The EFC or Expected Family Contribution, is the dollar amount representing how much of a family’s financial resources should be available to help pay for school. It is derived from a formula created by Congress and it utilizes various data acquired from the FAFSA for its calculations, such as the student’s and/or parents’ Adjusted Gross Income (AGI), assets (savings and checking accounts), and benefits. The EFC is subtracted from the school’s Cost of Attendance (tuition, books, fees and living expenses) to determine eligibility for Federal need-based aid.