<p>So we are in the midst of completing our FA renewal for our son's sophomore year. For renewal, his school only requires the FAFSA and their form which is very rudimentary---it mostly wants to know if anyone will be helping with your tuition costs and how much you feel you and the student can contribute
The first year we submitted the profile and in fact our profile EFC was about 7,000 lower than our FAFSA.</p>
<p>Do schools generally factor in all the information on the original profile (nothing much has changed for us) as well as the current FAFSA?
Our FAFSA EFC seems so high compared with what we paid last year as an EFC</p>
<p>I don't know the answers for certain...but my guess is the FAFSA verifies your income and assets for the 2007 tax year. Other information from the Profile shouldn't look too different...your home value and equity for example (unless you moved..hmmm...now how would they know that??). </p>
<p>Our DD's school also only uses the Profile during the freshman year, and not in subsequent years. Her financial aid really hasn't changed....</p>
<p>Yep, the Profile info is essentially the same as last year--we did not move and our home equity is about the same despite the fluctuations in the market.
Our assets are a bit less due to the volatility in the stock market, but I think as I see it all of our assets are excluded from the EFC due to the asset protection allowance. All of the EFC I think is based on income--which is up a bit this year, so I would think our EFC would increase in proportion to that</p>