The New York Times recently ran an article by Steve Cohen highlighting A Quick Way to Cut College Costs, in which A-List’s own Scott Farber was quoted. The article discusses the rising cost of colleges and how reasonable the calculation of a student’s “expected family contribution” (E.F.C.) really is. With the rate at which college tuition has risen over the years, the article speaks to the fact that it makes sense for Congress, who controls the E.F.C. formula, to cut the E.F.C. significantly if they are serious about controlling college costs and student debt.
“The E.F.C. gives colleges ‘plausible deniability,’ ” said Scott Farber, president of A-List Education, a tutoring and education consulting company. “It allows them to say, ‘We didn’t set these family contribution figures; the government did.’ That artificially high E.F.C. is essentially creating an artificial price support for colleges.”