Expected Family Contribution Formula
What is the Expected Family Contribution Formula?
The Expected Family Contribution (EFC) is a number that determines students’ eligibility for federal student aid. A student’s EFC is calculated based on EFC formulas, which use information provided on the student’s Free Application for Federal Student Aid (FAFSA) to calculate how much they are expected to pay out of pocket.
How is My Expected Family Contribution Calculated?
There are three regular EFC formulas that are used to calculate your Expected Family Contribution.
- Formula A (for dependent students)
- Formula B (for independent students without dependents other than a spouse)
- Formula C (for independent students with dependents other than a spouse)
Check out the 2023-2024 Federal Student Aid Handbook to find out which category you fall into.
Can I Qualify for Zero EFC?
There are some students who may automatically qualify for zero Expected Family Contribution based on several factors determined by the Office of Federal Student Aid
If your EFC is zero, this means that your family is not expected to contribute financially toward paying for your education. Students with an EFC of zero often have exceptional financial need, and therefore qualify for larger amounts of financial aid.
Please see the 2023-2024 Federal Student Aid Handbook for a full list of requirements.
Independent students without dependents other than a spouse do not qualify for an automatic zero EFC.
Financial Aid at Goodwin University
At Goodwin University, we believe affording your education shouldn’t be complicated. That’s why we offer a variety of financial aid opportunities to help you pay for college including scholarships, grants, student loans, and work-study opportunities that provide a regular paycheck.
Learn more about how Goodwin can help you crush your career goals without breaking the bank!
We’re ready when you are
- Enrollment is hassle-free, and it’s easy to get started.
- Financial aid is available, and we’re still accepting applications.
- You will find comprehensive support services that will get you through college and into a great career.
- We are veteran-friendly, and we understand and respect the needs of veteran students.
- If you want to transfer in credits, we can typically review your transcripts of prior learning in less than one business day.
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