ED’s Electronic Announcements (EAs) on IFAP: PROCESSING FOR 2014-2015
EA – Posted September 19, 2013 – (Application Processing). 2014-2015 Expected Family Contribution (EFC) Formula Guide
The annual update to the EFC Formula Guide is provided in this announcement. The EFC Formula Guide gives all of the details of how a student’s EFC is calculated, including the charts that detail the allowances and taxation rates used in the formula. It also contains worksheets so that schools may calculate an estimated EFC. This EFC Formula Guide with its included worksheets can be used as an excellent training tool to help staff become aware of what goes in to the calculation of an EFC and what items may affect the its calculation.