What is expected family contribution?

    Published: 06-16-2009
    Views: 10,935
    Financial advisor Brad Barnett discusses what expected family contribution is.

    Brad Barnett

    Brad received his Bachelor of Science degree from Southern Arkansas University, with a major in Psychology and a minor in Business.  He furthered his education by graduating from the Medical College of Virginia at Virginia Commonwealth University with a Master of Science degree in Rehabilitation Counseling, specializing in Mental Health.  He has been involved in the financial aid and/or rehabilitation professions for the past 15 years. Brad, a Past President of the Virginia Association of Student Financial Aid Administrators (VASFAA), currently serves as the Senior Associate Director of Financial Aid & Scholarships for James Madison University.  Immediately prior to JMU, he served as an Assistant Director of the Financial Aid Office at Virginia Commonwealth University.  Brad has presented numerous sessions at state, regional, and national conferences, and has served on a variety of association committees.  In addition to speaking at professional conferences, Brad has conducted an abundance of workshops and presentations in non-conference environments, including teaching a credit based financial literacy course at JMU entitled “Dollars and Sense.”  Many of the topics Brad’s speaks on include communication, leadership, values, financial aid policies and procedures, financial literacy, and saving for college.  He has also facilitated strategic planning and value development retreats.

    Host: What is Expected Family Contribution?

    Brad Barnett: The Expected Family Contribution is one of the main reasons you do the FAFSA. It s the EFC number. When you do the FAFSA and it goes to the Department Of Education, that number is generated based on the information that was on your application. In short, it s the amount that Federal government believes you and your family can pay to your educational expenses for up and coming year. You may pay more, you may pay less but it s the starting point for a financial aid office, when it looks at how much we think, you can afford to pay for school.