WebFinancial aid eligibility is based on a student's financial need, which is the difference between the college's Cost of Attendance (COA) and the student's Expected Family … WebFinancial aid eligibility is based on a student's financial need, which is the difference between the college's Cost of Attendance (COA) and the student's Expected Family Contribution (EFC). The EFC is calculated based on the income, asset and demographic information reported on the Free Application for Federal Student Aid (FAFSA). This …
FAFSA EFC with 2 kids in college - College Confidential …
WebOct 8, 2024 · This means low-income students will often be eligible for more financial aid. For example: Say your EFC is $15,000 and your school’s cost of attendance is $40,000. … WebJul 19, 2024 · The law (see HEA Sec. 474–479) gives three regular EFC formulas: one each for dependent students, independent students without dependents other than a spouse, and independent students with dependents other than a spouse (Formulas A, B, and C respectively). There are two variants of the regular EFC calculation: a simplified formula … trick starr photography
What EFC Is and How it Relates to Paying for College - US News
WebJan 29, 2024 · By comparison, a family with identical finances but two children separated in age by four years would have just one child in college at a time and a parent contribution of just over $12,000, Mr ... WebSep 15, 2024 · For example, if a family today has an EFC/SAI of $60,000 and has 3 kids in college, each would get a prorated share of the EFC/SAI equal to $20,000 ($60,000 ÷ 3 students). If one of them attended a school with a COA of $50,000, that student would have $30,000 ($50,000 – $20,000) of financial need. WebNov 13, 2024 · Cost of Attendance – Expected Family Contribution = Financial Need. Let’s say you’re applying to an elite private school whose cost of attendance is $80,000. The … tern hill road works