The Answer - The EFC

What Is It?

The EFC (Estimated Family Contribution) = How much you are expected to pay out of pocket to attend the school of your choice.

Financial Aid Offices calculate the EFC based on a number of factors, including student and family income, savings, and other assets. Parents should house educational savings in their accounts starting no later than a student's sophomore year of high school. Students should start saving for college early, but keep in mind that a student's contributions are weighed more heavily in the EFC calculation, which means a higher percentage of the student's total savings will be expected to be put toward paying college expenses.