<p>Ok I just ran my parents stats thru cornell's fa calculator and got an efc of like $20k. My parents have $100k income $400k assets. Does this calculator give an accurate estimate of efc?</p>
<p>Mine was pretty close, but I actually ended up receiving more in FA due to being selected for a fellowship. </p>
<p>Ok but my fa is absurd. I ran it thru Northwestern my efc came our to be 42k. I double checked the data when I entered in Cornell. Is Cornell just very generous or is this some ■■■■■ program?</p>
<p>The financial aid calculator is generally very accurate. I was shocked at home much it gave me and they gave me a little more than what the calculator estimated. Unless you have unusual circumstances, I’d say it’s pretty accurate.</p>
<p>They definitely give out pretty good financial aid. I’ll be going for ~3k a year, whereas my second choice school (pretty much identical face-value tuition and room/board) would have cost me ~16k/yr. </p>
<p>OK going to cornell would be cheaper than going to my state school O.o</p>
<p>It wasn’t accurate for me. My parents make about $150K before taxes and our assets are assessed to be much more valuable than they actually are. We will have to pay $53K a year, which frankly is completely ridiculous and we can’t afford it at all, but we’re making it work. </p>
<p>Ranza123, you said you’re making it work. How are you doing that if you don’t mind me asking. I just wants some tips on how to pay for college.</p>
<p>@kaywhy honestly, my parents are taking care of it. I’m lucky that they care enough about my education to do whatever it takes. I’m not exactly sure what they’re going to have to end up doing. Definitely start budgeting more and living off less. Possibly take out another mortgage. I am going to do a work-study job on campus, although that will only cover $2,000, which I thought was a lot before but really is only a small drop in the $53K bucket. I wish I had better tips to pay for college, but honestly, I need tips too! We’re just winging it.</p>
<p>If your parents are married (to one another) and not self-employed, the calculator is reasonably accurate. Unusual financial circumstances can mess it up. If you get a financial aid offer that doesn’t match their calculator, you can ask them why. They sometimes make assumptions without telling you, that you can refute if you know about them.</p>
<p>Seconding @Ranza123’s situation</p>