FAFSA EFC

Paying for College
1

Hello,

I currently have two jobs, one as a work-study student earning 500$ per semester and another at a part time earning rougly 200$ a week.

In total for 2016, I should have earned about 1,900$… now this scares me. I have to keep my EFC below 2100 in order to keep receiving one of the scholarships that I currently have.

My parents have about 45,000$ earned this year. I’m not planning on keeping the money in my bank account as I have to purchase books, clothing, gas for car, etc…

My parents would probably have 1,000$ at the time that I file the fafsa.

What should I do? I’ve been trying to calculate my EFC but I can’t find the variables that the FAFSA uses specifically. My financial aid advisor refuses to help me on this… so help? please?

2

Also I calculated the workstudy into my other job for the 1900$.

3

https://fafsa.ed.gov/fotw1617/pdf/PdfFafsa16-17.pdf

4

I think this will help you:

http://talk.collegeconfidential.com/financial-aid-scholarships/1726777-fafsa-spreadsheet.html

5

https://bigfuture.collegeboard.org/pay-for-college/paying-your-share/expected-family-contribution-calculator

Collegeboard EFC calculator works well too. (Federal methodology).

Federal work study income will be subtracted on the FAFSA from your total income (question 44c).

A student can earn around $6300 before his income contributes to EFC.

6

What was your EFC for the 2017/18 FAFSA?

Did your parents make the same $45,000 in 2015 and 2016?

7

2016 income won’t be used until the 2018/19 FAFSA next year.

The FAFSA for 2017/18 uses 2015 income.