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May 8, 2020 · For example, if you fill out the FAFSA and your EFC is 5225, that means you’ll be expected to pay $5,225 of your tuition out of pocket. The FAFSA will look at your school’s cost of attendance to then determine your financial aid eligibility. If your school costs $60,000 a semester, they’ll subtract your EFC from the COA to determine how ...
Nov 13, 2022 · EFC is based on the parents’ and student’s income and assets. A high EFC is likely the result of high income or a high value of assets as reported on the FAFSA. Assets considered include bank ...
- A good EFC for each family will depend on their individual circumstances. In most cases, the lower the EFC, the better, since that typically corres...
- Look at the assets that EFC takes into account in order to consider how to lower yours. For example, since bank account balances are factored in, p...
Sep 29, 2022 · Understanding the Expected Family Contribution (EFC) The Expected Family Contribution Can Determine Financial Aid Eligibility. Jodi Okun is an expert on college financial aid and student loans—a subject she mastered over the course of 10 years as a financial aid consultant at Occidental College and Pitzer College, as well as other institutions.
- Jodi Okun
Sep 10, 2024 · The Bottom Line. The Student Aid Index (SAI) is essentially a new name for the Expected Family Contribution (EFC). It is used along with the Cost of Attendance (COA) and Other Financial Assistance ...
Sep 16, 2024 · What you’re left with is your “net available income.”. Multiply it by 0.47 to get the amount you’re probably going to be expected to spend on college next year. If that’s, say, $40,000, then the aid formulas will anticipate that you can spend $18,800. Second, the formula will look at your parents’ assets.
Jun 14, 2021 · Federal Work-Study. The federal work-study program is a need-based program that only accepts students with a low EFC. Work-study is given on a first-come, first-serve basis. Even if the federal government says you qualify for work-study, the college is tasked with assigning you a job. If all the jobs have been doled out, then you’re out of luck.
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Apr 27, 2023 · The Expected Family Contribution (EFC) is found on your Student Aid Report after you submit the FAFSA and helps determine how much financial aid you qualify for. In the 2024-25 school year it will ...
