Glossary of Terms
Expected Family Contribution (EFC)
The EFC is a calculation — grounded in financial assistance methodology, best practices, and school-specific tuition-assistance policies — of parents’/guardians’ ability to pay towards educational expenses. It is calculated using an in-depth assessment of income, assets, debt, non-discretionary expenses, family size, number of children in tuition-charging schools, and other financial factors. If the student holds significant assets in their own name, the value of their assets will also be considered in the calculation of the expected family contribution.
Parent Financial Statement (PFS)
A required in-depth financial questionnaire that parents/guardians must complete and submit on the School and Student Services (SSS) website to be considered for tuition assistance. For children of divorced, separated, or never-married parents who live in separate households, both parents must complete and submit their own separate Parent Financial Statements.
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