ROUGHLY, can someone explain what percentage of parental income and assets are expected to go toward EFC?
This is really not possible…without more info from you.
But YOU can use the Net Price Calculators on the college websites.
Are you divorced? Self employed? Own a business? Have real estate in addition to your primary residence? Are you an international student? If NO to all of these, the net price calculators should give you a decent estimate.
Plus…unless I’m reading your precious threads incorrectly, you already have one kid in college. What was that kid’s EFC?
Not asking for myself.
Assets, over the protected amount (not including anything in qualified retirement accounts or value of the primary residence) are assessed at 5.6%. For the income portion, it really depends, but don’t blanche if it’s around 1/3 of AGI (NOT 1/3 of taxable income).
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