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MONEY SAVVY WEEKEND

Money Savvy Quiz

July 02, 1999

When discussing college financing, what is meant by the "efc"?

a. exceptionally ferociously costly

b. estimated family contribution

c. enter financial cushion

Answer: Your estimated family contribution is a pivotal figure when determining how much financial aid a college student will get. That's because the "efc" is compared with the actual cost of attending the student's school of choice. The difference between the cost-including tuition, room, board, books and fees-and the amount the family can pay, is the amount of financial aid that you can qualify for. Got a family member who's about to enroll in college and wondering just how much your family will be expected to pay? Check out the EFC calculator at http://www.collegeboard.org/.

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