The Est. Net price of a College as presented in SCOIR is based on the entered financial data by the Parent. In order for SCOIR to better provide cost figures for Colleges, Parents need to enter financial data into SCOIR. This data is confidential and only visible to the Parent Account. Children and other separate Parent accounts do not see this data. One of the components of the financial calculator is the EFC.
What is an EFC?
Expected Family Contribution (EFC) is a term used in the college financial aid process in the United States to determine an applicant's eligibility for need-based federal student aid, and in many cases, state and institutional (college) aid. When completing an application for financial aide or the FAFSA, the EFC is calculated automatically by the entered data. SCOIR needs this information to help predict the Est. Net Price of a College more accurately, as this can vary widely, Student to Student.
Click on the 'Calculate' tab and enter the required information to get this number.
After all of the questions are answered, clicking 'Calculate' will provide your EFC number. NOTE: Any of the financial numbers can be adjusted by clicking the (Edit) button below the number.