EFC vs Actual Income

Paying for College
1

<p>What if my EFC is around 18,000 but my AGI is under 80,000? Will I still qualify for the blue and gold opportunity plan?</p>

2

<p>Anyone?</p>

3

<p>It is hard to tell. The rules say that you must also have need, so if there are assets then those are also considered. why is your efc that high …do you have assets, or is your household very small?</p>

4

<p>I have assets in savings accounts. Maybe that’s why. But my income went down a lot @mom2collegekids</p>

5

<p>Are you a dependent? Dependent assets are assessed at a much higher rate than parent assets.</p>

6

<p>These are all my parents assets. I am a dependent with no assets @BrownParent</p>

7

<p>Are you Jr anticipating your costs?</p>

<p>ok, how much did you report in student savings?</p>

8

<p>Student savings I reported 1,000. which is the money that my parents essentially transferred to my account. @BrownParent</p>

9

<p>OK that wouldn’t make much of a difference. I don’t know why. Here is the UCLA calculator, try it. UC’s have a family contribution portion, and in addition a student contribution of 8 or 9 thousand that is made up of student loans and work/study and/or summer earnings.</p>

<p><a href=“http://www.fao.ucla.edu/aid_estimator/Dependent.aspx”>http://www.fao.ucla.edu/aid_estimator/Dependent.aspx&lt;/a&gt;&lt;/p&gt;

10

<p>Hmm okay I got around 9,000 in grant money that I do not have to pay back. The other is my parent and student contribution @BrownParent</p>

11

<p>did you run the calculator I gave you? If it shows a lot different scenario than you got call them or email and ask asap.</p>

12

<p>Yeah when I ran the calculator I got 9,000 in grants @BrownParent I haven’t been accepted to any schools yet since I’m a transfer. But for the blue and gold, they don’t simply look at income (AGI) right? </p>

13

<p>""Student savings I reported 1,000. which is the money that my parents essentially transferred to my account. “”</p>

<p>???</p>

<p>why did they do that??? that hurts your efc</p>

14

<p>$1000 in student assets adds $200 to the EFC. </p>

15

<p>@mom2collegekids: I’ve always had atleast 1,000 in my savings account. I use a debit card… is it not normal to have money in an account for kids to use?</p>

16

<p>I don’t think $1000 in your savings is a huge issue. Like I said, that added $200 to your family contribution. That is not a huge amount of the total. It would only be a huge issue if you were very close to Pell Grant eligible and didn’t get it because the asset was in your name. You are WAY above the eligibility for the Pell.</p>

17

<p>Yeah I’m definitely not eligible for pell grant. But that does not mean I’m disqualified for the blue and gold opportunity plan right? @thumper1</p>