<p>So this year my parents' Adjusted Gross Income was 66563. My mom didn't work so this is all based off my dad's income. She was a student for the 2008 tax year. So I calculated my EFC (I'll be first in college, 4 dependents in family, paid about 4000 in taxes) and it came to $11109. Does this align with the typical EFC of a family with my income? I know everyone's case is different but I was wondering if this is at least in the range of normal for Fafsa. Thanks!</p>
<p>I'm sure someone else on herewith more FAFSA expertise will be able to help out further. But, in the meantime, I wanted to let you know that it seems like a EFC of 11109 would be extremely high, based on the AGI amount / family size provided. So, unless your own 2008 income was high (which is typically rare for a student) or your parents (or your own) assets were very high, then it sounds like you may have made a mistake when entering your FAFSA. You may want to double check your figures on the SAR report and submit a corrected FAFSA, if applicable, because with an EFC of this amount, you definitely will not qualify for any aid anywhere.</p>
<p>First of all and EFC 11,109 would most definitely qualify for aid and secondly I would double check your calculations because it does seem high for what you stated in your post.</p>
<p>I wouldn't say it is extremely high for the information you provided but perhaps a couple of thousand more than I would have expected unless. However if you also, which is likely, reported parent assets, Contributions to IRAs or 401ks, untaxed income, student income or assets that could account for the difference. The EFC is not just based on the parents AGI - it also includes any untaxed income (for instance current year IRA contributions are added back to the AGI as they are considered to have been available for college expenses), assets over the protected amounts, student income and assets (which cn have a big impact)</p>
<p>If I am reading this right (EFC just over 11 thousand), then I think that definitely sounds right. That is what we had last year with a similar income.</p>
<p>Depending on the cost of the school and the amount of need the college meets, you will be able to receive some sort of FA.</p>
<p>Is your mom attending college next year? If yes, then that amount might be a bit high or it might be the EFC for both of you combined...I am not sure how it works when a parent is in college.</p>
<p>Good luck</p>
<p>no my mom owns a nail salon so she is currently taking classes at a beauty school to further her business i suppose. the only thing i believe could've led to my EFC being so high is the amount of money my parents have saved in bank accounts- 30k approx. We didnt have any untaxed income and I didn't make a significant amount of money this year, only 1418.</p>
<p>I think you found your answer. The savings and your mom's business would account for your EFC.</p>