EFC stands for Expected Family Contribution. It is how much money your family is expected to contribute to a college education for one year. The EFC is a measure of your family’s financial strength calculated according to a formula established by law on taxed and untaxed income, assets, and benefits (such as Social Security or unemployment). Schools use the EFC to determine your federal student aid eligibility and financial award. Lowering your EFC can increase the financial aid awards available.
Are you serious about your money? If so then now is the time to align your income, assets and personal finances to lower your EFC and get the maximum amount of money from colleges without sacrificing your retirement or life’s savings.
It’s no secret that the college planning process can be very complicated. Plus, it’s a process that doesn’t simply happen overnight. It takes time to navigate, and it requires specific planned activities combined into a formula for maximum results. The plan must be executed by both student and parents, synergistically to achieve the desired outcome, preferably a solid school with abundant financial and merit awards available.
As a Certified College Planning Specialist I work with families that are serious about their money, serious about their college bound child’s education and serious about their own financial security including retirement. These are three key qualities necessary to harvest free money for college.
It is important that your EFC is calculated correctly to avoid thousands of dollars in costly mistakes. The federal formula provides allowances for savings and assets. You are not expected to sacrifice your life’s savings to pay for your child’s education. Only a percentage of assets are considered so let’s start planning, navigating and reaping the awards together. Enjoy a complimentary consultation and let me personally calculate your EFC… just mention SC Magazine. The time is now to secure free money for college and a complimentary consultation with a College Planning Expert.
Brian Safdari is a Certified College Planner at College Planning Experts, located at 28494 Westinghouse Place, Suite 206 in Valencia. For more information, please call 661-295-9946 and visit www.collegeplanningexperts.com.