<p>I received my SAR today with an EFC of $46,500. I poked around on some other threads on CC, and that seems about right for our family income. However, over the past year, I've put our financials into the net cost calculators for several colleges: all "highly selective", need-blind, meet 100% of need. The figure I consistently get back [and a figure that's backed by other anecdotal evidence I've come across while doing research] is an EFC of about $35,000 for these colleges. So, my question: Could this be right? Is it possible that some of these private colleges, using the Insitutional Methodology, could determine that our EFC is actually LESS than the the figure determined by the federal government?</p>
<p>Yes.</p>
<p>Institutional formulas can be very different from the FAFSA formula.</p>
<p>I guess it could somehow go that way. In my case, FAFSA said low/mid 30s (don’t recall exact figure, was a few years ago) and the pricey privates all said ‘no aid except parent plus and student loans for your kid’. These were schools with COA of 50k and up. </p>
<p>Maybe it was b/c I own an (extremely extremely small) business. Maybe because we saved some money in student’s name. We have no huge assets. There are so many variables!</p>
<p>So I always tell people to hedge their bets and be sure to have your kiddo apply to a couple schools that they are likely to get in, where you can make work it financially, without taking huge loans. Good luck!</p>
<p>It’s possible. Some schools have extremely generous need based aid policies. For example, I believe Stanford charges 10% for those with incomes $100,000 (could be more than that…) or less. Your need based award from a school with deep pockets like this one would be MUCH more generous than if it were calculated based on the FAFSA EFC.</p>
<p>Yes BlindLuck. We were fortunate that D got accepted to one of those wonderful schools.</p>
<p>Remember that the calculations from the new price calaculator is onlg going to be good as the information that you put into it. The SAR only looks at your eligiblity for federal aid based on what you put into the FAFSA (federal methodology). At profile schools, this number can change.</p>
<p>Do you/your parents contribute money to a 401k or 403B? while you may not have included these numbers in your net price calculator, the contibution that you made during the year is added back on the FAFSA?</p>
<p>Do you/your parents own a business? Like paperplane wrote, deductions that you may be able to write off on your taxes are added back in on the FAFSA. </p>
<p>Are your parents separated/divorced? Are their child support payments/ While the receiver does not have to add it as income on the taxes, it is income on the FAFSA?</p>
<p>Is there savings in the child’s name? this will be assessed at a higher rate than parent assets?</p>