Will my EFC change when I transition from high school to college?

Hello all! I'm a bit anxious about financial aid and I was wondering, does anyone know if your Expected Family Contribution (EFC) stays consistent when you move from high school to applying for colleges, or does it tend to change? How should I be preparing for this?

Hello there! It's completely natural to feel a bit anxious about financial aid and how your Expected Family Contribution (EFC) might change. The short answer is that it can change year-to-year as it is recalculated based on your family's most recent tax information and changes in household circumstances, such as a sibling entering or graduating from college. For instance, if you have a sibling who goes to college at the same time as you, your family's EFC might be split between the two of you, potentially lowering your individual EFC.

To prepare, gather accurate financial information and be ready to complete the Free Application for Federal Student Aid (FAFSA) each year you're in school. Stay informed about any changes to your family's financial situation and update your FAFSA accordingly. It's also a good idea to look into scholarships and grants, which do not need to be repaid and are not based on EFC. This proactive approach will make sure you're as prepared as possible! Best of luck with your financial planning!