How is the Expected Family Contribution (EFC) calculated?

The Expected Family Contribution (EFC) is determined through a calculation that takes into account various factors. This calculation considers the income and assets of the student and their parents, as well as the size of the family and the number of family members attending college. The Free Application for Federal Student Aid (FAFSA) is used to collect this information. The EFC is calculated using a formula established by the U.S. Department of Education, which takes into account income, taxes paid, assets, benefits received, and other factors. The result of this calculation is a number that represents the amount the family is expected to contribute towards the student's education. This EFC is used by colleges and universities to determine the student's financial need and eligibility for federal and institutional aid programs.