Hi Folks,
We’re in the midst of completing the FAFSA & CSS Profile forms for financial aid.
The CSS has the question:
“Enter the amount your parents think they will be able to pay for your 2017-18 college expenses”
We lost our sole job in 2015, and there was a severance payout that occurred in 2015.
Our income in 2016 looks like it will be less than $15K.
If we plug in the 2015 income into the online EFC calculator at finaid.com, it yields an Expected Family Contribution of $56,000. If we plug in the 2016 income, the calculator shows $9,000.
And of course they chose this year to switch to using the older tax return!
Any advice on how to answer the question??
Thanks