My families household income increased this year and yet my EFC went down? I triple checked my FAFSA and everything was entered correctly. What could be the reason for this?
Higher taxes paid.
How about your income, your asset, and your family asset? Also, do you have a sibling going to college this year?
How many dependents did you list?
I have a sibling in school this year as well. As far as I can tell, there have been no major shifts in assets. My family finished paying their mortgage. Maybe that counts for something? As for dependents I’m guessing two. I don’t have my parents tax docs on hand.
" Maybe that counts for something?"
yes.
If you were the ONLY one in college last year, and this year there are 2 from your family going to college, then yeah, that’s why yours went down.
Its called Estimated FAMILY contribution, which means that it is all your FAMILY is expected to pay for college expenses, FOR YOU, this year.
When you graduate, and your sibling is still in college, HER EFC will go UP.
^^
I think the sibling in college is older, and Calicash’s EFC will increase once her sister leaves college.
I suspect that maybe there’s an increase in household number.
@mom2collegekids is correct. My sibling is ahead of me in college. So this is the second year that we are filling out a FAFSA with two kids in college. @menloparkmom
If you know your FAFSA login you can pull SARs for 2015-16 and 2016-17 and compare them line by line.
If you asking about Profile EFC then you need access to saved 2015-16 copy of Profile to compare.