Do I qualify for the simplified needs test?

Paying for College
1

My family filed for a 1040A last year with a 27,000 income. Does this mean I have an automatic EFC of 0?

2

Yes you should qualify for the simplified needs formula but no that doesn’t mean an auto 0 EFC. The simplified needs formula means your and your family’s assets aren’t counted toward your EFC. To qualify for the auto 0 your parents AGI would need to be under $24k.

See pages 4-6 here:

http://ifap.ed.gov/efcformulaguide/attachments/090214EFCFormulaGuide1516.pdf

3

You don’t qualify for auto $0, but your EFC is going to be a low one.