<p>Has anyone used FAFSA4caster and then used the exact same data in the FAFSA? If so, has it been right on? I would think since it is part of the FAFSA website family, it should be spot on for calculations. I have gotten a lot of different estimates on Federal Methodology EFC, but it seems like this one couldn't possibly be wrong. The others make assumptions for some of the values that I am guessing FAFSA4caster has the same values on as the actual FAFSA website?</p>
<p>As a side note, is the FAFSA4caster site new this year? I don't remember either seeing it or reading anything about it before I stumbled upon it last week.</p>
<p>no it's not new. You used to be able to use FinAid</a>! Financial Aid, College Scholarships and Student Loans for a good estimate but they are now obsolete because they don't have the 2009-2010 data in their calculator.<br>
EFC</a> Calculator: How Much Money for College Will You Be Expected to Contribute? does have the current data and gave me a good estimate. I have never used the 4caster but since it's done by the same people who do the fafsa, I would expect it to be accurate</p>
<p>Sue, I get a significantly different result using the two you listed. I realized that the FinAid one was outdated, but I don't get the same numbers on collegeboard as fasfa4caster. I am assuming that the f4c will be right, but wanted to see if anyone had run it then the real FAFSA. </p>
<p>Of course nothing matters until we see the magic EFC number, which we are on the fence waiting to see which side we fall on. I have no idea when we see that number.</p>
<p>the collegeboard one was nearly exactly what I got from the real fafsa, for me and my variables, it worked out. Like I said, I never used the 4caster.</p>
<p>I should have said that CB and f4c were close, within $100 or so I think. Unfortunately, my kids are going to fall right into that 4000-4100 range. We're actually at the point where it might be good to itemize a little less or not take a credit and pay a little more tax to drop that number 100. Based on last year's numbers, it would make my freshman to be D $890 in PELL plus $750 ACG, plus open up some more grants from her school. My S who will be a junior would also benefit for a least the minimum PELL.</p>
<p>I ran 4caster and fafsa and the efc both spit out were extremely close.</p>
<p>OK, I am going to answer some of my own question. </p>
<p>I downloaded the official worksheet for the FAFSA calculations and plugged in my numbers. What I found was the collegeboard site was right on the button with one exception. </p>
<p>For the state tax allowance, it gave you the allowance on the whole amount of income, both earned and nontaxable, which we have almost 10K. That was a difference of about 500 in AAI, or about 200 in EFC (divided by 2 for me since I will have 2 in college). Based on that result, D will be eligible by a pretty good amount. S will be over a little thanks to working last summer. He should have quit a little early. Had he made 400 less, he'd be looking at at least 1000 in free aid, probably more like 1500.</p>
<p>I will say it makes me a little nervous that it is the CB site that matches with the FAFSA calculation I downloaded. I would have thought the government site would have been correct. Turns out there is about 500 difference in EFC between CB and fafsa4caster, with CB being lower.</p>
<p>great analysis father05. I, as a federal employee, am NOT surprised that the 4caster sight is apparently wrong. Who ever programmed it obviously did something wrong and nobody caught it</p>
<p>I have it figured out.</p>
<p>fafsa4caster is using 2008-2009 data as is finaid.org. Collegeboard has 2009-2010 calculations. Major differences are Income Protection and state tax allowance, an extra 1,000 dollars and 1% allowance. So although EFC might remain the same for Pell eligibility, the same numbers in as last year will get you a lower EFC. Use CB for the best estimate. It also allows you to easily move some numbers to see what would change. +</p>
<p>We are close to borderline for S, if we were a little closer, I'd take less deductions on my taxes and pay a little extra tax to get the Pell Grant. As it is, he would come out a little bit ahead in the long run, but because he's at a state school and gets a grant from our Voc Rehab, we'll basically get it almost all back in the Hope Credit next year. If he got more money now, it would just eliminate the Hope Credit. D's future school is a little more pricey and the Pell and related perks will make it possible for her to go. Happy day!</p>
<p>FYI, the hope credit is being replaced the next 2 years(2009,2010) with credit of up to 2500 off taxes and the income level to claim it has increased alot.</p>