How to Determine My EFC for Student Loans

Expected family contribution, or EFC, is a dollar amount calculated by the federal government when determining your need for financial aid and/or school loans. The calculation takes into account information such as your age, your parents' age, whether or not you are considered legally dependent on them, and most importantly their income. The EFC will help to determine whether you can apply for free school aid from the government. Use online resources that do the calculation for you, free of charge, based on your information. Or you can download a worksheet and do it yourself.

Things You'll Need

  • Your and your parents' most recent tax returns
  • Printer
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Instructions

  1. Use FinAid.org

    • 1

      Visit www.finaid.org. This is a site that has forms you can fill out to calculate your EFC.

    • 2

      Click on "Calculators" on the homepage. Click on "Expected Family Contribution and Financial Aid Calculator." This will be underlined in blue and in the second paragraph of the Calculator page.

    • 3

      Fill out form that begins halfway down the page. In this form you will be asked various questions, including tax information for you and your parents. You can also click on the "QuickEFC Calculator" option, which involves fewer questions and a faster result.

      When done, click "Submit."

    Download Form

    • 4

      Visit www.collegegold.com.

      In the search field, type "EFC Worksheets." This website has a form for independent and dependent students that can be downloaded and used to calculate the EFC manually.

    • 5

      Choose the form based on your dependency status. If you are not sure whether you are considered independent or dependent, you can find the answer at www.finaid.org.

    • 6

      Fill out the form, following the instructions to determine your EFC contribution.

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