I updated my FAFSA (2/16/16) with 2015 tax info, EFC went up, my daughter got an email( 3/10/16) asking her to sign my update, she scrolled through didn’t make any changes and the EFC went up again…why? She just lost her Pell, FSEOG and Perkins eligibility we are $200 over. I reviewed both corrections line for line exactly the same, is there anything I can do?
Was your actual AGI higher after you updated than on the initial FAFSA?
Did you estimate your tax paid as higher on the original FAFSA?
Did you have IRA contributions deducted on your tax return that the FAFSA added back in?
You would not have received a new EFC as a result of your changes until your D signed the update … it would not have processed without her signature. I suspect the interim increase was the result of something a school changed on its end. Compare the SAR from #1 and #2 to see what changed (#3 will be the one your D signed).
- yes AGI was a little bit higher
- No
- No, I knew what I had contributed
Timeilne -Jan 3 filed FAFSA with 2014 income = EFC $3000
Feb 16 - did 2015 taxes updated FAFSA using IRS tool - EFC $4100
Mar 10 - daughter gets email stating she needs to sign my tax update - she signs - EFC goes up to $5500
Make sure February 16 is actually the result of your changes … any unsigned updates should not process & result in an updated EFC. I strongly suspect the Feb 16 EFC is actually the result of a change a school made … before they received the tax updates.
I though that FSEOG and Perkins are not guaranteed and are usually reserved for the students with the lowest EFC.
I would contact the school that emailed your D about the update and have them explain what increased the EFC up to over $5,000
Perhaps income is now high enough that assets count?