<p>Did you guys import your data from your taxes when you first did your taxes? Or did you just plunk in the numbers by hand? I know that our EFC went up several thousand dollars when we did the transfer because it added back in 401K contributions. Perhaps something like that happened. I’m not an expert but your new EFC does seem more in line with your income level. I can understand how that can still feel overwhelming when you were working with different numbers.</p>
<p>So, what is your plan? </p>
<p>The EFC is higher than it should be, even if it’s not zero. Mine was $7k with a $69k income and a household of 5. Hers/his should be around $5k, unless there’s some high assets (isn’t there like a $60k-value ceiling before they have to be reported?). Something’s off.</p>
<p>^^^ I believe the asset threshold for reporting is much lower than $60k. It is reasonable to get that EFC with moderate amount of saving in bank and 529 at that income level.</p>
<p>we dont know what all was adjusted. One or two of the household members may have been grands or adult/working children, and they may have been removed. We dont know if they have assets…protection for couples is around 45k</p>
<p>Likely there is a 401k addition or something like that. I dont think efc was ever zero.</p>
<p>also, we dont know if there are two parents in the home. if only one parent, the asset protection is low (about 15k). Also if there is only one parent, then EFC is higher for the same income.</p>
<p>also, is there ONE income earner or TWO…that makes a difference.</p>
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@mom2collegekids Would you elaborate a little bit on this? I have asked this question here last year and I was told they only care about the total household income.</p>
<p>It makes a difference. There is a benefit in the calculation when the income comes from two people.</p>
<p>I’m wondering if the student put that she was “in guardianship”. That is one of the most common mistakes on made on the FAFSA. </p>
<p>One income earner in my house. So by comparison, it can’t be that…</p>