How to Reduce Your EFC and Increase Your Financial Aid Elgibility

EFC Tune-UP™ Calculates Your EFC Providing Reduction Strategies

And Measures College Affordability | Generosity 

Step # 1 – Project your Expected Family Contribution (“EFC”) FAFSA and CSS PROFILE if applicable OR we’ll use your EFC number if you already have it.

Step # 2Strategy Review EFC Inputs  – We will check our EFC Reduction Check-List  providing a before and after graphical representation.

horizontal graph efc calculation before after

Step 3 – Use your projected EFC Number to Measure Financial Aid Eligibility, Need Based And Grant Aid. 

Step 4Determine College Affordability examine your potential “funding gap” (possible out-of-pocket costs) by each selected school.

Step 5Identify the Most Generous Schools from the schools you are considering and/or schools that you might consider.

graduation cap with gold tassle[Strategy Alert]: Projecting the funding gap before financial aid awards come out is important because you will be more informed to properly evaluate the awards. In addition there is little time to decide prior to the May 1st deposit deadline for many schools. Remember the FAFSA dictates the federal Title IV Financial Aid awarded regardless of school.

Dorothy Speaks About Coach-for-College Service

“Given my status at the time, I felt completely lost and was afraid to make the wrong move given the risks. I wanted guidance and wasn’t completely sure who to turn to. I exchanged emails with Mr. Kuhner then moved forward with his coaching service. I feel that coaching helped me reflect on the current situation better and see different point of views. I definitely received information which I do not think could come from another source. My entire situation was nerve wracking, and I did not feel I was prepared to handle it on my own. Now, I feel great that my problem is resolved. And even better that I have gained knowledge I did not previously know or fully understand. It was also a pleasure working with Mr. Kuhner (Coach-for-College), who was nothing but professional in assisting me.” – Dorothy D.- New Jersey

Step 1 Calculate Your EFC

  • When You Enroll, we’ll email you and set up a  “get acquainted” phone call.
  •  You will receive a link to our online EFC Calculator where you input some data, then securely upload the data into our financial aid software (Your time 10-15 minutes). Or, if you prefer we can do it over the telephone.
  • If you already know your  EFC number and you are satisfied then we’ll proceed to step 2.

Step 2 Go Through EFC Formula Reduction Checklist

  •  Assessable and Non-Assessable Assets | Income including the treatment of Home Equity/Small Business Interests.
  • Deductions from Financial Aid Income.
  • Untaxed Income and Benefits (what is tax deductible can add to your financial aid  income)
  • What are Allowances and how they benefit you
  • What are strategies within the rules that lower your EFC and “Maximize Financial Aid Opportunity”?
  • BONUS Section: Rental Property Owners, How to Exclude Rental Property from FAFSA!

graduation cap with gold tassleStrategy Alert: There are two objectives. First, try to lower your EFC number when possible. Two, manage your EFC number calculation moving forward because you qualify for financial each year and future events can cause you to lose financial aid or be awarded more financial aid. 

Costly mistakes can occur without monitoring how family financial events affect your EFC calculation.

Step 3 Financial Aid Eligibility Report

Shows Percentage Need Met By School

Eligibility report shows financial aid estimates by college based upon the information they file (IPEDS).

Percentage “Need Met” is the total cost of attendance less your EFC times the percentage of  total financial aid the school provides on the average to incoming freshman. Schools do provide merit aid without financial need, percentage need met is not part of that process.

How important is “percentage need met” and conversely “unmet need”  (funding gap or out-of-pocket costs) in the college selection process?

Here is an example of a flag ship east cost state school, out-of-state student with EFC 00000. The school meets 63% of need met, cost-of-attendance out-of-state about $44,000 per year, the family is left with $16,280 (100% – 63% = 37% multiplied by $44,000 = $16,280.

This assumes the student receives the 63% need met which did not happen until we filed a financial aid appeal.

Remember the Expected Family Contribution of ZERO?

Many people think that if your EFC is 00000 you will not have to  pay anything for college. This is not true.

Going through the EFC Tune UP™ provides a projection of  financial aid by school based upon your EFC number so  you can  accurately focus on the affordability issue.

In the above example,  the family would have understood this big funding gap and probably would have opted for a lower out-of-pocket cost school.

EFC Tune UP™ also alerts  the family if they choose (they did  not  go through the course in advance) to attend  this school what a  fair financial aid award would be.

They did not receive a fair offer (out-of-state-student), we filed an appeal and received more than the average  63% financial need met referenced above including two new grants, but still a significant funding gap remained.

Step 4 Your Funding Gap Measures College Affordability

  • How to Leverage Financial Aid Eligibility Reporting, Understanding Percentage Need Met in sorting Schools and how to project your actual funding gap (hint: do it with and without loans)?
  • How to create Competition among Schools.
  • How should you list the schools  on your FAFSA form?
  • Why You Must Examine a School’s Average Freshman Profile When you Build Your College List.
  • How to use Student Positioning which helps with Admissions and Financial Awards?
  • How to increase your chances for Merit Awards (free money)?

Step 5 – Find the Most Generous Schools Compare Step 4

Below part of the financial aid eligibility report demonstrates average % need met that that constitutes needs based financial aid.

Needs based financial aid consists of Gift Aid and Self Help.

Aid without need is provided to students where family income is too high for need-based financial  aid.

Gift Aid as  the names implies does  not have to be  paid back, grants  and scholarships fall into this category.

Self  Help includes student loans and  federal work study.

