EFC- Expected Contribution per Year?

Paying for College
1

<p>Is your EFC the expected family contribution per year?</p>

2

<p>It is for this year only. Your EFC is re-calculated every year.</p>

<p>So no, it is not the total family contribution for 4 years.</p>

3

<p>Ok… lol mine is ridiculous, ahhhh.</p>

4

<p>You have lots of company, I suspect! :)</p>

5

<p>1/3rd of my parents salary=my EFC. Yay for people with ridiculous EFC’s!!!</p>

6

<p>EFC is not meant to paid for only from current income. It is assumed your parents have been saving $$. You are expected to use savings, income and loans if necessary.</p>

<p>FWIW, my EFC is 1/3 of my net pay (after taxes). That is not uncommon</p>

7

<p>Agreed with Sue…Colleges assume costs will be paid from three sources…past income (aka savings), future income (aka loans), and current income (that would be current income).</p>

8

<p>Ditto, ditto…
Our EFC for 2008-2009 is GREATER than my husband’s and my combined earned income for 2007. The EFC definitely will include $$ from assumed assets and projected loans. As it should.</p>

9

<p>my EFC is 0!</p>

10

<p>the EFC is about as good of a algorithm I have ever seen. It is dead on exact to about $5 for my family for how much money my mother has over.</p>