The Expected Family Contribution (EFC) is the result of the Federal Need Analysis formula that measures family financial strength using information from the Free Application for Federal Student Aid (FAFSA). The lowest number is 0 and the highest number 99999: the closer to zero the higher the need.
When you complete your Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov, your EFC will be calculated as part of the application process. Don’t confuse the Department of Education website with a commercial website that actually charges students large fees to complete their application. The Federal Department of Education’s FAFSA on the Web has a web address that ends in “gov.”
For juniors who want to get an early start on exploring financial aid option, the FAFSA4caster is for you! By using the FAFSA4caster, you and your family will receive an early estimate of eligibility for federal student aid. While the FAFSA4caster is not a substitute for completion of the FAFSA, you will be able to populate much of the FAFSA with information from the FAFSA4caster. Visit the Web site at http://www.fafsa4caster.ed.gov/.
The Fin Aid! Web site has an EFC calculator that you can use without charge at www.finaid.org. This feature of the website should not be confused with completing an actual FAFSA. You’ll note that you don’t enter your name or social security number at the Fin Aid! Web site.
If you really want to try your hand on the EFC formula, you can review the tables and calculations directly from the Department of Education. This is the current EFC information for 2008-09.
