What are Worksheets?

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What are worksheets?

Worksheets or tables contain the formulas that are used for calculating the Estimated Family Contribution.

Should I do my own calculations? What are the advantages or disadvantages?

  • You should indeed consider doing a rough calculation of your Estimated Family Contribution as it you will be amazed to know – how small little things bring about a big difference.
  • You will have an idea beforehand, on what to answer and how to answer the questions asked on individual aid forms by different schools.However, if you find it tough-you may hire a financial expert who is independent.


Calculating with the help of worksheets is accurate, but they are not approved by the IRS. This means- you cannot use them for calculating your taxes.

I am a dependent student-what will be my expected family contribution, and how will I use worksheets to calculate them?

Before you calculate the EFC- You need to know about the taxable incomes and non-taxable incomes.


The income on which the amount is taxed by the IRS is called as taxable income. However, if the income is below a certain limit, then you won’t have to pay any taxes.

The simplified needs test formula is to calculate your EFC, if and only if – you satisfy all the criteria required for the Simplified Needs Test.

Some schools, don’t consider the simplified needs formula for awarding aid.

So what would you do now? – In this case, you can use the asset information to calculate the EFC.


Prior, to 2011 worksheets were always used for the calculation of the EFC Under both Institutional and Federal Methodology. However, the policy has changed, as these days the colleges don’t provide you with tables and formulas under Institutional Methodology, for the calculation of the EFC.

In special cases you are allowed, i.e. in the case of some sample case studies, but these case studies can be used for informational purposes only.
The EFC would be given on the exact number that is derived from the calculations. Even if, you feel that you deserve a better deal –the number cannot be overturned.

EFC is an important determinant of your financial aid. The more is your estimated family income the less is your eligibility for aid. It can be said that– The Estimated family contribution will vary inversely with the financial aid.

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