the efc
Your Expected Family Contribution (EFC) is a calculation of how much your family will be expected to contribute towards your child’s education. While the federal government and institutions themselves each use a different formula to calculate this magic number, the main factors include income, assets, number of children in the family and how many of them are in college. Tuition, room and board, student fees, books and cost of living expenses will all be taken into account when determining your EFC. Because different schools are faced with different application pools, this number may change from institution to institution. It comes down to need and availability. If your EFC ends up being more than you can afford, you have several options available to you to help make up for the costs.
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