The Expected Family Contribution or EFC is used to calculate a student's eligibility for need-based financial aid. The EFC is subtracted from the cost of attendance (tuition, room and board, books, transportation, etc.) to determine the amount of aid you are eligible to receive.
IMPORTANT NOTE: In February 2004 this calculator was updated with 2004 methodology. If you had previously filled out the calculator, your information was cleared. This is to ensure that you run the calculations based on the updated questions for the new aid year.
If you already understand what the EFC is, get started now.
The formulas used to calculate the EFC are rather complicated. Rather than making certain assumptions about your situation -- which can impact your EFC by several thousands of dollars -- we feel that users of such a tool deserve the most accurate EFC calculation possible. In order to minimize the number of questions you will need to answer regarding income, expenses, assets, and debts, you will first need to answer some questions that will determine what financial information will need to be provided. You will then be asked to confirm your preliminary responses before you proceed. Since skipping questions will result in your then having to unnecessarily answer more questions about your situation, you should be sure to carefully review each question as well as the summary page. However if you need to stop for any reason, you'll be able to save your work at any time and return to it.
As you use this tool, keep in mind that while it will give you a very good estimate of your EFC, it is not used to actually apply for aid. To receive any financial aid, the student needs to complete the FAFSA and/or the CSS PROFILE and any other required forms designated by the school to which the student is applying for assistance.
Helpful documents to have on hand while working on your EFC.
