<p>Does anyone know if there is a difference between and automatic zero EFC and just a zero efc. I file a 1040 and my calculated EFC is zero, howver I can file a 1040A if I dont itemize and it will cost me a little in tax but then I would get the automatic zero EFC (AGI under 31K). Does it make a difference wgen qualifying for grants and loans?</p>
<p>I think the only difference would be if your kids have assets/income.</p>
<p>I think with an auto 0, then your kids’ income/assets don’t count.</p>
<p>If your kids don’t have assets, and their incomes will be lowish , then I don’t see any benefit. Work-study income won’t hurt EFC at all.</p>
<p>I think a student can earn up to about $5700 (or so) without it interfering with your 0 EFC.</p>
<p>So, if that’s the case, then don’t pay more in taxes just to get an auto 0.</p>
<p>If you can answer yes to one of the other Auto 0 qualifying questions (dislocated worker or anyone in the family received benefits from a federal means-tested program like Free/Reduced School Lunches any time during the previous 2 years) you can file a 1040 and still qualify for Auto 0. But Mom2 is right, you may end up with a 0 EFC without it and it shouldn’t make a difference for grants, loans, etc.</p>
<p>A 0 EFC is a 0 EFC as far as financial aid is concerned. How the 0 is arrived at will not make a difference. </p>
<p>When it comes to calculating the EFC one of the major things, as mom2 mentioned, is that certain things are disregarded in the Auto 0 calculation. For instance untaxed income, assets, student assets and student income. These can make a difference even with a low income.</p>