An Expected Family Contribution (abbreviated EFC) is an amount of money that the Federal government assumes that a student and his or her family are able and willing to pay for higher education. It is calculated by putting the student's income and assets, and those of the student's parents if the student is considered a dependent, through one of three different formulas, depending on whether the student is considered a dependent, is independent without dependents, or has dependents of his or her own.
Typically, need-based financial aid, including loans and grants, will cover the cost of attending college minus the expected family contribution.