Calculating the Expected Family Contribution

The Expected Family Contribution or also known as EFC is a number that is personalized to your family and used by colleges to see if you and/or your parents are eligible for financial aid.

The EFC is calculated by inputting your family's financial information into a form called the FAFSA (The Free Application for Federal Student Aid). The amount of EFC is determined by each college you apply to and it takes into account parent contribution as well as student contribution before deciding how much financial aid to give to your family towards the cost of college.

The formula used: Cost of College - the EFC = Financial Need

• Cost of college includes tuition, fee, residence hall, food, books and other costs.

• Financial need is the difference between the cost of college and the EFC. Colleges try to meet your financial need through a combination of grants and scholarships, work-study and student loans.