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College and University Discussion
Reply to "Our EFC is 500,000???? "
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[quote=Anonymous][quote=Anonymous]What is EFC?[/quote] Expected Family Contribution. When you submit the FAFSA, it does exactly one thing. It takes the financial information, and performs a calculation of how much the family can afford, the EFC. This is included in the report, which takes a couple days to come back (or you could calculate by hand with the worksheets). The EFC is an upper bound, and can easily be higher than the cost of any college or even total of schools if multiple siblings are attending at once. Then there's also no promise that a given school won't cost more than the EFC. It's just a formula that compares families.[/quote]
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