<p>Hi, I have a question. If my parent bought a car this year and paid off some loans that changes our assets and it changes our EFC drastically from this year for next year. Is there anything I'm going to have to worry about filing the FAFSA next year like the school questioning why there is a big change in financial aid? Thanks.</p>
<p>Also, if my parent transfer some of her money to borrow to my uncle to pay off some of his house loans, would that be a problem?</p>
<p>Keep in mind that current students who have a drop in EFC often don’t get more aid. So, if your parents are doing this to lower their EFC, this may backfire.</p>
<p>What school is this? Is it a FAFSA only school? Is it an out of state public?</p>
<p>I think you need to check about loans…there is something about loaned money that won’t help you, I don’t think.</p>
<p>How much money are we talking here? You would have to liquidate a TON of parent assets to make a difference in your EFC per FAFSA. The FAFSA only uses about 5.6% of the asset amount and that is AFTER an asset protection allowance for your parents. </p>
<p>Seriously…it would have to be a HUGE amount to make a big difference.</p>
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<p>Why wouldn’t they transfer the money to your college costs?</p>