Expected Family Contribution (EFC) Calculator

Expected Family Contribution (EFC) Calculator

Expected Family Contribution (EFC) is a form for calculate and to approximate your student financial aid and this is also free service.

This form calculates the EFC for a single year, so please enter school costs, scholarships and financial information consequently.

In that section, includes more detailed instructions for the items of each section. If you faced any problem to fill up form with a particular question, click on the question mark (?) adjacent to the field label.

After assure filled out the form, don’t forget to press the “Calculate” button at the bottom of the form.

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Need Analysis Methodology:

Use Tables for Award Year:

Choose "Federal Methodology" to calculate your expected family contribution (EFC) and financial need using the Federal Need Analysis Methodology used by the Federal processor and school financial aid administrators. Choose "Institutional Methodology" to get an estimate of your financial need using a formula similar to the one used by many private colleges and universities.

Student status:

The food in support of a scholar to be alive considered "independent" in support of pecuniary aid purposes are very strict. If you aren't genuinely on your own, you be supposed to first-class "Dependent Student" under. Employment the dependency status form to determine whether you are a dependent before on your own scholar.

If you are an on your own scholar, figure out not fill taking part in the close relative in a row section, but figure out add the salary and assets of your other half to your own taking part in the scholar in a row section and provide your family unit in a row (not your parents' family unit information) taking part in the family unit in a row section.

Unmarried mom edifying funding along

Enrollment:
	Full Time 3/4 Time Half Time Less Than half time
Dependency Status:
	Dependent Student Independent Student
	Yes No
If independent, please indicate your marital status:
	Single Married (only student is enrolled at least half time) Married (student and spouse both enrolled at least half time)

Family information:

The combine to all the rage descendants is the descendant’s size, as well as the learner. It must include the add up to of make somewhere your home all the rage the household with the intention of hope against hope get a hold supplementary than semi their support through the judgment time from the household.

•           If the scholar is objective, include the student's next of kin. And include the student's children if they get a hold further than partially their support from the scholar. Other make somewhere your home may perhaps be there incorporated no more than if they at this time live with the scholar, at this time get a hold further than partially of their support from the scholar, and pray prolong to get a hold further than partially their support from the scholar in the course of the honor day.

•           If the scholar is dependent, include the scholar and the student's parents. Besides include the parents' other children if they get a hold new than partly their support from the parents (or if they would come to pass essential to provide parental in rank while submitting a FAFSA). Other make somewhere your home may possibly come to pass integrated solitary if they at this time live with and at this time get a hold new than partly of their support from the student's parents, and preference keep on to get a hold new than partly their support from the student's parents at some stage in the verdict day.

The figure in the field of college be supposed to include simply individuals variety members who are enrolled by the side of smallest amount partially point in time and working on the road to a degree in the field of an eligible accredited Title IV establishment of privileged education. (Students enrolled in the field of single of the armed forces academies, such in the function of West top and Annapolis, get something done not count.) The learner be supposed to for all time survive counted, even if the learner is enrolled with a reduction of than half-time. Parents are not incorporated in the field of the figure in the field of college symbol, but as substitute duty commerce teach on behalf of a specialized way of thinking reconsider.

Household Size (Number in Family): ?
Number in College: ?

Parent Information:

If the parents are split, keep a record just the takings and assets in place of the custodial father in the sphere of the father in a row section. If the custodial father has remarried, however, additionally include the economic in a row in place of the stepparent.

The following questions ask whether the parents were eligible to chafe single of the simpler ask too much of forms, not which form was in point of fact filed.

Were your parents required to file a tax return during the tax year prior to the award year?
Yes
No

If your parents filed a tax return, were they eligible to file an IRS Form 1040A, 1040EZ, or 1040TEL?
Yes
No

If one of the parents is deceased and the living parent has not remarried, indicate the number of parents as "One".

Number of Parents:
One
Two

When filling in the "State of Legal Residence" please use the appropriate two-letter state abbreviation.

State of Legal Residence: ?
Age of Older Parent: ?

Please supply the net home equity figure only for the institutional methodology.

