One of the most common questions almost every parent has when the sign up to work with us is, How The EFC or Expected Family Contribution Is determined 2019? Various colleges will determine the financial need in different ways. It all depends on what form(s) the college requires.
First, let’s talk about the CSS Profile that the College Board will process. Under the Profile, the college will calculate the EFC (Estimated Family Contribution) using the IM (Institutional Methodology) or CM (Consensus Methodology) which will determine how much gift-aid (grants) the student will qualify for.
The second form, the FAFSA (Free Application For Federal Student Aid) that will calculate the EFC (Expected Family Contribution) using the Federal Methodology that will determine how much Federal Aid (Pell Grant, FSEOG, subsidize and unsubsidized loans, and work-study), the student will qualify for. If the college only requires the FAFSA, they will utilize it to determine all need-based aid.
Finally, some colleges who do not require Profile may have their own institutional form that will be required along with the FAFSA. If you would like more information or clarification on financial need, please contact our office staff.
