Does EFC of 30% of Income Seem Correct?

Archive Ask The Dean Archive
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<p>Question: When we used a Website to calculate our EFC, it came up with a figure that was approximately 30% of our income. We do not really have any liquid assets and are paying parochial school tuition for four children. My son made the first cut for the National Merit Scholarship last year, […]</p>

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<p>It depends on how wealthy you are. As your wealth increases, the percentage of your wealth you are expected to pay will also increase.</p>

<p>For instance, if your parents make $20k/year, it’s likely that your EFC will be about $0, or 0% of income.
My mom makes about $40k/year, and our EFC is about $6k, and so EFC is 15% of income.
As you get into incomes of $80k/year, I imagine this will hit about $15-20k (about 20-25%).</p>

<p>So if you’re making $120k/year or more, expect to have an EFC of around 30%. If your income is lower than that, then that’s a bit odd.</p>