| When your FAFSA is processed, a
formula is applied to the information you provided. Congress established
this formula, which determines your financial need. The formula takes into
account your family's income, some assets, and certain expenses that are
required (taxes), necessary (basic living expenses), and related to
earning income (employment-related expenses).
The formula result is the Expected Family
Contribution, or EFC, which indicates how much money you and your family
are expected to contribute toward your higher education expenses for the
coming academic year.
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