<p>My parents just finished their tax return so i fixed all of the estimates on the fafsa form. Apparently their income grew by about 70k this past year because my dad was trying to save for college. All of the numbers are now totally different and my efc that was once 20k is now 47k. With acceptance letters coming, will I receive financial aid packages? I submitted the fafsa online but will these packages be corrected for my new efc? Will colleges neglect to give you one, citing more time to process? If so, will any merit scholarships not be shown in the acceptance letter? Sorry I have a lot of questions I know. I just want to be able to compare before may 1.</p>
<p>Your merit should stay the same.
They will pull up the new FASFA…Your award may change…as far as federal aid.</p>
<p>Yes your need based aid will reflect your corrected FAFSA. If any preliminary need based aid awards were calculated based on your initial estimated EFC they will be adjusted to reflect the new higher EFC.</p>
<p>Also, merit awards may not come in the same letter/envelope as your acceptances. At some schools they come a bit later, but certainly in time so that you can have all the information you need to make a decision by May 1.</p>