I’m submitting FAFSA for the first time and I have twins. What does that Estimated EFC mean? Is that the EFC for each child so I have to double that to get our true EFC for the year or is that the total EFC for the family for both children?
@PPuggle Total for both! One advantage of having two kids in college at the same time.
Each of your kids will get their own EFC. If you indicated there are two going to be in college next year…the formula considered that in the calculation.
So…if EACH twin had a $10,000 EFC, you would at least be paying $20,000 a year ($10,000 times two…because you have two kids).
@NYDreammom I’m hoping this is what you meant. The EFC for one of those kids is only for that ONE kid…not both.
@PPuggle have you run net price calculators for your twins at their application choices? Indicate two will be in college…and get an estimate of net cost for each of them. This net cost will likely vary by school.
Thanks! It was lower than I expected from some college net cost estimators I had played around with but that amount doubled was crazy too so I wasn’t sure. Hopefully, this means we will qualify for some aid.
Just keep in mind that the EFC and the Net Price from the colleges might be very different. The EFC is mostly used for calculating federal aid. Unless you’re applying to schools that meet full need, a low EFC doesn’t mean that’s all you’ll be paying.
Yes, I meant that it’s already adjusted to take into account two kids in college.
It’s all a lot to process. I’ve been playing around with some net cost calculators and they are all over the place. Some ask for AGI and we sold some investments last year so that’s artificially high which increases our contribution but that should settle out in following years if my daughter chooses there. Well, one FAFSA is in and the other will be once my daughter returns home. Then, they apply to school and we see what happens next spring.