Income, assets, family size, and the number of children enrolled at least half-time in college are all considered when calculating the amount your family can contribute. Cornell also uses cost of living protections based on the zip code reported on the CSS Profile.
If parents are separated or not married, Cornell reviews each one’s financial information. Usually, each parent is expected to contribute, and that expectation continues throughout your undergraduate years.
Information from the CSS Profile and Tax Return is used to calculate the institutional Expected Family Contribution. In general, taken into consideration to calculate an EFC are:
- Total Income
- Investment value
- Home equity
- Number of students enrolled at least half-time in college
- Number of family members in the household
- How many students are in college at the same time