<p>Can some experienced CCers please contribute your knowledge regarding differences in efc from fafsa and from universities which use profile as a primary source of information?</p>
<p>Assuming that the school is need blind, 100% of aid and no merit aid is included, do there tend to be big differences in efc? </p>
<p>Keeping differences in how assets are considered, I think assets would be quite similar with both. For example, we live in a relatively low cost housing market, so do not have an extremely large amount of home equity. The only difference I can think of is that some funds would be considered as parent assets under fafsa and student assets under profile.</p>
<p>Any examples or general information would be MOST appreciated. Thanks in advance.</p>
<p>Home equity is the biggest difference- it's considered by Profile, but not by FAFSA. Also, there is a larger parental asset protection allowance, usually, under FAFSA. And under Profile, there will be a minimum student contribution to the EFC of $1550, and no student income protection allowance as there is with FAFSA.</p>
<p>PROFILE is not really one same form for all of the colleges as FAFSA is. When you complete PROFILE, there are questions that are individualized for schools. So it is hard to make generalities. As one poster said, IM is when they do anything they want. Home equity is a big difference, but some schools have allowances for that. Money in siblings' accounts are often assessed by PROFILE schools, and even 401Ks and other retirement accounts that FAFSA will not ask about will be examined and sometimes used. (not that often yet). They may ask about cars and the year's previous financial situation is also apprised. As one poster said, they may even ask about the fillings in your teeth! LOL-joking, a little.<br>
A big difference is that FAFSA is done by a computer. No human passing judgement on things and looking for nuances or exceptions. PROFILE is carefully examined by the school's financial aid officers who look hard for these things. To some applicant's benefit, things like private school tuitions for siblings and other unusual expense items that FAFSA won't evaluate may be considered to an applicant's advantage. But there are some things that don't look or smell right, that can raise the flags. The financial aid officer has a lot of discretion in evaluating the app, and can make a number of individual decision that do not have to be precedents. Also, how much the school wants you plays a big role in interpreting PROFILE.</p>