<p>Fafsa says my EFC = 165296. But surely it can't be a monetary value, seeing that's twice our annual household income?</p>
<p>If your parents have $3M in assets it sounds about right. Most likely you made a mistake. When your SAR is available, double check all the entries. </p>
<p>We definitely don’t have anywhere near $3M in assets. Thank you x</p>
<p>Did you accidentally put in an extra 0 somewhere?</p>
<p>Did you accidentally put income or assets in the “student section”?</p>
<p>I got my SAR today. My parents have a very large pension/retirement account. I don’t understand why that would affect it (especially so drastically), though…</p>
<p>You should recheck everything, including how much is in your bank account(s), because otherwise you will hardly any need-based aid. Then again, if your parent make more than $60k /yr, then your chances start slimming down.</p>
<p>Also, make sure you update your parents income tax for this year soon, maybe that would help? </p>
<p>Assets in formal retirement accounts, IRAs, 401ks etc. should not be reported on FAFSA. The instructions clearly say this.</p>
<p>^^ yes, you’re right. That’s what went wrong. My dad entered the total value of his account instead of what he put in this year. Thank you all! </p>
<p>Glad you found out what the problem is. </p>
<p>Are those dollars in “true” retirement accts? IF they’re in regular accts but intended for retirement, then those would count.</p>
<p>As an aside…looks like FAFSA EFC no longer maxes out at $99k.</p>
<p>That’s correct. They updated the fields to allow more digits!</p>
<p>SAR = ? </p>
<p>How is your google-fu?
<a href=“http://studentaid.ed.gov/fafsa/next-steps/student-aid-report”>http://studentaid.ed.gov/fafsa/next-steps/student-aid-report</a></p>