More than one child in college!

Many parents and students ask the question, "What if there is more than one child in college from the same household?" That does have a significant impact on the Expected Family Contribution. Remember the EFC is derived from income information from the parent, income information from the student, asset information from the parent and asset information from the student as well as other demographic information. According to the EFC formula, the student's contribution will be calculated, then the parents' contribution will be calculated. Once the parents' contribution is calculated, the result is divided by the number of students in the household. This figure is then added to the student's contribution to come up to the total of the Expected Family Contribution. So the more students in college at one time the smaller the parent contribution will be for each individual student. The total family contribution will however be influenced by the student's earnings and assets as well.