<p>^ Yes, it’s for FAFSA. </p>
<p>As each school uses a different formula, we have no idea how schools will use savings in their calculations.</p>
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<p>No, but I could pay $30K ($50K EFC * 60%) Note: kid #1s tuition is about $30 a year. </p>
<p>Let me ask another question. What has been the experience of need-based aid being reduced once an older sibling has graduated? If my EFC is $50K and kid #2 gets $20K in need-based aid, then do colleges really stop giving the full $20K once kid #1 graduates? Has something like this happen to anyone?</p>
<p>I have not experienced this personally, but know it has happened to many, many families when they no longer have two in college. I think you have to count on it.</p>
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<p>Why would they not? You likely, by their calculations, no longer have that $20k in need.</p>
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<p>Logically it would make sense. Just would like to hear anecdotal evidence of this actually happening.</p>
<p>there have been many people who’ve posted that their younger child’s costs doubled when the older one graduated.</p>
<p>Think about it…schools WANT to be able to direct funds to incoming frosh, so if they can honestly take money away from upperclassmen that now have little/no need, they will.</p>