<p>I just got accepted Duke Early Decision!!!! However I was a little surprised at the financial aid. My parents gross adjusted income is 58k and we have normal assets for this income range. However, my EFC for Duke was 40k a year and I was totally caught off guard. Do you know any reason for this or could there be a possible mistake?</p>
<p>Do your parents have a lot of assets?</p>
<p>Are your parents self-employed? own their own business? Have a career where either one takes deductions?</p>
<p>Or…is it possible that you put down the parent income into the “student income area”?</p>
<p>no they don’t own a lot of assets. My dad is self employed but he is the only worker and hires someone part time to help him. And i dont believe that I put my parents income in the student income area…we just did the net price calculator online and the estimated aid was 51k not 22k like it is now</p>
<p>My dad is self employed but he is the only worker and hires someone part time to help him. And i dont believe that I put my parents income in the student income area…we just did the net price calculator online and the estimated aid was 51k not 22k like it is now</p>
<p>The above is likely the problem. The NPC’s do not work well for those who are self-employed. It’s very likely that your dad’s business brings in a LOT more money and then he takes a LOT of deductions to get his AGI down to $58k. So, Duke “added back in” a number of your dad’s deductions. You dad may deduct car, phone, maybe a portion of your home, or some other expenses that Duke has added back in as income. Your dad may contribute a large amount each year to a retirement acct. I’ve heard that schools sometimes add back in the “employer portion” of FICA.</p>
<p>Also…your dad’s business has a value. That may also be a consideration.</p>
<p>With a “CSS EFC” of $40k, it looks like Duke thinks your family’s real income is about $120k+.</p>
<p>Contact Duke and ask for an explanation. They either made a big mistake or they’re not accepting some of your dad’s business deductions.</p>