Frequency Asked Questions

College Cost Analyzer Software

What is the price of the EFC PLUS College Cost Analyzer and the subscription length?

EFC PLUS College Cost Analyzer software is $59.95 for an annual subscription.

How do I get started using College Cost Analyzer?

EFC PLUS software system is easy to use.  Click the link here and purchase it online.  You will get an email confirming your purchase.  With that email you will get a link to register the software using the email address used to purchase the software.  Sometime the email may be sorted to your SPAM or Promotion email folder depending on your email security settings.

Who do I contact if I have a problem with the system?

If you have any questions or problems simply go to support@EFCPLUS.com and type in your question.  Your will receive an email response within 24 hours.

How does EFC PLUS save time and money?

The college funding and financial aid process is very complicated.  EFC PLUS is organized to simplify this process by putting all of the financial information in one place for families.  You no longer need to go to multiple school websites and re-key in all of the same information.  In addition, comparisons are done automatically in a standard format.  This is especially helpful during the college list building process.

The biggest advantage is the EFC PLUS four-year analysis.  Colleges only provide financial information on a one-year basis.  By having this custom projection, families can better identify the best value.  Currently, colleges do not provide this information to families.  This transition to an outcome focus helps students avoid a life of student loan repayment from the beginning.

What webinars are found on EFC PLUS website?

There are webinars that are included with the EFC PLUS and are held throughout the year. Go to the webinar page to get a list of the webinars and speakers.  After you purchase EFC PLUS College Cost Analyzer or In-College Payer you will have access to register for member only webinars located on the sign in page. 

Is there any training with EFC PLUS?

The EFC PLUS software has a help video on each screen.  This information improves the user experience and makes it user friendly.  A person can also go to EFCPLUS.com where there are helpful videos about the entire college funding process

What do I do if my college or institution is not listed on the college search?

There is a help desk associated with the EFC PLUS program.  Please go to support@EFCPLUS.com and enter the college or university that is missing.  We will try and add the school to our list but not all colleges provide the data needed for our system to complete the analysis. 

What is a net price calculator?

A net price calculator is a required calculator on each college’s or university website.  It generates projected one-year cost at each college.  It allows prospective students and parents to enter their financial information and some academic information to get their results.  The quality of these calculators will vary greatly by college.  You will also need to re-enter your information on each site.  The advantage of EFC PLUS is you enter your information once and compare the cost of each school in one place.  This will save you time and money since we also provide a four-year view versus a one-year projection.

What makes EFC PLUS system different from a college net price calculator?

The net price calculators provided by the colleges offer estimates only on one-year projections of net cost.  EFC PLUS system offers families a four-year estimated cost projection with the ability to compare colleges and to track the final selected colleges side by side.  This is especially helpful if you will have multiple children in college at the same time. The College Cost Analyzer also regenerates our unique projections once the award letter is received.

Can you compare the net cost of various colleges at the same time using EFC PLUS?

EFC PLUS lets families compare up to 20 schools at one time.  Schools can be added and deleted as schools are viewed and budgets change.  The award letter comparison sorts the colleges by the most cost effective colleges.

I am not sure how much money I can contribute to my child's education. If my family's finances change will I be able to change this amount in the EFC PLUS System?

One of the major advantages of EFC PLUS College Cost Analyzer software is customization of the calculations.   Our system allows parents to enter a starting college fund, if it exists, and an annual amount they can contribute.  Our methodology then generates how these funds will be utilized based on the school’s historical financial aid packaging.  With this information, the system is better able to project the financial outcome of each college based on your financial situation.

How accurate are the EFC PLUS financial calculations?

EFC PLUS generates its financial aid estimates based on data obtained from the College websites, federal government websites, clients past award letters, and Wintergreen Orchard, a college data company.  The award tool has the client input their actual award letter.  You need to remember these are projections.  This process is very subjective and can change year to year.

Do you include merit aid in your EFC PLUS calculation?

Cost Analyzer is unable to estimate merit awards during the list building stage due to how this is a very subjective process.   The Senior Award Tool does allow families to input the actual award amount and then recalculates the four-year net cost based on the actual award. 

Is my data safe in EFC PLUS?

College Affordability, the owner of EFC PLUS, does not sell (or share) any personal financial information.  We believe your information is your information.  We do not require the input of any personal identifying information within the system such as: last names, full birthdates, social security or full address into the system.  For calculation reasons we do collect month and year of birth, zip code and state residence, grades of the children and your email.

I do not want my child to see my financial information. How can I keep this private but at the same time discuss the results? What screens provide limited financial information?

A major goal of our company and the system is to provide parents and students a vehicle to discuss the financial commitment of a college education.  Since EFC PLUS calculates a four-year estimation of cost by college, families are able to see the financial outcome of each college.  We have structured the system where the personal financial information of the parents does not need to be seen by the student.  We are hoping the system will allow parents to engage their children in a more meaningful discussion.

