So, if a family has a 529 account with $10,000, this raises the expected family contribution by at most $564 and reduces the federal aid package by the same amount.

No income limits for FAFSA in 2023; aid amount may vary with family income. FAFSA considers cost of attendance and Expected Family Contribution. Special considerations include military service ...

Expected Family Contribution (EFC) has long been the standard measure used to determine a student's eligibility for financial aid, but starting with the 2024-25 academic year, it is being replaced ...

So, if a family has a 529 account with $10,000, this raises the expected family contribution by at most $564 and reduces the federal aid package by the same amount.

So, if a family has a 529 account with $10,000, this raises the expected family contribution by at most $564 and reduces the federal aid package by the same amount.

Expected Family Contribution Is Calculated Based on Household Wealth. The expected family contribution is calculated using an opaque formula that accounts for a family’s combined income and assets.

So, if a family has a 529 account with $10,000, this raises the expected family contribution by at most $564 and reduces the federal aid package by the same amount. Advertisement.