If you leave the Federal confront Paid line of work total, it desire process an estimate based on the Adjusted combined pay packet. To spell out zilch confront paid, enter a '0' in the field of the line of work as a substitute of leaving it total.

Spreadsheet A (Untaxed Benefits) reports settlement so as to were not incorporated in the field of taxable pay packet but which are counted for the duration of the need analysis process. These amounts desire be present added to taxable pay packet. This includes the following:

•  Earned Income Credit (EIC)
• Additional child tax credit
• Welfare Benefits, including Temporary Assistance for Needy Families (TANF). Do not include food stamps or subsidized housing.
• Untaxed Social Security benefits. 

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Spreadsheet B (Tax-Deferred and Untaxed Income) reports pay packet so as to was not incorporated in the field of taxable pay packet but which are counted for the duration of the need analysis process. These amounts long for be located added to taxable pay packet. This includes the following:

·         Contributions to tax-deferred pension and savings procedure.

·         IRA deductions and payments to SEP, easy and Keogh procedure.

·         Child support established intended for all children. Perform not include further treatment or else adoption payments.

·         Tax-exempt draw your attention earnings.

·         Untaxed portions of IRA distributions and pensions, apart from rollovers.

·         Housing, food and living allowances paid to members of the armed forces, clergy, and others.

·         Veterans' noneducation profit such in the same way as Disability, Death Pension, Dependency & Indemnity Compensation (DIC), and VA didactic Work-Study allowances.

·         Any other untaxed earnings or else profit not reported elsewhere on Worksheets A or else B, such in the same way as worker's compensation, untaxed portions of railroad retirement profit, Black Lung profit, disability, and so on.

·

Spreadsheet C (Student Aid integrated in the sphere of AGI) reports clear types of taxable learner aid takings and credits with the aim of were integrated in the sphere of AGI but which are not counted in the need analysis process. These amounts willpower be located subtracted from taxable takings, by this means increasing aid eligibility. This includes the following: 
·          

Education credits (Hope and days Learning ask too much of Credits).

·         Child Support paid for the reason that of divorce or else separation (do not include support in place of children integrated in the sphere of the student's parents' household, in the same way as reported in the sphere of the "Number in the sphere of Household" question).

·          
Taxable pay packet from Federal Work-Study and other need-based exert yourself programs. Include the need-based employment portions of fellowships and assistantships.

·         Other learner allowance and scholarship aid reported in the sphere of adjusted combined takings (AGI). This includes AmeriCorps awards (awards, living allowances, and fascinate accrual payments), in the same way as well in the same way as learner grants and scholarships (only the amount with the aim of is taxable and was integrated in the sphere of AGI, such in the same way as the amount in the sphere of spare of qualified elevated education expenses).

Parents should include only those figures that were reported on their income tax return.

Adjusted Gross Income (AGI): ?
Federal Tax Paid: ?
Earned Income (Father/Stepfather): ?
Earned Income (Mother/Stepmother): ?
Worksheet A (Untaxed Benefits): ?	calculate
Worksheet B (Tax-Deferred & Untaxed Income): ?	calculate
Worksheet C (Student Aid Included in AGI): ?	calculate
Liquid Assets (Cash, Savings, Checking): ?
Net Home Equity: ?
Net Worth Business or Farm: ?
Other Investments: ?

Student Information:

The following questions ask whether you (and your spouse) were eligible to file one of the simpler tax forms, not which form was actually filed.

Were you (or your spouse) required to file a tax return during the tax year prior to the award year?
Yes
No

If you (or your spouse) filed a tax return, were you eligible to file an IRS Form 1040A, 1040EZ, or 1040TEL?
Yes
No

When filling in the "State of Legal Residence" please use the appropriate two-letter state abbreviation.

If you leave the Federal ask too much of Paid ground unmitigated, it willpower calculate an estimate based on the Adjusted combined takings. To stipulate nil ask too much of paid, enter a '0' in the sphere of the ground as a substitute of leaving it unmitigated.

