What is the Expected Family Contribution (EFC)?
The Expected Family Contribution (EFC) is a critical factor in determining a student's eligibility for financial aid. It is a measure
The calculation is done using a standardized formula known as the federal methodology. It considers both parental and student income and assets to derive a number that represents the family's ability to pay for college. This figure is then used to determine the student's eligibility for need-based financial aid programs including grants, scholarships, work-study, and low-interest loans.
Ultimately, the EFC helps colleges and universities determine the amount of financial aid a student requires to afford their education and create a fair and balanced distribution of funds....