Your EFC impacts your eligibility to receive financial aid. Your EFC is a measure of your family's ability to pay for one year of college based on an evaluation of your family's income, assets, and overall financial circumstances.

The EFC may vary from one institution to another, and is generally calculated using one or both of the nationally accepted methodologies.

Federal EFC methodology

• Based on a formula established by the federal government.
• Takes into account family income, assets, size of current household, and the number of family members currently attending college.
• Determines eligibility for federally-sponsored financial aid such as Pell Grants, Perkins and Stafford Loans, and Federal Work-Study Programs.

Institutional EFC methodology

• Used by institutions and organizations to determine a student's eligibility for institutionally-based, private aid programs.
• May vary from college to college.
• Additional factors in a family's financial situation are sometimes considered to determine a student's eligibility for institutional need-based aid.
• May be used instead of, or in addition to, the federal EFC to determine eligibility to receive financial aid from college or private funds administered by the college.

The EFC is the Expected Family Contribution, not just your parent's contribution. You and your parents share responsibility for meeting the cost of college.

What is the selection criteria for non-need-based aid?