Fafsa efc means FAFSA Expected family contribution.
The Expected Family Contribution (EFC) is a measure of your family’s financial strength and is calculated according to a formula established by law. Your family’s taxed and untaxed income, assets, and benefits (such as unemployment or Social Security) are all considered in the formula. Your family size and the number of family members who will attend college during the year are also considered.
In the post-secondary education system of the United States, an expected family contribution is an estimate of a student’s, and for a dependent student, their parent’ or guardian’, ability to pay the costs of a year of post-secondary education
Your Expected Family Contribution (EFC) is an index number used to determine your eligibility for federal student financial aid. This number results from the financial information you provide in your Free Application for Federal Student Aid (FAFSA®) form. It’s reported to you on your Student Aid Report (SAR).
Your EFC is calculated according to a formula established by law and considers your family’s taxed and untaxed income, assets, and benefits (such as unemployment or Social Security). Schools use the EFC to determine your federal aid eligibility and financial aid award. We understand that there may be gaps in the amount of aid you need. Try talking to your school, applying for more scholarships, or reading our article about other options to consider if you didn’t get enough financial aid.