Many people find this confusing because they expect EFC to decrease based on multiple children. That’s when you need to remember that EFC is Expected Family Contribution, not Expected Student Contribution. The EFC is the amount the family should expect to be paying out of pocket each year.

Is your EFC the same for every college?

For the most part, your federal EFC should be pretty similar at each school. If you haven’t yet completed the FAFSA, and want to get an estimate of your EFC, you can use our Expected Family Contribution (EFC) Calculator here.

Does your EFC change from college to college?

Changes to Family Finances The EFC can change drastically from year to year. For example, if your family experiences financial hardship, such as a job loss, or if a sibling enters college while you’re in school, your EFC may go down. If your family’s financial situation improves, your EFC may go up, too.

Does EFC include siblings?

The Expected Family Contribution (EFC) can change year to year based on how many siblings are in college simultaneously. Both siblings will have approximately the same EFC since they both use the same parents’ tax information, while their individual incomes and savings create slight variations.

How is the EFC calculated for a student?

Colleges use a student’s EFC to determine a family’s financial need. That need is calculated by subtracting the EFC from an institution’s cost of attendance for one year, which includes the college’s tuition.

What should a family do with a high EFC?

If a family has a high EFC, advisers might recommend that the student focus their college search on schools that offer merit scholarships and where the student is academically competitive and might be eligible to receive one. But if the EFC is low, families may want to focus on schools that offer significant need-based aid, she says.

Is there a maximum EFC for financial aid?

There is no maximum EFC, so it can range from zero to any number. As college costs typically increase each year, the financial aid formula that calculates EFC is adjusted for inflation each year,…

Where do I get my EFC After completing the FAFSA?

The vast majority of private and public colleges and universities only use the FAFSA while roughly 200 private, selective schools also use the Profile. After completing the FAFSA, a student will receive his/her official federal EFC via an electronic document called the Student Aid Report.