Glossary of Terms
Discretionary Income
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.
Extenuating Circumstances
Family Report
Financial Need
Household Income
Household Size
Merit Aid
Need-Based Assistance
Need-Blind Admission
Nontaxable Income
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.
Taxable Income
Tuition-charging Schools
Unusual Expenses
If you have a question that was not answered here, please contact:
Emily Kienzle
[email protected] or (505) 828-3352