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The Expected Family Contribution (EFC) is a measure of how much the student and his or her family can be expected to contribute to the cost of the student's education for the year. The EFC is calculated according to a formula specified in the federal law. Using the information provided on the Free Application for Federal Student Aid (FAFSA), the federal government will calculate the family's EFC, or the amount of money expected to be able to contribute toward the student's college expenses.
The EFC is determined by the family's income, assets and size, and takes into consideration the family's living expenses and the number of family members enrolled in college. The EFC is not a lump sum amount due at the beginning of a school year but, rather, a measure of the family's ability over time to absorb some of the educational costs.
The EFC is deducted from the cost of attendance (COA) in order to determine the student's financial need. The college/university determines the COA, which is an estimate of what expenses are usually incurred by students attending that school. Typically, a COA will include tuition, fees, living expense (room and board), book and supplies, and transportation. Each school has a different COA.
For more detailed information on the EFC, refer to the Application and Verification Guide, Chapter 3 of the Federal Student Aid Handbook or the EFC Formula Information section of IFAP's web site.
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