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The Expected Family Contribution (EFC) is a measure of your family's financial strength and is calculated according to a formula established by law. Your family's taxed and untaxed income, assets, and benefits (such as unemployment or Social Security) are all considered in the formula.
Yes, the two fractions are equivalent because you can find a greatest common factor in both the numbers. In this case, the GCF is 4 because it goes into both 4 and 8. Then, you divide each part of the fraction by 4. Then, you get the answer 1/2. Therefore, the fractions are equivalent.
