Sesson 33.pptVIP

Session 33 Expected Family Contribution (EFC) Deborah Tarpley Marianna Deeken How is EFC Determined? Three Federal Methodology (FM) models Dependent student Independent student Independent student with dependents other than a spouse How is EFC Determined? Three distinct FM formulas Regular Simplified Automatic zero Alternate Formulas Simplified Formula Assets not considered Parents’ AGI or earnings from work $50,000 and Parents are not required to file IRS form 1040 Automatic Zero EFC is automatically zero if Parents’ AGI or income earned from work is $20,000 or less and Parents are not