<p>I filled out the FAFSA for this year (based on 2010 information) and received a very low EFC (pell grant qualifying), but I'm worried that I'll get less financial aid from the schools that require the CSS Profile because it makes my family look wealthier than we actually are. My parents own a business that requires a lot of expenses, so our income from Schedule C is $150k+ while our expenses are so high that our AGI is around $35k.</p>
<p>Yes, The Profile does add back many business deductions. Hopefully you applied to some FAFSA only schools. A Profile school may view your parents business as something that can be borrowed against.</p>
<p>ca…you probably will have similar “issues” with some of your FAFSA schools. Very often the expenses that are allowed for tax purposes are added back in as income for financial aid purposes. </p>
<p>Erin’s mom points out one issue…but another is that some of the expenses can be for things that other families simply have…things like cars, a room in the house for an office, part of the utility bills, etc.</p>
<p>At this point, I hope you have cast a broad net in terms of schools, their costs, and your potential for merit aid as well. Just wait and see how it all works out. There really isn’t anything else you can do. Your finances can’t be changed…it is what it is.</p>