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Why is my FAFSA Expected Family Contribution so high?

If your family's income is high, you can expect your EFC to be high. There are some special circumstances (like if there's a large amount of money in a savings account in the dependent student's name) in which your EFC might be high even if your family's income isn't.
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What do I do if my EFC is too high?

You may need to start an appeal process — called professional judgment — to have your EFC and financial aid adjusted if you've already received a financial aid package. Begin by reaching out to your financial aid advisor, who can assist you with the next steps.
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How do I lower my EFC for FAFSA?

Lowering your income in the base year can make a big impact on EFC calculations. Adjusted gross income can be assessed up to 47% and assets are assessed at only 5.64%, so lowering a parent's income in the base year can be eight times more effective in lowering a family's EFC as compared to minimizing parental assets.
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Why did my FAFSA EFC go up so much?

EFC is based on the parents' and student's income and assets. A high EFC is likely the result of high income or a high value of assets as reported on the FAFSA. Assets considered include bank account balances, capital gains and, sometimes, equity held in businesses and real estate.
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What is considered a high EFC number?

The overall average EFC is about $10,000, with an average of about $6,000 for students at community colleges and $14,000 at 4-year colleges. Slightly more than half of students have an EFC of $2,500 or less.
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Why is my Expected Family Contribution (EFC) from the FAFSA so high?

Is an EFC of 4000 good?

For a student with the average American household AGI of $50,000, their EFC typically ranges from $3,000-$4,000. Very wealthy families may receive an EFC that is greater than the cost of an expensive private university.
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Can I still get financial aid if my EFC is high?

The federal government and schools typically provide financial assistance only when families cannot pay. Students can sometimes reduce their high EFC by submitting a FAFSA appeal. Some students can qualify as independent and access financial aid without their parents' involvement.
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What is the EFC for 100k income?

The basic theory is that the lower your EFC, the bigger your financial aid award. A family with an adjusted income of $50,000 and two dependents would expect to have an EFC of around $3,800 without considering any other financial assets. A family with income of $100,000, would have an EFC of approximately $20,000.
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How accurate is the EFC on FAFSA?

Your EFC result won't be as accurate, but it should be in the ballpark. The purpose of the EFC Calculator is to give you a general sense of your eligibility for financial aid to help you understand how much college may cost you.
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What does an EFC of 7000 mean?

This shows that you're eligible for $7,000 in need-based aid. EFC also affects your eligibility and award amounts for federal need-based aid programs.
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Can I dispute my EFC?

A financial aid appeal can either go two ways: it can be denied or approved. If an appeal is approved, the financial aid administrator will make changes on the student's FAFSA. From there, a new EFC will be generated, which will result in a new financial aid package.
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What does EFC of 10000 mean?

If by “EFC” you mean the one calculated from FAFSA, it is used to calculate Pell grant amounts; if your FAFSA EFC is below the maximum Pell grant amount, you get a Pell grant of the maximum Pell grant amount minus the FAFSA EFC. $10,000 is higher than the maximum Pell grant amount, so no Pell grant.
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Does FAFSA check your parents bank accounts?

Students selected for verification of their FAFSA form may wonder, “Does FAFSA check your bank accounts?” FAFSA does not directly view the student's or parent's bank accounts.
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What happens if my parents won't pay my EFC?

If your parents or guardians refuse to pay for college, your best options may be to file the FAFSA as an independent. Independent filers are not required to include information about their parents' income or assets. As a result, your EFC will be very low and you will probably get a generous financial aid offer.
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Why is FAFSA not fair?

“FAFSA does not take into account financial circumstances, thus we, the middle-class struggle the most when it comes to affording these costs of attendance. It all just feels like a cash grab, especially for families that work daily.”
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What does an EFC of 14000 mean?

An EFC score of 014000 means your family is expected to contribute $14,000 toward one year of your education.
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What does 999999 EFC mean?

EFC 999,999 is the highest and generally means that a student will not have access to options like the Federal Pell Grant, though may be able to use federal student loans and/or work-study, depending on certain other factors.
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What does an EFC of $50000 mean?

An Expected Family Contribution (EFC) of $50,000 means that the family is expected to contribute $50,000 toward the student's education expenses for the academic year.
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What does an EFC of $20000 mean?

An Expected Family Contribution (EFC) of $20,000 on the FAFSA (Free Application for Federal Student Aid) means that the federal government has determined that your family is expected to contribute up to $20,000 towards your college education for the upcoming academic year.
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Is a EFC of 00000 good?

Basic formula, total cost of attendance minus your EFC number equals your family financial need. When your score is o0000 colleges consider your financial aid need “exceptional” and often times use the term “full-need student” (not to be confused with “need met” by each college explained below).
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Do colleges honor EFC?

The EFC caused confusion for years, experts say, because many families believed the calculation was the amount they were required to pay for college. However, that wasn't true. Colleges determine financial need by subtracting the student's EFC, now the SAI, from the total cost of attendance.
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Should I even bother with FAFSA?

Even some merit-based scholarships offered by colleges and universities require applicants to file the FAFSA. Thus, many college planning experts recommend that students from higher-income households also fill out the FAFSA (or, if your college instructs you, the CSS Financial Aid Profile form).
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What if my EFC is 5000?

» LEARN: How much financial aid can I get? Say, for example, a school's total cost of attendance is $20,000 and your EFC is $5,000. You could qualify for up to $15,000 of need-based aid through programs like federal Pell Grants, direct subsidized loans and work-study.
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What does EFC of 8000 mean?

Your college will subtract your EFC from your COA to determine your financial need. For example, if your COA is $20,000 and your EFC is $8,000, your financial need is $12,000. This means you are eligible for a maximum of $12,000 in need-based aid. However, colleges don't have to meet 100% of your financial need.
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What does an EFC of $4000 mean?

Your EFC is a dollar amount. If your EFC was 4,000 and your college costs are estimated to be only $4,000, you would not be eligible for any need-based aid. Your EFC is one factor that determines how much federal aid you are eligible for, although it is not necessarily how much you will receive.
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