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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm seeing conflicting info as to whether: (1) equity in primary home, and (2) retirement savings such as IRAs and 401Ks raise your EFC.

Does anyone know the answer?? And whether the # of kids in a family is considered?

[/quote]

I know the answers.  It depends.

1.  It's school by school.  Some do not consider equity in primary home at all, some cap it as a % of income so the families in rapidly gentrified neighborhoods do not get dinged, some count it all.  You have to ask each school or try to back it out with their net cost calculator.  FAFSA does not consider equity, but many private and some public schools request information in addition to FAFSA.
2.  Similar as 1, except more schools disregard retirement savings.  Again, FAFSA doesn't countit at all, but schools do ask about it, and some of them, if they see large sums in those accounts, assume you have more ability to pay since you don't need to save for retirement as much.  Your age might matter here too; if you are in mid-40s, you get dinged more for a large 401K than if you are in your mid-60s.  [/quote]

PP whose kids' applied to 20+ schools. This is another huge reason why you need to apply broadly as hell. This info isn't terribly clear fwiw in a lot of colleges' info.[/quote]

PP who provided the responses.  Colleges have an enormous interest in keeping this information obscure.   They do not disclose it for a reason.

Another thing most people do not realize is that besides FAFSA, there is no single formula, and many schools do not pay attention to FAFSA.  Your financial situation us assessed "holistically", meaning that when FA office thinks "income", it's not necessarily what is shown on your tax return, especially if you are self employed.   Some of your deductions, like a car lease, might be added in.  If you have a more straightforward situation - 2 parents married to each other, W2 income, 1 RE property that's your primary home, it's easier to predict what you'll pay.  But if there is a divorce or a business, all bets are off.[/quote]

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