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EFC means "expected family contribution." Having an estimate of your EFC will help you manage the financial aspect of college; it calculates the ability that you have to pay for your college education. If the total price of tuition is past your EFC, you may be able to get financial aid. Getting a completely accurate EFC estimate is difficult, but you can get a close estimate with the assistance of a calculator provided by the government.
EFC is an acronym that stands for "expected family contribution." It is a term used to describe the capability that a student has of paying for their college tuition. If the cost of tuition exceeds a student's EFC, then the student is eligible for student aid. Calculating EFC involves a complicated formula, however it is possible to quickly obtain a reliable estimate through the use of an online calculator.
An FAFSA is the Free Application for Federal Student Aid, and completing it is the first step to obtaining federal education grants and loans. The amount of aid you are eligible to receive is based on your estimated family contribution, or EFC. This is the amount the federal government believes you can contribute toward the cost of higher education, based on a series of complex calculations. This is not the amount you are actually expected to pay, just the amount that determines how much aid you are eligible for, since most federal aid is need based. For you to receive…
When a child begins college, the family usually fills out a FAFSA (Free Application for Financial Student Aid). This is to determine his needs, and to determine if federal financial aid assistance is available. The family's financial status is looked at to determine how much the family can contribute. This is referred to as an EFC score (expected family contribution).
