<p>Can someone explain these #'s briefly? I've been to 1 campus and listened and tried to understand all of these #'s etc. I am a single mom but very fortunate with college funds and assets which probably means I pay full tuition/merit aid. I've tried to run the #'s but get messed up when I look at my taxes from last year b/c I pay estimates each year.</p>
<p>I was a single parent the first time I filled out the FAFSA as well back in 2004 <em>hugs</em></p>
<p>Your estimates are really not important when filling out the FAFSA. The numbers that are important are the adjusted gross income, and the actual tax paid (total tax - line 60 on the 1040). They don’t care if you get a refund or how much you write the check for.</p>
<p>The EFC is just a number indicating the minimum you would be required to pay towards your child’s education. The important numbers are those that the college financial aid office provides in a FA package.</p>
<p>hisess - if you have questions regarding EFC and FAFSA - head over to the financial aid thread. There are posters on there such as swimcatsmom who really know a lot about financial aid. I also recommend purchasing or borrowing a financial aid book - like Paying for College Without Going Broke, there is also a really good one put out by Sallie Mae. You mentioned that you are “fortunate with assets”. One strategy to do this year - if your daughter is a junior - is to pay off any debts and reduce those assets accordingly - if you want to improve your chances for need-based aid. For example, say you have $15,000 in a bank account and a $15,000 car loan. FAFSA does not consider consumer debt. So, it figures you can use part of that $15,000 bank account to pay for college and does not even ask if you have a car loan. So, if you pay off the car loan, you have gotten rid of a debt and by getting rid of cash, you have less cash available to pay for college and greater need for financial aid. </p>
<p>If you are not eligible for need-based aid - there is also merit aid - which has nothing to do with your income. I think I saw you mentioned High Point - they have good merit aid - at least from what I have seen on there website and from one friend whose son is a freshman there has told me. If you haven’t already done so - look at the financial aid webpage for each college - look at scholarships. Most will give you their criteria - like if you have x GPA and y SAT you get $10,000 per year - and so on. I am pretty sure I saw something like this at Eckerd also. Hope this helps.</p>