<p>Is there an average % about how much your EFC gets affected by another student starting college. One is in school and one is starting in a couple of years. Does the EFC go down 10%? 25%? Or any other number? Or is there just no way of knowing?</p>
<p>you can use the estimator from fafsa to c:culate any situation you want</p>
<p>If neither child has any significant savings/assets, then I think your “total” family contribution will remain about the same, but it will be about halved per child. Each child with have his/her own EFC… So, you’ll likely have 2 EFCs that add up to about the same as your current EFC (as long as your income/assets don’t change significantly).</p>
<p>For instance…if for one child in college, your child’s EFC may be $14,000. But, when you have two children in college, it may look like this…</p>
<p>Child #1 EFC = $7,000
Child #2 EFC = $7,000</p>
<p>That isn’t a perfect example…others may have a better one. I imagine that if you have a college savings acct for each kid, then the numbers would rise or be different because the second college savings acct would be available for that second child. Others can correct me if I’m off base (which I might be…LOL )</p>
<p>^
you are right on all accounts. The EFC’s will vary according to the differences in siblings financial status - the one with a bigger savings account will have a lower EFC than the other.</p>
<p>The EFC’s will vary according to the differences in siblings financial status - the one with a bigger savings account will have a lower EFC than the other.</p>
<p>Isn’t it the other way around? Wouldn’t the child with the bigger savings acct have a higher EFC than the other?</p>
<p>(assuming that the parents are not “auto 0” which I think means kids’ assets/income don’t count - others correct me if I’m wrong).</p>
<p>This is the first year for me and two. EFC was halved, kids have income under the protection level so are “identical” on paper. It was identical for each kid and half of an expected EFC. Doesn’t matter because the tuition/room and board will be double. I’m hoping the colleges take mercy on us with merit/grants/free money LOL.</p>
<p>I’m hoping the colleges take mercy on us with merit/grants/free money</p>
<p>LOL…I hope for your sake they will, too.</p>
<p>Did your younger son apply to any schools that give merit?</p>
<p>Mom2, yes he has gotten some merit at every school acceptance so far. But we were pretty targeted in an approach. He has two more schools he won’t hear from until end of March. He is totally content with one of college acceptances and very much likes one of the ones he’s waiting for in March. We can (I think and hope) handle the one that he is content with. It will be a very unsettling year…it would be for anyone with more than one in at the same time.</p>
<p>Real life example:
2009-2010
S1 (only kid in college) EFC = $39,144</p>
<p>2010-2011
Parent income up slightly, investments up slightly
S1 EFC = $23,259
S2 EFC = $21,224
Difference due to approx. $10,175 difference in savings/investments accounts in their own names</p>
<p>In the FAFSA EFC formula the part of the EFC derived from parent income/assets is divided equally between the number in college reported on FAFSA. The part of the EFC derived from the student’s own income/assets stays with the student. </p>
<p>So say you have 2 students. If the formula calculates that the parent driven part of the EFC is 20,000. When it gets to the part in the formula where is has # in college and sees there are 2 then 20,000/2 = 10,000 per student from parent info. If student A has no income assets of his own then his EFC will be 10,000. If student B has income and assets the formula will calculate a contribution based on those. If the student part of the EFC is $1500 then student B will have an EFC of 11,500. When the FAFSAa are processed student A’s EFC is 10,000, student B’s is 11,500.</p>
<p>From what I have read here on CC CSSprofile does not follow the same methodology and does not halve the parent contribution in the same way.</p>
<p>*From what I have read here on CC CSSprofile does not follow the same methodology and does not halve the parent contribution in the same way. *</p>
<p>Actually, I can see why CSS would do that. Their logic must be…if you have 2 (or more) in college, you should expect to contribute more overall than you would for just one.</p>
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<p>Seriously? Is this true? Because we have 3 people in college next year and if its true, I really think my EFC would be too high. On the other hand, both College Board and finaid.org’s institutional method actually divides my parent’s EFC by three when I input the numbers. </p>
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<p>Mom2, its likely that they would be contributing more than their EFC though because there’s a slim chance that both kids would attend schools that meet 100% need. And colleges that meet 100% need should know that there is less disposable income and savings for the applicant when the family already has another child in college at the same time, right? Sorry, I’m just trying to understand the FA process.</p>
<p>Gapyear, who knows. As a parent I’m highly skeptical that we wouldn’t pay more for college for two than for one. That defies all logic. That’s almost like buy one get one free. But that is entirely my opinion.</p>
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<p>Since when was this whole FA business logical? 
Don’t get me started on the kids with uncooperative NCPs.</p>
<p>Momofthreeboys, of course you’re right. For a family to be paying the same with two kids in college as they were paying for one kid in college, they’d have to be paying nothing over their federal EFC. That just isn’t reality for the vast majority of parents.</p>
<p>To ArchieMom</p>
<p>We’re in a similar boat…our numbers about $5k less for each child.</p>
<p>I put a call into financial aid office of child # 1 to ask what we might expect with an EFC drop in half…they said, the college only meets unmet need for freshman-- not upperclassmen. SMACK…WHAT?? I wonder how I managed to miss that very important fact when she decided to turn down the full rides she had at two other institutions in favor of the merit based- half ride at the much more competitive and better suited college she elected to attend.</p>
<p>I’m curious how the total package for your child # 1 changes with the $15k+ drop in her EFC! Do you expect grants-- or loans and Work study?</p>
<p>Wow. Mom2012and14, that sucks. That is, I suppose, an important warning for parents who have college seniors who will be making choices about which college to attend in the next few months – Check out the FA policies for upperclassmen!</p>
<p>When my kid#1’s EFC dropped by half, he actually became eligible for a partial Pell. And his college made up the difference in grants – but one of the reasons we supported his choice of that college from the get-go was its excellent FA.</p>
<p>*I put a call into financial aid office of child # 1 to ask what we might expect with an EFC drop in half…they said, the college only meets unmet need for freshman-- not upperclassmen. SMACK…WHAT?? I wonder how I managed to miss that very important fact when she decided to turn down the full rides she had at two other institutions in favor of the merit based- half ride at the much more competitive and better suited college she elected to attend.</p>
<p>I’m curious how the total package for your child # 1 changes with the $15k+ drop in her EFC! Do you expect grants-- or loans and Work study?*</p>
<p>How were you told that CMU meets need in the first place? By webpage? During a campus tour?</p>