|
What is the expected family contribution (EFC)?
The expected family contribution (EFC) is a key factor that determines whether your teenager can receive college financial aid. Your EFC takes into account your family income, savings and other factors. As a general rule, you as parents are expected to contribute about 6% of your savings toward your child’s education, and your child is expected to use about 35% of his or her savings for college. Your EFC is compared to the cost of attending the college your child has selected to determine financial aid eligibility.For more information, check this Department of Education page or the department’s Student Guide Web site.Return to Questions
|
