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This document outlines the Expected Family Contribution (EFC) formula used to determine the amount a family is expected to contribute towards a student's college costs, based on various financial
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How to fill out EFC Formula, 2008-2009

01
Gather necessary financial information including income tax returns, W-2 forms, and any federal benefits received.
02
Determine the student's and parents' assets, including savings accounts, investments, and property.
03
Use the EFC Formula worksheet provided by the institution or financial aid office to organize your data.
04
Complete the income section by entering adjusted gross income and any untaxed income sources.
05
Fill out the asset section by detailing cash, savings, and investments.
06
Input the number of family members and the number of family members attending college.
07
Follow the math outlined on the EFC Formula worksheet to calculate your expected family contribution.
08
Double-check all inputs for accuracy and ensure that the calculations match the EFC Formula requirements.

Who needs EFC Formula, 2008-2009?

01
Students applying for federal financial aid to attend college or university.
02
Parents or guardians of students seeking to understand family financial contribution requirements for college.
03
Educational institutions that need to assess financial aid eligibility for their applicants.
04
Financial advisors or counselors assisting families in planning for college expenses.
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1:11 2:12 So click on view state report. And your EFC number will be listed at the top of the page. You canMoreSo click on view state report. And your EFC number will be listed at the top of the page. You can simply copy this number and paste it in this field of the application.
When you use the expected family contribution (EFC) calculator, we collect personally identifiable information to determine if you're dependent or independent, including an estimate of how much the student's family will be expected to contribute for the year and insight into the student's financial aid eligibility.
The EFC for a dependent student is calculated using the FAFSA data for the student and his or her parents. The CPS calculates the parents' contribution (which includes their assets), the student's contribution from income, and the student's contribution from assets; the EFC is the sum of these three.
COA – EFC = Financial need For example, if your college's total COA is $30,000 and your EFC is $12,000, you could expect to receive up to $18,000 in need-based aid, such as Pell Grants, subsidized loans and work-study programs.
There could be several reasons why your EFC is high with a low income. If your family has a high number of investments or other assets, this could skew your EFC. It is also possible that you made a mistake on the application.

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The Expected Family Contribution (EFC) Formula for the 2008-2009 academic year is a calculation used to determine a student's eligibility for federal student financial aid by assessing the family's financial situation.
Families who are applying for federal financial aid for college students are required to file the EFC Formula, which typically involves completing the FAFSA (Free Application for Federal Student Aid).
To fill out the EFC Formula for 2008-2009, individuals need to complete the FAFSA form, providing information on income, assets, family size, and other relevant financial details.
The purpose of the EFC Formula is to determine how much financial support a family can contribute towards a student's education, which helps in allocating federal and state financial aid.
The information that must be reported includes the family's income, assets, taxes paid, number of family members in college, and any other financial obligations or resources.
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