Get How To Calculate Your 2015-2016 Efc - Website

This guide is designed to support users in accurately completing the How To Calculate Your 2015-2016 Expected Family Contribution (EFC) form online. By following these structured steps, you'll be well on your way to effectively assessing your family's financial contribution to education.

Follow the steps to successfully complete your EFC calculation online.

1. Click ‘Get Form’ button to obtain the form and open it for editing.
2. Begin by entering your family's adjusted gross income in the appropriate section. This includes both the student's and the parents' adjusted gross income as reported on IRS Form 1040.
3. Next, input the total amount of taxes paid, ensuring to include only federal income taxes for the year specified. Use IRS documentation to ensure accuracy.
4. Determine your family size and include this information as it affects your income protection allowance. Input the number of members living in your household.
5. If applicable, calculate and enter any employment expense allowances based on whether one or both parents are employed, using the income from the least earning parent.
6. Assess your family's assets and enter the values for cash, savings, and investments. Remember to apply the asset protection allowance based on the oldest parent's age.
7. After completing all required sections, review your entries for accuracy. Ensure all financial details are verified for precision.
8. Save your changes. You may choose to download, print, or share the completed form as needed for your records.

Start filling out your documents online today for a clearer understanding of your financial aid eligibility.