Expected Family Contribution for School Year 2007-2008

This calculator is used to calculate the Expected Family Contribution (EFC) and financial need, and to estimate your student financial aid.
     
  Assumptions

Input
Dependency statusDependent   Independent
  Tax Info Parent Info
(complete ONLY
if Dependent)		 Student Info
(required)
  State of legal residence
  Marital status (single/married)
  Age of older parent/student
  Required to file a tax return during the tax year prior to the award year? Yes  No Yes  No
  Eligible to file an IRS Form 1040A, 1040EZ or 1040TEL? Yes  No Yes  No
  Household size
  Number in college
  Financial Info Parent Info
(complete ONLY
if Dependent)		 Student Info
(required)
  Adjusted gross income
  Federal tax paid
  Earned income
Father / Student
  Earned income
Mother / Student's Spouse
+ Untaxed income & benefits
(Worksheet A - untaxed benefits)
  + Retirement Plan deductions (Worksheet B - tax-deferred income)
  - Reductions to total income (Worksheet C - student aid included in AGI)
  Liquid assets
(cash, savings, checking)
  Net worth
(business or farm)
  Other investments
  School Info

 
  Tuition

 

  Fees

 

  Room and board

 

  Books and supplies

 

  Transportation to/from home

 

  Miscellaneous expenses

 

     
 

Any rate of return entered into the calculator to project future values should be a reasonable average return for the period. Rates of return will vary over time, and generally the higher the rate of return the higher the degree of risk.

The information provided here is to assist you in planning for your future. The accuracy of this calculator and its applicability to your circumstances is not guaranteed. Any analysis is a result of the information you have provided. Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon when coordinated with individual advice from qualified professionals.