<p>I tried all the estimators online and every one gave me an EFC of 0. I just filed my official FAFSA and my EFC was 8100.....???</p>
<p>My parents adjusted gross income was 22,000. I don't understand why my EFC was so high.....</p>
<p>any help?</p>
<p>Second homes, investments, college savings will inflate your EFC. The EFC estimators are never truly accurate.</p>
<p>I assumed you filed as a dependent student -- do you have assets and income in your name? </p>
<p>were your parents eligible to file a 1040A? and did you mark that box? (that eliminates any EFC from assets).</p>
<p>finally -- go to <a href="http://www.finaid.org/calculators/finaidestimate.phtml%5B/url%5D">http://www.finaid.org/calculators/finaidestimate.phtml</a> and put in the exact same numbers you put in for FAFSA -- it gives you a detailed output that shows where the EFC is coming from.</p>
<p>let me know what you find out!</p>
<p>I have no assets. My parents own no stock, and have absolutely nothing. I have nothing in my name nor my bank account. My parents have no business, no assets, no nothing, not even a retirement fund, etc.</p>
<p>Maybe it's because my dad is part of the clergy. His income is very low and his taxable income is incredibly low but our "allowances" (food, housing, etc) are pretty high, but still under 20k</p>
<p>It doesn't sound right -- when you get your SAR you should go over each entry line by line -- it sounds like you might have made a mistake somewhere - maybe entering the wrong information on a line somewhere. If you did, you will be able to correct it, so its no big deal.</p>
<p>Yea you should definitely make sure you haven't entered the information wrong. Since you say you don't have too many assets your EFC should not be that high; my parents gross adjusted income is approximately double of what you've reported but yet, my EFC is half of what you got, so it is highly probable that you made a data entry error.</p>
<p>Yea. No assets, no nothing, nothing in my name. To be honest, we pretty much live month to month. We have a couple thousand in our bank account, no more than 5k. I put 6k to make it safe.</p>
<p>The FinAid calculatore has matched our FAFSA EFC to the dollar the last two years, so long as the input matches the FAFSA input. It uses the same formula.</p>
<p>I'm guessing that you input something in the calculator that kicked in the simplified needs test, or automatic zero EFC, but answered a question slightly differently on the FAFSA app. Maybe whether you're eligible to file 1040 short form?</p>
<p>You said 22K AGI-- which is close to automatic zero EFC if you can file short form. That's my guess as to the difference.</p>
<p>BUT-- 22K AGI won't get you anywhere near an 8K EFC no matter whether you qualify for simplified needs or auto zero, or not. </p>
<p>You made an input error somewhere.</p>
<p>Go to FinAid, and input the numbers carefully. The output will tell you exactly where each component of the EFC came from. Find the error, and go back and correct the FAFSA online pronto.</p>
<p>22K AGI and no assets and your EFC should be zero.</p>
<p>redid my app. Found out where it was. Our family's "itemized deductions" (my dad is clergy) counts as part of usable income, so even though our AGI is 22000, our "usable income" counts as 65000!!!!</p>
<p>Hopefully the colleges realize that our AGI is still 22k....and that there is no way my parents can pay 8-10k for my education.</p>
<p>convergence -- I would be prepared to talk with a financial aid officer about "professional judgement". That is where the FA officer takes a look at special circumstances (along with proof of such -- so have it ready) and they can make a change in the EFC. </p>
<p>Interesting how they are using clergy compensation in figuring the EFC. I can see that it needs to be taken into account -- if the housing is provided, then your parents don't pay rent -- same for other things that are provided. That means that the AGI is not going towards those necessities, but still -- if they don't own the home, they can't take out a home equity loan.</p>
<p>I think you do need to be realistic -- with the basic necessities provided by your dad's church and $22,000 a year to spend on "non-necessities", you parents are going to be expected to use a good chunk of that on paying for college. You might get it lowered, but I would expect them to still expect 3-5K. If you combine the lowered EFC with work-study and stafford loans, you should be able to swing it.</p>
<p>Make sure you get busy contacting the FA officer about the professional judgement -- the earlier it is filed, the better your aid package.</p>
<p>Everybody's "itemized deductions" count as income for FAFSA purposes. </p>
<p>AGI less itemized deductions = taxable income. So when you say AGI above, you must mean taxable income. FAFSA works with AGI (65K in your case), not taxable income.</p>
<p>
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Hopefully the colleges realize that our AGI is still 22k....and that there is no way my parents can pay 8-10k for my education.
[/quote]
</p>
<p>Remember that you can work a bit also. I know that there is a limit to how much a student can work, before it is taken into consideration by FAFSA. But, let us say the amount is 3k. Would you be comfortable working at a job where your hours would be such that you would earn about 3k and then fork that over to your parents? </p>
<p>Would you be comfortable with maybe asking your parents to take out a small loan if they are able to? </p>
<p>Hmmm...I reckon there are more things, but I have a head cold and cannot think straight. </p>
<p>The only thing I know is that anything under a 10k efc is not super bad, dude. That is really all I know. </p>
<p>And, remember, you can always do a bit of time at a Community College. There is no shame in that. Or, you could work, bank a good 3k, and do self study for the CLEP tests. That would kinda like be a gap year of sorts. </p>
<p>Just do not give up hope. I aspire to go to Seminary, so your post made me sit up and think a bit.</p>
<p>sblake: my agi is still considered 22k I think. </p>
<p>We have a morgage and a home equity....the church gave us enough for a down payment so we do own a home...but that amount went into itemized deductions for this year. Last year the number was SIGNIFICANTLY less. We pay rent and everything.</p>
<p>Also, is it possible for me to still recieve money from the schools themselves? Can I call the financial aid officer of the school?</p>
<p>One exception to the FAFSA formula is the automatic zero. If parents AGI as reported on a federal tax return is under 20K and parents file a short form (1040A or 1040EZ), then a family's EFC will be automatically set to zero and all other info on FAFSA will be ignored (e.g schedule A, B or C).</p>
<p>Convergence, you use the term "itemized deductions." To itemize deductions like on a schedule C form, you parents would had to have filed a long form (1040). This would explain the allowances your dad received showing up on a FAFSA schedule; it would explain his use of itemized deductions; it would explain how he was able to get the AGI down to 22K; and it would explain your EFC. If your parents filed a long form, you wouldn't get the automatic zero and his "allowances" would be treated as income (unntaxable) by FAFSA.</p>