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The EFC is calculated according to a formula specified in the law. In this chapter, we describe the EFC formula in detail. General Information A Basic EFC formulas Every year the Department publishes updated tables used in the EFC calculation. The 2007 08 updates are in the May 31, 2006, Federal Register, which was posted on July 17. Also available at www.ifap.ed.gov is the EFC Formula Guide. Special calculations The law provides three different formulas to calculate the EFC: one for d.

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Expected Family Contribution (EFC) Your EFC (2023–24 FAFSA form) is an index number that college financial aid staff use to determine how much financial aid you would receive if you were to attend their school. The information you report on your FAFSA form is used to calculate your EFC.

The EFC for a dependent student is calculated using the FAFSA data for the student and his parents. The CPS calculates the parents' contribution (which includes their assets), the student's contribution from income, and the student's contribution from assets; the EFC is the sum of these three.

Use of the expected family contribution Generally speaking, the lower the EFC, the higher the financial aid award will be. Zero is the lowest EFC number (indicating that the family cannot afford to pay anything) and 999,999 is the highest.

Expected Family Contribution (EFC) Your EFC (2023–24 FAFSA form) is an index number that college financial aid staff use to determine how much financial aid you would receive if you were to attend their school. The information you report on your FAFSA form is used to calculate your EFC.

How does EFC affect my financial aid? For example, if your college's total COA is $30,000 and your EFC is $12,000, you could expect to receive up to $18,000 in need-based aid, such as Pell Grants, subsidized loans and work-study programs.

The Expected Family Contribution (EFC) is a measure of your family's financial strength. The U.S. Department of Education calculates your EFC ing to a formula established by law. The formula considers your family's taxed and untaxed income, assets, and benefits (such as, unemployment or Social Security).

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232