Expected Family Contribution


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Expected Family Contribution

The amount that a student and his/her family are calculated to be able to pay for an academic year at a post-secondary educational institution. The expected family contribution is used in the FAFSA system. It is calculated by taking the tuition and subtracting the federal financial aid for which the student is eligible.
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Four financial factors influence the expected family contribution for a dependent student: (1) the parent's income; (2) the parent's assets; (3) the child's income; and (4) the child's assets.
COA, less the expected family contribution, equals financial need.
The formula used to determine financial need is: financial need = cost of attendance (COA) - expected family contribution (EFC).
The amount of the Federal Pell Grant for a student eligible under this part shall be $6,000 for academic years 2005-2006 through 2010-2011, less an amount equal to the amount determined to be the expected family contribution with respect to that student for that year.
Need is defined as the total cost of schooling minus the Expected Family Contribution (EFC) where the EFC = EPC + Expected Student Contribution (ESC).
The schools will also share with you what your expected family contribution will be for the school year -- this is the amount that you will be expected to pay after aid is given.
The Department of Education classifies students on the basis of their being dependent or independent, because this classification determines whether parents' or student's income and net worth are the primary considerations in calculating the expected family contribution to the student's education costs should the student apply for financial aid.
If parents have tapped into retirement funds, it should be added to either untaxed income or adjusted gross income, not both, or the Expected Family Contribution (EFC) will increase, and aid eligibility will decrease.
After filing the FAFSA, they will learn the expected family contribution to pay for a particular school.
The Student Access Loan (Sal) Is A loan Of Last Resort , Designed To Fill The Gap Between Financial Aid Available To The Student, The Expected Family Contribution, And The Total Cost Of Attendance.
According to the bill's fiscal report, grants and loans for unauthorized immigrants "may be skewed towards an expected family contribution rate of zero or close to zero, which would give this population a higher priority for grant awards.

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