Estimating your expected family contribution (EFC)
The expected family contribution (EFC) is a dollar figure used to determine your eligibility for need-based financial aid. The EFC represents the amount that a family can reasonably be expected to contribute toward college costs (although it isn’t necessarily expected that the family will have this amount immediately available). The EFC is based on a family’s financial situation, including the income and assets of the student and his or her parents (or, if the student is independent, the income and assets of the student and the student’s spouse).
To use these charts for a rough estimation of your family’s expected contribution, choose specific figures within three categories:
- net assets (savings or other investments)
- family size (parents plus children)
- income (before taxes)
For a more precise calculation, or if any of the choices in the categories are not appropriate to your circumstances, use:
| Net Assets | $100,000 | |||
| Family Size | 3 | 4 | 5 | 6 |
| Income Before Taxes $20,000 |
$0 | $0 | $0 | $0 |
| $30,000 | $1,260 | $240 | $0 | $0 |
| $40,000 | $2,870 | $1,850 | $890 | $0 |
| $50,000 | $4,770 | $3,510 | $2,500 | $1,430 |
| $60,000 | $7,380 | $5,640 | $4,280 | $3,040 |
| $70,000 | $10,540 | $8,360 | $6,510 | $4,850 |
| $80,000 | $13,510 | $11,330 | $9,270 | $7,090 |
| Net Assets | $50,000 | |||
| Family Size | 3 | 4 | 5 | 6 |
| Income Before Taxes $20,000 |
$0 | $0 | $0 | $0 |
| $30,000 | $0 | $0 | $0 | $0 |
| $40,000 | $1,550 | $530 | $0 | $0 |
| $50,000 | $3,170 | $2,140 | $1,180 | $110 |
| $60,000 | $5,180 | $3,840 | $2,790 | $1,720 |
| $70,000 | $7,720 | $5,930 | $4,530 | $3,240 |
| $80,000 | $10,690 | $8,510 | $6,640 | $4,950 |
| Net Assets | $25,000 | |||
| Family Size | 3 | 4 | 5 | 6 |
| Income Before Taxes $20,000 |
$0 | $0 | $0 | $0 |
| $30,000 | $0 | $0 | $0 | $0 |
| $40,000 | $1,520 | $490 | $0 | $0 |
| $50,000 | $3,130 | $2,110 | $1,140 | $70 |
| $60,000 | $5,120 | $3,800 | $2,760 | $1,680 |
| $70,000 | $7,660 | $5,870 | $4,480 | $3,200 |
| $80,000 | $10,620 | $8,440 | $6,580 | $4,910 |
Please note that the charts assume the following:
- two parents in the family, both employed and earning equal wages
- age of the older parent is 45
- 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 2008 income and apply to the 2009–2010 academic year
* The federal formula used to determine a family’s EFC has two parts --- the parents' portion and the student's portion. The parent portion of the EFC is based on the parents' adjusted available income and a portion of the parents' assets. For a better estimate of the EFC, go to www.fafsa4caster.ed.gov or use VSAC’s online EFC calculator.
