<p>If a parent had a trust asset listed as $10,000 AND the student had the same amount $10,000...what dollar amount difference would the EFC be? </p>
<p>I know you can't predict the effect on aid...but what about just the EFC difference...say on a family income of $120,000, student income $3000. </p>
<p>Bank accounts about $10K total for parents...$3k for student.</p>
<p>FAFSA only.</p>
<p>If the parents have no other reportable assets (stocks, real estate etc) other than $20k (the bank account and the $10k in the trust) then there should be no affect on the EFC as $20k would be under the protected asset allowance. If there are other assets then the parents $10k would have @ 560 effect on the EFC.</p>
<p>Students have no asset protection and their assets have a higher impact on the EFC so $10k would add 2,000 to the EFC (20% of $10k).</p>
<p>So the total effect of the $10k in parents name + the $10k in student's name should be @ 2,000 (if parents fall under the protected asset limit) to 2560.</p>