I recently got my EFC, is was about 7k. My family’s income is 70-75k and we have no assets, is this number abnormally high based on my information? thanks
Note: i did not have anything like workers comp, disability, etc. we did have around 3k in untaxed income that i also added
No, it’s not high. It just feels that way. You unfortunately fall into the category of folks who make too much for federal grant aid, but who sure could use it.
Is this your FAFSA EFC? If it is, then no, this is not abnormally high based on the income your report. In fact, I’m surprised it’s this low with a 70-75k income.
It actually sounds low; do you have siblings in college as well?
This $7000 FAFSA EFC sounds low to me too. But it’s certainly not too high given your income.
Remember this…your FAFSA EFC is the MINIMUM your family will be expected to pay for college annually.
Does your state have any programs for lower income students? NY and CA, for example, do.
I really wish they would change the name from EFC to Pell Index or something. It’s so confusing for people when they call it the “Expected Family Contribution”.
Generally, your efc would be closer to 25% of your AGI, not the 10 you’ve indicated. Does your income by any chance come from a business you own or a farm?