what is efc fafsa

The Expected Family Contribution (EFC) is a figure used to determine your eligibility for federal student financial aid. It is an index number that college financial aid staff use to determine how much financial aid you would receive if you were to attend their school. The EFC is calculated according to a formula established by law. It is an estimate of how much your family can contribute to your college education based on the financial details you disclose in your FAFSA application. The EFC is the amount you are expected to pay to cover your college costs, including tuition, books, supplies, accommodation, transport, and other study expenses. Colleges use your EFC to determine financial aid and award packages, and your financial need will be calculated using the cost of attendance (COA) of that particular college less your EFC. The difference between the two represents your financial need, and therefore your eligibility for financial aid.