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Breaking down the Expected Family Contribution (EFC).
The amount your family can afford to contribute to your college education is called your Expected Family Contribution (EFC). The federal processor determines your EFC from the information in your FAFSA. The following table will give you a rough estimate of your expected family contribution. The table assumes the following:
- Parents are married.
- The age of the older parent is 45.
- Both parents work and take standard tax deductions.
- There are four people in the family with one in college. The student has work earnings of $2,000 annually.
| Gross Income | Estimated Family
Asset Equity | Estimated
Family Contribution |
| $30,000 |
$5,000 |
$ 0 |
| $40,000 |
$5,000 |
$1,497 |
| $50,000 |
$10,000 |
$3,124 |
| $60,000 |
$10,000 |
$5,158 |
| $70,000 |
$15,000 |
$7,993 |
| $80,000 |
$15,000 |
$11,441 |
| $90,000 |
$20,000 |
$14,793 |
| $100,000 |
$20,000 |
$17,770 |
To estimate how much financial aid you will need, start with any school’s cost of attendance and subtract your EFC.
Remember that financial aid is meant to supplement your family’s ability to pay. While Albion College will make every effort to meet your demonstrated need, the primary responsibility for meeting educational expenses rests with your family.
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Scholarships and Financial Aid 