<p>I'm new here and just figured out what it means, so bear with me.</p>
<p>I entered our info into the calculator for EFC and our expected contribution is high...is the number given for one child or for all children in college?</p>
<p>For 2 years we will have 2 kids in college with tuitions totaling nearly 100K a year.</p>
<p>Thanks.</p>
<p>The calculations for EFC should be done for each child so that is essentially per person. I would go ahead and post further EFC questions in the financial aid forum. [Financial</a> Aid & Scholarships - College Confidential](<a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/]Financial”>Financial Aid and Scholarships - College Confidential Forums)</p>
<p>Each child will have his/her own FAFSA EFC.</p>
<p>So, you’ll run FAFSA for each child, putting in your income/assets, putting in that child’s income/assets. You’ll indicate that you have 2 in college.</p>
<p>Right now, you have 1 in college, so you’ll indicate that you have 1 in college. Therefore, your EFC will be higher. But, when you have 2 in college, the FAFSA EFC will change for each child. </p>
<p>So, if neither child has significant assets/income, then your FAFSA EFC will “about” split in half.</p>
<p>So, if your EFC is $50k with one kid in college, then when you have 2 kids in college, each child will have an EFC of about $25k (assuming the kids have little assets/income)</p>
<p>**
BUT…if your kids are going to to expensive schools**, then those schools may require CSS PROFILE and they may determine that your family should contribute more money because CSS looks at other things…like home equity and such. Also, CSS doesn’t seem to split family contribution in nearly half…maybe it’s because it expects families to pay more when more are in college or it figures that home expenses decrease when kids are off to college.</p>
<p>Also, remember, that most schools do NOT meet need. And, many put big loans or gaps in aid packages. So, don’t assume that a lowish EFC means that is all you’ll have to pay. EFC is the minimum unless your kids go to schools that will award them huge merit that covers need and cuts into EFC.</p>
<p>What schools are your kids considering?.</p>
<p>I already have one at Champlain College and my younger child will be going in the fall to either Providence College or UVM.</p>
<p>The EFC came to 73K…does that mean we’re expected to contribute 36,500 for each child, or that were expected to contribute 73K in total for both tuitions?</p>
<p>We have huge equity in our home, so it’s not looking like were going to get much, right?</p>
<p>I just wanted to add that we expected and have saved to pay for our childrens’ educations in total, but someone suggested to me that I should at least investigate whether we’re eligible for any FA.</p>
<p>We never even applied for our first child who is in his second year of college.</p>
<p>Is it possible to move this to the correct forum?</p>
<p>As I said, I’m new here and didn’t even know about the FA forum.</p>
<p>Thanks!</p>
<p>Don’t worry about moving the thread. If a mod wants to move it, he/she will.</p>
<p>I’m guessing that the high EFC is based on income and assets. But, when you do the second child’s FAFSA, will you have to include the college fund for that child in the calculations? if so, then your EFC may not go down in half, since you’d be adding new assets to that FAFSA.</p>
<p>Also…if the schools also use CSS Profile, they may consider your equity, too. And/or if the schools don’t meet need (or only do so with big loans) then you won’t gain anything.</p>
<p>You could try and apply for aid, but if you have a high income, assets, college funds, high equity (for CSS schools that care), then it may all be for naught. </p>
<p>Remember, EFC is not the minimum you have to pay. For instance, there is a parent who posted today whose EFC is around $4800 (not high). Yet, DePaul is expecting the parents to pay/borrow about $24k per year, in addition to having the child borrow about $5500 per year. So, in that case, EFC was rather meaningless.</p>
<p>I don’t know if any of those schools meet need. UVM is an out of state public for you, so they won’t help you with their high OOS costs. However, if they give merit scholarships, that may help.</p>