EFC of 55k for 125k income sounds very high to me. So does 37k. Colleges assume average expenses, so if we have high (optional) expenses (like expensive homes and cars) those are not taken into consideration, although things like #of family members and medical expenses are considered.
Since the goal of Cornell is to meet 100% need with minimal loans, I don’t think they expect anyone to take out 175k loan. It means there’s a HUGE discrepancy in what they think you can pay and what you think you can pay. Why do you think that is?
Our income is very close to yours, and our EFC was about half of yours.