How to figure efc for financial aid


how to figure efc for financial aid

The information you report on your FAFSA is used to calculate your EFC. The EFC is calculated according to a formula established by law. Your family's taxed and. Your Expected Family Contribution (EFC) is one component used to determine your need for student aid. Use the EFC Calculator on the College Board website. This federal EFC is calculated based on the information reported on the Free Application for Federal Student Aid (FAFSA). Most colleges use the federal EFC.

: How to figure efc for financial aid

How to figure efc for financial aid
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How to figure efc for financial aid
How to figure efc for financial aid
How to figure efc for financial aid
how to figure efc for financial aid
how to figure efc for financial aid

How to figure efc for financial aid -

The EFC formula takes into account federal, state, and social security taxes, employment expenses, and basic living expenses. Your family size and demographics, including who will be listed as dependents and who will be attending a university or college in the next year. If you are twenty-six years of age or older as of December 31 of the current year, an asset-protection allowance is subtracted before the contribution is determined. The federal government offers unsubsidized Stafford Loans , which are available to any family regardless of need, as a source of funds to cover the unmet need. FAFSA aid is not for everyone, and those individuals who are not able to express a financial need for this aid will not be able to receive it.

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