Virginia College Savings Plan

Financial Aid Calculator

What will colleges expect you and the student to contribute to college costs? This calculator estimates your Expected Family Contribution (EFC), which represents what colleges may expect your family to contribute to the cost of attendance (COA) for one year. The difference between the COA and your EFC is considered your "financial need" and the amount of aid you're eligible to receive.

Use the Calculator to gain insight into your potential financial aid eligibility and to consider how saving in the parent's name or using a savings vehicle that is treated as a parental asset, such as a 529 plan, may be advantageous in the financial aid process.

Note: The EFC estimate in this analysis is based on a simulation of the Federal Methodology, the starting point for financial aid decisions at any college that offers Federal financial aid.



Household Information
State of Residence      
Number of Parents      
Family Size      
Age of Older Parent      
Family Members in College        the student in this analysis plus siblings in college at the same time
Age of This College Student      
 
Parent Information
Federal Income Tax Form      Form 1040     Form 1040A or EZ     Non-filer  
Adjusted Gross Income, according to your latest tax form      
Total Federal Income Tax      
Income from Work  - Parent 1      
Income from Work  - Parent 2      
Untaxed Income and Benefits      
Other Adjustments      
Net Value of Business      
Cash and Investments        including 529 plan assets
 
Student Information
First Name      
Federal Income Tax Form      Form 1040     Form 1040A or EZ     Non-filer  
Adjusted Gross Income      
Total Federal Income Tax      
Income From Work      
Untaxed Income and Benefits      
Other Adjustments      
Cash and Investments      

College Cost
Public 2-year school Public 4-year school, in-state
Public 4-year school, out-of-state Private 4-year school, average
Private 4-year school, expensive