Data for Need Met Gift Aid Self Help By College

Percentage Need Met , Gift Aid and Self Aid Percentages, Valuable Information For Several Reasons

Reporting That Provides You

With School Specific Information

The student information below is  also included in the Financial Aid Eligibility report.

This information becomes very valuable when making conclusions about step 5 and step 4 information. Of particular note is freshman retention rate, graduation rate , and average student debt.

Failure to graduate in four years (only 35% do) is arguably one of the most costly mistakes going to college.

High income  families can examine the average merit aid award without financial need, example below $5,545.

Financial Aid Needs Based Without Need Enrollment Data

 Individual College Research Intelligence

Two Page Summary Reports

Email us the colleges you want to consider. These two page summaries simplify your life with almost everything you need to know about a school on two pages.

This two Page PDF allows you to quickly filter colleges for some of your key decision making metrics. You can easily assemble key data into spreadsheet for comparisons and work in progress, easily see key deadlines for each school.

We use this report with our personal coaching clients to track deadline dates and to complete some of our customized spreadsheets we use to easily compare and rank colleges based upon specific objectives.

Remember, Two Approaches Can Help Your Family

Reduce Your EFC Score? Minimize Foolish Mistakes!

There  are two important considerations when examining how you can reduce your EFC number.

  • First, see if you can minimize you your EFC number. For success you must understand the terminology (or hire someone that does) within the EFC calculation then how the rules dictate the result. EFC Tune-UP™ goes through a check-list of possible reduction strategies reviewing “now”” and possible “reduction strategies” into the future..
  • Second, eliminate mistakes that can result in a higher EFC number than necessary, this is where understanding both the terminology and the rules are paramount!

graduation cap with gold tassleStrategy Alert: EFC Tune-UP includes detailed analysis of of how income and assets  are reported that allows you to consider what  strategies within the rules you might consider based upon your family’s financial situation. The objectives are simple, make the most informed decisions and eliminate  surprises.

Recap – WHAT Does EFC Tune UP™ Do For You

How Can It Help You?

  • Identify Your Projected Current Expected Family Contribution – “EFC”.
  • Look at ways to decrease your EFC and help you eliminate financial aid mistakes.
  • You select colleges and we provide Financial Aid Eligibility information.
  • We provide two page informational guides for each of your selected colleges that provides key metrics and saves you a tremendous amount of time and frustration search college websites.
  • Some Strategies are time sensitive, longer you wait the lower the impact.

Is This Going To Be Complicated?

No. You should be able to complete the calculator  information in less than 15 minutes.

Our explanations are broken down into modules  using power point slides when providing rules, for example what are deductions from financial aid income? They are listed on a slide/s.

Please remember, the information we provide is  personalized  to your family’s individual financial situation.

Obviously we never share your information with anyone.

Is the EFC Tune UP™ Affordable?

 Personalized Family EFC Financial Aid Reporting

Here are the steps for your EFC Tune-UP™.
1. When You Enroll, we’ll email you and set up a  “get acquainted” phone call.
2. You will receive a link to our online EFC Calculator where you input some data, then securely upload the data into our financial aid software.
3. We’ll review  your results, provide you a summary of your EFC calculation and provide any suggestions that might lower your EFC, providing you a before and after graph that itemizes the recommendations.
4. Based upon colleges that you select or we might recommend, we’ll provide you Financial Aid Eligibility comparisons that show schools side-by-side, 5 per page up to 25 schools.
5. The Financial Aid Eligibility information can be used when you receive your financial aid award for appeal consideration – remember some schools send low-ball financial aid awards. If they report their need- meet as 85% of financial need and their award to your student is 40% then an appeal might be in order.

Some Common Questions

1. Am I limited to 25 schools? No, we are suggesting that number because in most situations that probably is enough.

2. Is the EFC Tune UP™ just for High School Seniors? No.

Current college families (except seniors) can benefit by determining if they can lower their EFC score and compare their school reported financial aid award percentage need  met with their current award for appeal consideration.

High School Freshman, Sophomore and Junior families will benefit by learning how the EFC process works inside the financial aid system.. Here are the benefits;

  • When considering family financial choices during high school you can evaluate how each choice affects your EFC calculation helping you avoid costly mistakes.
  • As you consider school for your admission list you can evaluate the family affordability issue and compare net costs for each school.
  • You can use student positioning and school admission criteria to qualify for more financial merit/scholarship aid and reduce the school’s net cost.
  • When you receive school financial aid award packages you will know if they are fair based upon the school’s historical “need-met” practices. You will be in a much better position to compare school offers and to file an appeal/s for more financial assistance.

3. How long do I have  to request the Financial Aid Eligibility reports for the selected colleges? There is no time limit we just ask that you are reasonable in making relevant requests that are applicable to your situation.

4. What does funding gap mean? It is the anticipated difference between the cost of attendance and the projected financial aid award, another name would  be  “out-of-pocket costs”. This provides a meaningful way to compare college affordability in the selection process. Of course the final decision rests with the actual awards provided by the various schools in your application pool.

Parent’s Achieve  Financial Clarity™

Manage you EFC process; see if you can lower your EFC number today and strategies for the future.

Make future family financial decisions with an understanding how they affect your EFC calculation and your financial aid.

Measure college affordability with financial aid modeling, compare possible financial aid awards between schools to determine which are more affordability…an very important step in college selection.

Start Now so You can Learn How the Financial Aid Systems Works?

Questions please contact;

Jim Kuhner
Email: [email protected]
or Call Direct (817-600-0576).