The key to understanding need-based financial aid is simple: the difference between your EFC and the total Cost of Attendance associated with your … The EFC is a mysterious six-digit number, that may include leading zeros. 2: The EFC for the average American household with an AGI of $50,000 will usually range from $3,000 to $4,000. Understanding Expected Family Contribution (EFC): Charts & Meanings ... Disclaimer: The College Finance Company works hard to keep information listed on our site accurate and up to date. When you file your FAFSA your EFC is computed and reported on … Your EFC is a measure of your family’s financial strength. Your Expected Family Contribution (EFC) is an index number that colleges use to determine how much financial aid you’re eligible to receive. An Expected Family Contribution is a dollar figure that represents what financial aid formulas believe a family should be able to pay for one year of a child’s college education. The EFC is just that — the estimated amount that the government calculates you and your parents, in most cases, can afford to put toward the cost of your education. The EFC is not like Costco prices, where some of the digits have special significance. With schools that use the federal methodology, having two children in college at the same time reduces the expected family contribution for each child by 50%. Is the EFC an accurate estimate of how much you pay for college? Your EFC can have a big effect on the amount of financial aid you’re eligible for, so it’s important to enter accurate information on the FAFSA — and update financial aid administrators if … For example, if your EFC with one student is $20,000, then it would drop to $10,000/student if you have two in school at the same time. ... EFC stands for "expected family contribution." My own calculation resulted in an EFC of … And as for the original question (even if it was facetious), the EFC Calculator is pretty accurate. Ellington Financial Inc. (NYSE:EFC) has received an average rating of "Buy" from the ten analysts that are presently covering the firm, Marketbeat reports. The Expected Family Contribution (EFC): FAQs Colleges figure out how much financial aid they will offer you, in part, by calculating your expected family contribution (EFC). How the EFC Code Is Created. Your EFC is calculated according to a formula established by law and the information from your Free Application for … (Some do, however, and in such cases the EFC truly is accurate.) For example, if a Costco price ends in 97 cents, it is a discounted price, while a price that ends in 99 cents is … So based off all the information you entered on your FAFSA, it is a number that is supposed to represent what you (and your family, if dependent) are able to contribute towards your education costs each year. It's a number that’s calculated using information you give about your family’s circumstances. I went back and worked through it after we received the initial EFC (automatically calculated) of $62,100 +/-. Select Region United States. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. Your expected family contribution, or EFC, impacts how much. Your Expected Family Contribution is a dollar figure. No. The Expected Family Contribution is computed by submitting your financial data via the FAFSA Form to the need analysis service, the Federal Student Aid Programs, located in Mount Vernon, Illinois. The a