<p>I was considering applying ED, and I never thought paying would be an issue if I apply to a private. However, Cornell's financial aid calculator estimated $62,168 EFC per year! My parents make around 74k (adjusted gross income). We have paid off our house and it has appreciated in value (120k now, we bought for 88k under a special government price for low-income families), and we have 30k in the bank. I'm an only child, and my FASFA EFC is 9990. I went through the financial aid calculator twice to ensure there weren't any typos, but these results aren't making any sense to me.</p>
<p>You can always cancel your ED agreement if you can’t afford to attend. Calculators and actual aid that you will receive will be different. You never know how much Cornell will give you.</p>
<p>Yeah does anyone know if the calc is accurate? Everyone says Cornell gives great financial aid to low income, but they still want me to pay 10k a year with loans which is a bit steep for a 35k income family according to the calc</p>
<p>Based on the information you provided about income and assets, it seems like a mistake somewhere. An EFC of $62 K when family income is $74K, a $120 K house, and $30 K in the bank? Do you have other assets or your own business? What am I missing? As someone who has gone throught the financial aid wars at selective private universities, it just doesn’t make sense to me.</p>
<p>There is a mistake my AGI is 185k with two in college and my EFC is 43K. Your numbers are off even with home ownership.</p>
<p>Okay, that’s what I thought! </p>
<p>@kaukauna - nope that’s everything, but I guess I made a huge error somewhere along the way</p>