A lower EFC qualifies you for more aid. An EFC of $0 qualifies for maximum Pell Grant. The actual formula is more detailed than this estimate.

Is EFC what I will actually pay?

Not necessarily. EFC is a financial aid eligibility index, not a bill. Actual cost depends on each school's aid package.

Has the EFC been replaced?

Starting 2024-25, the FAFSA replaced EFC with the Student Aid Index (SAI). The concept is similar but the formula has changed.

Estimate your Expected Family Contribution (EFC) for college financial aid based on income, assets, and family size.

Parent Annual Income ($)

Parent Assets ($)

Savings, investments (not home equity or retirement)

Family Size

Students in College

Estimated EFC

Estimated Need ($30k School)$30,000

Estimated Need ($60k School)$60,000

Estimated EFC vs Parent Annual Income ($)

The EFC determines your eligibility for need-based financial aid.

EFC ≈ (22% of Income + 5.6% of Assets - Family Allowance) / Students in College

The actual FAFSA formula is more complex, but this provides a reasonable estimate. A lower EFC means more aid eligibility.

Parent income $75,000, assets $50,000, family of 4 with 1 student.