<p>pretentiously,</p>
<p>What you have to realize that your parents are first in line when it comes t paying for your education. The 29k bonus that your father received at the end of the year is income. Even after taxes, there is an expectation that some of the monies be used to pay for your education. Your EFC will be based on your parents income and assets and what the school beleives that they can afford to pay. It will not be based on whether or not they are willing to pay for your education or whether or not it is worth more to them to channel their monies into other things.</p>
<p>I read where you wrote that you had a number of issues going on:</p>
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<p>the school will take into consideration exhorboriant medical expenses not covered by insurance. You must send in the documentation; the bill along the statements from the insurance company as far as what was covered by insurance and proof that your parents paid the unreimbursed portion. Keep in mind that your EFC will not be decreased dollar for dollar.</p>
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<p>the don’t care about your neignbor’s house. again submit the documentation of what you sent to the insurance company, what was paid, what amount was left and proof that your parents paid it. Again this is not going to reduce your EFC $ for $</p>
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<p>This is a life choice that your parents are making. it is one thing if they are paying off their parent PLUS loans for your brother’s undergrad and are asking that this be taking in to consideration. However, as far as med school is concerned, for all intents and purposes, your brother is now considered an independent student who is now eligible to borrow up to the full cost of his med school - any financial aid given to cover his med school expenses. If your parents have made a conscious decision to pay for his med school at the expense of not paying for your undergrad education, a school is not going to give you their institutional funds to make up the difference.</p>
<p>The problem with yoru scenario of being 200k in debt is that no one is going to loan you 200k. The most that you will be able to borrow this year is $5500 in stafford loans (if it is not already part of your financial aid plan. If your parents are credit worthy enough, they can borrow the balance as a plus loan. However, it sounds like they have given so much to everyone else, that they may not be in a position to do this.</p>
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<p>Where is this money? Is it in a 401k/403b or retirement account or is it simply sitting in the bank and they are planning to use it for retirement? If it is simply sitting in the bank, the school considers it an asset and will assess it as such. While monies in the 401k/403b account are protected, any contributions your family makes are added back as income that the school believes can be used to pay for your education.</p>
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<p>Again, this is another life choice that they have made rather than using the money to pay for your education. You will not get increased financial aid because of it.</p>