EFC stands for Expected Family Contribution. That amount is determined by the agency or institution awarding the need-based financial aid—usually the government or individual colleges and universities based on formulas. Your family’s financial resources, income and particular situation are used as inputs for the analysis and calculation.
The Expected Family Contribution (EFC) Calculator can help you gain insight into your eligibility for financial aid. The College Board provides an EFC Estimator on its web site: College Board EFC Estimator
Federal Student Aid, an office of the U.S. Department of Education, provides The Federal Student Aid Tool. on its web site. What is EFC and How to Estimate it will provide an early estimate of eligibility for federal student aid. The web site also provides information about the financial aid process and types of available aid.
Lynn Radlauer Lubell, Publisher of InLikeMe.com and Founder of Admission By Design, an Educational Consultancy based in Boca Raton, Florida.