Making Sense of Your EFCUnderstanding how the EFC is determined and what happens after might lead to greater transparency into the process, helping you and your family to think more realistically about financial aid and the true cost you will be paying.
How is EFC Calculated?Your EFC “is a measure of your family’s financial strength and is calculated according to a formula established by law,” according to fafsa.ed.gov. This formula configures the following: • Taxed and untaxed income
• Benefits, like unemployment and Social Security
• Family size
• Number of family members enrolled in college