Expected Family Contribution

   EXPECTED FAMILY CONTRIBUTION

Expected Family Contribution EFC

Expected Family Contribution is the information about the amount of money that the student and the family are expected to contribute to the student’s education cost, including living expenses, for one year. This calculation is based on the family’s size, income, expenses, assets and the student dependence of the family, and also if others members of the family are studying in a college.

Formula for calculating EFC?

The EFC formula is standard for all colleges you will apply for aid, no matter the cost to attend the college, and it’s based on the student dependence or independence, and the marital status and children.

The Cost of Attendance is an estimate of all the expenses that the student will pay during the academic year in the college or college the student is going to study.

The Cost of Attendance includes:

- Tuitions and Fees

- Books

- Housing

- Food and Transport

- Personal expenses

The difference between Cost of Attendance and the Expected Family Contribution is the Financial Aid the student and the family need for paying the education.

   Cost of Attendance - Expected Family Contribution = Financial Need

The Financial Aid Office Administrator in the colleges you have listed on your application will check your SAR to see if you are eligible for financial aid. The EFC Amount and Cost of Attendance will be used to calculate the Financial NEED and prepare a financial aid package (student loans, grants, scholarships, work-study programs)

You can accept the economic aid offered by your university in part or in total. Once you have made up your mind and accepted the economic aid to the extent chosen, you must sign the letter and send it back to the university. If you’ve been admitted to several universities, wait until you have received all economic aid letters before you take a final decision. This will allow you to evaluate each institution’s advantages and disadvantages.