One of the most important numbers in the financial aid process for you and your family is the Expected Family Contribution, or EFC. The EFC is the amount your family is expected to contribute towards paying for college. The federal government will determine your EFC when you file the Free Application for Federal Student Aid, or FAFSA. All public institutions and a majority of the private ones in the nation require you to file the FAFSA.
This step of the Wizard provides you an estimator for EFC, federal grants, and loans. It uses the federal methodology to calculate your EFC and your eligibility for Pell Grants and government-subsidized loans. Use it to get a quick, early estimate of your EFC and federal aid. It will also give you a good practice session for filling out the FAFSA form, since you will be entering most of this information into the FAFSA as well. The estimator will require you to provide income information for yourself and your family and it is useful to have copies of the federal tax returns for yourself (if you filed one) and your family on hand. If you don't have the most recent income information available, enter your best estimates.
Please answer the following questions as they apply to you, the student.