to apply to find out exactly how much you will be eligible for. If you want to see exactly how the EFC formula works, you can get detailed worksheets from the Web site www.studentaid.ed.gov/pubs. Click on the year under ‘The EFC formula."
