develop a savings plan
determining your family's share of colleges costs
Use these charts for a rough estimate of your family's share of your child's college expenses (an estimate often called "estimated family contribution" or "EFC").
You will need to choose specific figures within three categories: net assets (the equity in your house, savings, or other investments), family size (parents plus children), and income (before taxes).
These charts provide only rough estimates of EFC. For a more precise calculation, or if any of the choices in the categories are not appropriate to your circumstances, use VSAC's EFC Calculator online.
| Net Assets | $100,000 | |||
| Family Size | 3 | 4 | 5 | 6 |
| Income Before Taxes $20,000 |
$1,000 | $130 | $0 | $0 |
| $30,000 | $2,700 | $1,880 | $1,100 | $230 |
| $40,000 | $4,760 | $3,670 | $2,810 | $1,930 |
| $50,000 | $7,660 | $6,090 | $4,860 | $3,690 |
| $60,000 | $11,060 | $9,370 | $7,790 | $6,120 |
| $70,000 | $14,460 | $12,770 | $11,190 | $9,400 |
| $80,000 | $16,560 | $16,170 | $14,590 | $12,810 |
| Net Assets | $50,000 | |||
| Family Size | 3 | 4 | 5 | 6 |
| Income Before Taxes $20,000 |
$0 | $0 | $0 | $0 |
| $30,000 | $1,380 | $560 | $0 | $0 |
| $40,000 | $3,050 | $2,220 | $1,480 | $610 |
| $50,000 | $5,180 | $4,030 | $3,120 | $2,230 |
| $60,000 | $8,240 | $6,580 | $5,280 | $4,050 |
| $70,000 | $11,640 | $9,950 | $8,370 | $6,610 |
| $80,000 | $14,910 | $13,350 | $11,770 | $9,990 |
| Net Assets | $25,000 | |||
| Family Size | 3 | 4 | 5 | 6 |
| Income Before Taxes $20,000 |
$0 | $0 | $0 | $0 |
| $30,000 | $1,060 | $230 | $0 | $0 |
| $40,000 | $2,690 | $1,900 | $1,160 | $290 |
| $50,000 | $4,680 | $3,600 | $2,750 | $1,910 |
| $60,000 | $7,550 | $5,990 | $4,780 | $3,620 |
| $70,000 | $10,950 | $9,260 | $7,680 | $6,020 |
| $80,000 | $14,210 | $12,660 | $11,080 | $9,290 |
Please note that the charts assume the following:
- two parents in the family, both employed and earning equal wages
- income only from employment
- the family has no unusual financial circumstances, such as high medical expenses
- the standard deduction is used when calculating taxes on the 1040 form
- one child is enrolled in college when college expenses must be paid
- calculations are according to the "federal methodology," which is used to determine federal aid, and which some schools follow (VSAC uses a slightly different methodology for determining Vermont grants); the federal methodology excludes the value of a family's home or farm.
- calculations are based on 2004 income and apply to the 2005-2006 academic year
