Family Contribution

Family Contribution

The amount a student and his/her family pay for an academic year at a post-secondary educational institution. The amount by which the cost of education exceeds the family contribution must be borrowed or awarded in some other form of financial aid.
References in periodicals archive ?
Making mistakes can drive up your Expected Family Contribution causing some families to pay thousands more for college than necessary.
FAFSA has calculated the family contribution at $9,000, while Profile has calculated it at $45,000.
From February 15 to 28, the Permanent Family Contribution, ex Bono Marzo, will begin to be delivered to a first group of more than 411 thousand people, who will receive this state aid on the same date and place of payment where they usually receive their benefits from the Institute.
Students are responsible for the expected family contribution (EFC) based on income, and the colleges then make up the difference with grants, scholarships, and financial aid.
During that period, "the expected family contribution" skyrocketed, leaving both students and parents to take out loans after savings and earnings were exhausted.
Early this year, however, that pattern was interrupted when the IRS announced that it had reduced the 2018 maximum family contribution limit to an HSA from $6,900 to $6,850.
Be specific about what you are requesting, and be sure to explain if you have specific circumstances such as medical costs or a job loss that may have affected your ability to meet the expected family contribution. Brandpoint THE LIST According to MentalFloss.com, the top highest-grossing movie franchises are: 1.
After a review of the necessary financial documentation, Georgetown will determine the family contribution amount and provide a scholarship to cover the remaining costs.
Assets held in a 529 plan owned by a dependent student or his or her parents, for example, have a weighting of just 5.64% in the Expected Family Contribution calculation used in the Free Application for Federal Student Aid (FAFSA).
The section on federal financial aid insider tips on applying and explains elements such as expected family contribution and different types of grants and loans.
It addresses types and sources of financial aid, how to get need-based and merit-based aid, how to estimate your Expected Family Contribution, how the Net Price Calculator can help you, and college cost considerations.
The FAFSA is used to determine the expected family contribution, or EFC, to college expenses based on a family's financial situation.