Frequency Asked Questions

In-College Payer Software

 

What is the price of EFC PLUS In-College Payer and the subscription length?

EFC PLUS In-College Payer software is $59.95 for an annual subscription.

How do I get started using EFC PLUS In-College software?

EFC PLUS software system is easy to use.  Click the link here and purchase it on line.  You will get an email confirming your purchase.  With that email you will get a link to register the software using the email address used to purchase the software.  Sometime the email may be sorted to your SPAM or Promotion email folder depending on your email security settings.

Who do I contact if I have a problem with the system?

If you have any questions or problems simply go to support@EFCPLUS.com and type in your question.  Your will receive an email response within 24 hours.

How does EFC PLUS In-Payer software help to keep my loans organized?

The system has an easy import function to gather your federal loan through the National Student Loan Data System (NSLDS).  You private or Parent PLUS loan will need to be entered manually.  Our unique calculator then uses the federal loan limits, college’s historical gifting policy and your cash flow to project the debt at graduation.

How are the other alternative loans inputted into the In-College Payer?

For non-federal loans, there is not a central place to gather that information.  Your initial input will require the user to input their non-student federal information.  Once it is in the system it can be updated periodically depending on your decisions.  The system will combine the incurred debt and the student’s target graduation date to generate a projected debt structure.  This enables the family to see a financial outcome.

Is there any training with EFC PLUS?

There are help videos on each screen throughout the EFC PLUS In College Payer software.  In addition there are timely webinars that help in the decision process.  On the EFCplus.com website is a video library that helps with specific financial aid and student loan questions.

What webinars are included with EFC PLUS?

There are webinars that are included with the EFC PLUS Payer. Click here to get a list of the webinars and speakers.  After you purchase EFC PLUS you will have access to register for webinars located on the sign in page. 

How do I understand more about the 9 repayment methods?

EFC PLUS has descriptions on each of the screens of the In-College Payer, timely webinars, videos and in our video library.  The EFC PLUS blog is a great resource to keep you up to date on possible changes and recent developments.  The Department of Education has specific information about student loan repayment and is a great source for more information.

Will the college net price calculator help me?

A net price calculator is a tool for new and for entering freshman.  The EFC PLUS In College Payer is software that creates a customized outcome based on the student’s academic position.  It is designed to help students and families during the various financial college decisions while in college.  Our focus on the outcome helps families make better and informed decisions.  By having this information, the student can avoid a life of excessive student loan repayment.

How accurate are EFC PLUS financial calculations?

EFC PLUS generates its financial aid estimates based on data obtained from the college’s website, the federal government and our own college data analytics.  The college financial award process is very subjective and is the reason why college’s often do not give four year projections.  The EFC PLUS In College Payer uses the best information possible to project the student’s outcome.  It is a plan and estimate that may change based on many factors.

Is my data safe in EFC PLUS?

College Affordability, the owner of EFC PLUS, does not sell (or share) any personal financial information.  The system does not collect any specific personal identification information such as your full names, full birth dates, social security or full address into the system.  For calculation reasons we do collect month and year of birth, zip code and state residence, grades of the children and your email.

How do I pick which repayment method to choose?

The system will generate all of the federal loan repayment options based on the loan structure.  We display all of the options in easy to understand list so you can see your options.  The added feature of our personal financial analysis helps you find the best option that fits your budget.  The first priority is to stay current on your loan repayments and avoid default.  By easily seeing your options and how it will affect you day to day expenses, you can make a better decision. The best option is not always the lowest payment and is the reason borrowers need to understand the criteria of all the repayment plans.

Is the lowest payment always the best choice?

Staying current on your student loans is the first priority.  The penalties and fees for defaulting are severe.  Due to the various loan repayment options, selecting the best option can be confusing and at time overwhelming.  The EFC PLUS In College Payer helps you through this difficult process.  Most people do not realize that the lowest repayment options may not be fully paying the interest cost of their loans.  This is called negative amortization.  In this situation, the loan balance will be increasing even though you are making monthly payments.  Many students are unaware of this situation since they select the lowest payment and do not realize the long term financial consequence of that decision.

How do I know my future salary if I am a freshmen and do not have a major yet?

The EFC PLUS In College Payer helps student plan for the future.  It is no different than the high school sophomore student planning for college.  They do not know what college they will be attending but need to take steps to maximize their opportunities for the future.  By inputting a projected salary and understanding your debt at graduation, the student will make better decisions while in college.  

Can I change the salary in the Personal Cash and Income Analysis if I am between two major choices and want to see the different options?

The system is extremely flexible.  You are able to change projected income, cash flow and graduation dates.  The primary focus of the system is to help students create a projection of financial future at graduation.