What contributes to the EFC?

knightforum
Wed, 27 May 2009 13:30:08 +0000

On FAFSA are checking/savings accounts counted towards the EFC?

I have been told yes and no on this question, so now I am looking for a solid answer.

I thought that EFC was based solely on income, but now I hear that it is also determined by the amount of money in checking/savings accounts.

Please help me clarify this.