Get Expected Family Contribution (efc) Chapter 3 The Efc Is A Measure Of How Much The Student And His

Filling out the Expected Family Contribution (EFC) form is a crucial step in determining how much financial aid a student can receive for their education. This chapter provides clear instructions on understanding and completing the EFC, ensuring that users are well-prepared to submit their information online.

Follow the steps to accurately complete your EFC form.

1. Press the 'Get Form' button to obtain the EFC form and open it in the document editor of your choice.
2. Begin filling out the form by entering the basic information requested, such as the student's name and social security number.
3. Input the parents' adjusted gross income, which can be found on their tax returns. Make sure this value is accurate, as it significantly impacts the calculation of the EFC.
4. Continue by recording any untaxed income and benefits. Be diligent to include all applicable sources of income, as this will inform the total resources available for education costs.
5. Move on to listing the parents' assets. This includes cash, savings, investments, and the net worth of businesses or farms, ensuring no figures are left blank.
6. Calculate the allowances against income by using the provided tables and entering these values where indicated on the form.
7. After completing the income and asset sections, calculate the parents' contribution based on the available income and assets, referring to the relevant tables for assistance.
8. Complete the student's section similarly, including their income and assets as well as any necessary allowances.
9. Review all entered information for accuracy and completeness, ensuring that no fields are overlooked.
10. Once you have verified all information, you can save changes, download a copy, print, or share the form as required.

Start filling out your EFC form online today to secure the financial assistance you deserve.