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EFC (click here to check out more acronyms) or Estimated Family Contribution is calculated using the information that you provide on your Free Application for Federal Student Aid (FAFSA and CSS) application. The calculation is done according to a formula established by the U. S. Department of Education’s Federal Methodology Calculation. It takes into account the total income of your family’s (taxed as well as untaxed income) along with their other financial assets and benefits such as Social Security and unemployment. The size of your family and the number of family members who are going to enroll in college during that particular year are also taken into consideration.
What is EFC?
The Estimated Family Contribution is not an actual amount that students or their family will have to pay towards their college education. It is only a projected contribution.
How is EFC calculated?
Your need for federal student aid from the US Department of Education and other nonfederal sources of financial assistance is determined by subtracting the Estimated Family Contribution from the student’s cost of attendance (COA). The cost of attendance is calculated as the sum of the cost of tuition, room, board, textbooks, transportation and supplies.
Typically, students with higher EFC scores will be eligible for lesser financial aid and students with lower EFC scores will be eligible to receive greater financial aid.
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| Lender | Rates (APR) | Eligibility | |
|---|---|---|---|
 |
6.97%-15.03%* Variable
5.99%-14.00%* Fixed
|
Undergraduate and Graduate
|
VISIT CITIZENS |
 |
6.37% - 16.70% Variable
4.50% - 15.49% Fixed
|
Undergraduate and Graduate
|
VISIT SALLIE MAE |
 |
4.98% - 16.70% Variable
4.07% - 15.66% Fixed
|
Undergraduate and Graduate
|
VISIT CREDIBLE |
 |
6.07% - 11.31% Variable
4.39% - 10.39% Fixed
|
Undergraduate and Graduate
|
VISIT LENDKEY |
 |
6.22% - 16.08% Variable
4.09% - 15.66% Fixed
|
Undergraduate and Graduate
|
VISIT ASCENT |
 |
6.54% - 11.08% Variable
3.95% - 8.01% Fixed
|
Undergraduate and Graduate
|
VISIT ISL |
 |
5.62% - 18.26% Variable
4.11% - 15.90% Fixed
|
Undergraduate and Graduate
|
VISIT EARNEST |
 |
4.98% - 12.79% Variable
8.42% - 13.01% Fixed
|
Undergraduate and Graduate
|
VISIT ELFI |
