<p>My parents total income a yr is about 185,000, and when i applied for financial aid last year all they gave me were loans. But this year my brother is also going to college, and my EFC hasnt changed. my parents income has risen slightly. can anyone help me understand why my EFC hasnt changed even a little bit.</p>
<p>Check your forms. You need to make sure that you indicated on your financial aid form the number of folks IN your family and that TWO would be attending college. Another thing...did YOU have any substantial income. OR do you have college savings plans? If you have assets that can cover your college expenses in the student's name, then those will be tapped and there is no asset protection for them. </p>
<p>Just FYI...our income isn't nearly as high as your parents, and our EFC was still mighty high for each student. </p>
<p>Unless there are significant assets in the student's name, one would think that the EFC would be less with two in college.</p>
<p>EFC even at schools that meet 100% of need-
can be met by grants- work study- loans OR any combination thereof.</p>
<p>A school could meet 100% of need with 100% of loans if they wanted.
If your EFC hasn't changed- & your parents income has risen, that also may be why.
I also noticed that as my daughter is now 17, she can't be taken off as a child for tax purposes. If your brother is 17 or over, that makes a difference in taxes owed which will make a difference for EFC.</p>
<p>
[quote]
I also noticed that as my daughter is now 17, she can't be taken off as a child for tax purposes. If your brother is 17 or over, that makes a difference in taxes owed which will make a difference for EFC.
[/quote]
But wouldn't that mean you pay more taxes so the EFC would be lower? And with an income of $185,000 they probably did not qualify for it anyway.</p>
<p>gohansd - are you talking about FAFSA EFC? If so I would expect your EFC to go down with a brother in college at the same time. The EFC is calculated with a family part and a student part (though you just see a single figure). The parent part of the EFC should be halved as it is divided between the number of students. The student part would be based on student income/assets and would not be divided between the two students. As thumper said - check that you filled the form out correctly.</p>
<p>If you are talking about a CSS EFC - not sure how they treat having 2 in college</p>
<p>well our EFC isn't lower because our oldest is no longer a deduction.
Also I think the child tax credit comes off of income- so the income that is considered when your taxes are calculated is lower. If it is added back in, then that is more income available.
Yes you could pay more taxes, but it seems that FAFSA is more interested in how much income, than how much taxes.</p>