Reply to Our EFC is 500,000????

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Reply to "Our EFC is 500,000???? "

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You have assets, therefore, money to pay for school you are just choosing not to spend that asset/money on college. That is a choice. [/quote]

It’s a wise choice. A college degree doesn’t need to be expensive to be good.[/quote]

Yes but the underlying thread in all of these OMG MY EFC IS X. Is that they should get some type of aid for schools that they could literally cash flow from their income OR by selling a rental property. But they don't. They want aid. AID  :shock:  :lol: [/quote]

Not necessarily. I don’t think the FAFSA takes into consideration the number of siblings, whether there are special needs or medical issues in the family, etc. [/quote]

This is the first year where that is the case.  Up until last year, number of kids in school did change the calculation.  Extreme medical expenses, would show up in tax deductions, and in that way maybe change the FAFSA.

But the real takeaway for OP should simply be no one is happy with this calculation.  It in no way says the family can pay this amount, or should pay this amount, only that compared to other families this is where it shakes out.  There is very little federal funding directed toward higher education, and to the extent there ever was it wasn't tied to inflation.  OP's number may be ridiculous, but doubtless OP can afford to send multiple kids to the college of their choice without aid, and really it's only when the EFC maxes out that it makes sense.

And the other PP is correct, nothing says even a state school [i]will[/i] match EFC, that's the case for my DC this year.[/quote]

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