Spreadsheet A (Untaxed Benefits) reports remuneration with the aim of were not integrated in the sphere of taxable takings but which are counted in the need analysis process. These amounts willpower be located added to taxable takings. This includes the following:

·         Earned takings repute (EIC)

·         Additional teenager ask too much of repute

·         Welfare remuneration, plus Temporary Assistance in place of poor Families (TANF). Perform not include food stamps or else subsidized housing.

·         Untaxed Social Security remuneration.

·

Spreadsheet B (Tax-Deferred and Untaxed Income) reports takings with the aim of was not integrated in the sphere of taxable takings but which are counted in the need analysis process. These amounts willpower be located added to taxable takings. This includes the following:

·         Contributions to tax-deferred pension and savings procedure.

·         IRA deductions and payments to SEP, effortless and Keogh procedure.

·         Child support customary in place of all children. Perform not include promote fear or else adoption payments.

·         Tax-exempt fascinate takings.

·         Untaxed portions of IRA distributions and pensions, not including rollovers.

·         Housing, food and living allowances paid to members of the forces, clergy, and others.

·         Veterans' non-education remuneration such in the same way as Disability, Death Pension, Dependency & Indemnity Compensation (DIC), and VA edifying Work-Study allowances.

·         Any other untaxed takings or else remuneration not reported elsewhere on Worksheets A or else B, such in the same way as worker's compensation, untaxed portions of railroad retirement remuneration, Black Lung remuneration, and disability, and so on.

·

Spreadsheet C (Student Aid integrated in the sphere of AGI) reports clear types of taxable learner aid takings and credits with the aim of were integrated in the sphere of AGI but which are not counted in the need analysis process. These amounts willpower be located subtracted from taxable takings, by this means increasing aid eligibility. This includes the following:

·         Education credits (Hope and days Learning ask too much of Credits).

·         Child Support paid for the reason that of divorce or else separation (do not include support in place of children integrated in the sphere of the student's parents' household, in the same way as reported in the sphere of the "Number in the sphere of Household" question).

·         Taxable pay packet from Federal Work-Study and other need-based exert you programs. Include the need-based employment portions of fellowships and assistantships.

·         Other learner allowance and scholarship aid reported in the sphere of adjusted combined takings (AGI). This includes AmeriCorps awards (awards, living allowances, and fascinate accrual payments), in the same way as well in the same way as learner grants and scholarships (only the amount with the aim of is taxable and was integrated in the sphere of AGI, such in the same way as the amount in the sphere of spare of qualified elevated education expenses).

·

Students ought to include just folks statistics with the aim of were reported on their takings ask too much of return.

State of Legal Residence: ?
Student Age as of December 31, 2014: ?
Adjusted Gross Income (AGI): ?
Federal Tax Paid: ?
Earned Income (Student): ?
Earned Income (Student's Spouse): ?
Worksheet A (Untaxed Benefits): ?	calculate
Worksheet B (Tax-Deferred & Untaxed Income): ?	calculate
Worksheet C (Student Aid Included in AGI): ?	calculate
Liquid Assets (Cash, Savings, Checking): ?
Net Home Equity: ?
Net Worth Business or Farm: ?
Other Investments: ?

For the "Scholarships and Other Resources" field, please include any outside scholarships and educational resources. Resources include veteran's benefits and prepaid tuition plans. If the scholarship or resource is to be paid over four years, please specify the amount available during a single year.

Scholarships and Other Resources: ?

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Estimated School Costs:

Information about school costs and standard "student budgets" can be obtained from financial aid and admissions brochures and catalogs provided by the college or university or by consulting college cost references such as those published by Peterson's. Please enter the costs for a single year.

	School #1	School #2	School #3
Tuition:
Fees:
Room and Board:
Books and Supplies:
Transportation To/From Home:
Health Insurance:
Incidental Expenses:

This form is based, in part, upon published EFC formulas provided by the US Department of Education. It was implemented by Mark Kantrowitz. Advice, information, and comments were provided by Michael Alexander, Steve Brooks, Ellen Frishberg, Richard Heckman, D. Sherwin Hibbets, Phyllis K. Hooyman, Chris Johnson, Geri R. Larsen, Steven A. Murray, Chris Tillman and Ann White.