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 (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 |
$440 | $0 | $0 | $0 |
| $30,000 | $2,180 | $1,260 | $400 | $0 |
| $40,000 | $4,000 | $2,990 | $2,130 | $1,160 |
| $50,000 | $6,370 | $4,970 | $3,880 | $2,850 |
| $60,000 | $9,860 | $7,740 | $6,210 | $4,780 |
| $70,000 | $13,060 | $11,180 | $9,360 | $7,450 |
| $80,000 | $16,510 | $14,630 | $12,810 | $10,890 |
| Net Assets | $50,000 | |||
| Family Size | 3 | 4 | 5 | 6 |
| Income Before Taxes $20,000 |
$0 | $0 | $0 | $0 |
| $30,000 | $860 | $0 | $0 | $0 |
| $40,000 | $2,550 | $1,670 | $810 | $0 |
| $50,000 | $4,380 | $3,320 | $2,460 | $1,530 |
| $60,000 | $7,110 | $5,430 | $4,270 | $3,160 |
| $70,000 | $10,240 | $8,360 | $6,690 | $5,210 |
| $80,000 | $13,690 | $11,810 | $9,990 | $8,070 |
| Net Assets | $25,000 | |||
| Family Size | 3 | 4 | 5 | 6 |
| Income Before Taxes $20,000 |
$0 | $0 | $0 | $0 |
| $30,000 | $690 | $0 | $0 | $0 |
| $40,000 | $2,370 | $1,490 | $630 | $0 |
| $50,000 | $4,150 | $3,120 | $2,280 | $1,350 |
| $60,000 | $6,790 | $5,160 | $4,040 | $2,970 |
| $70,000 | $9,870 | $7,990 | $6,370 | $4,940 |
| $80,000 | $13,320 | $11,440 | $9,620 | $7,690 |
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 2007 income and apply to the 2008-2009 academic year
