<p>College…on one of your other threads you refer to the EFC. Cornell uses the CSS Profile as well as the FAFSA. Their institutional need based aid awards really have nothing to do with the FAFSA EFC. Cornell uses the information from the Profile to determine your need based aid award using their funds.</p>
<p>I’m guessing that Cornell’s package was less than you anticipated. It is highly likely that the information on the Profile, which delves deeper into finances, was used.</p>
<p>Things that can make a difference:</p>
<ol>
<li><p>Divorced parents. The FAFSA EFC only considers the income and assets of the custodial parent, plus any child or spousal support. The Profile has a non-custodial parent form as well…so both parents are used.</p></li>
<li><p>Primary home equity- the FAFSA does not even ask for information about primary home equity. The Profile does. Colleges use home equity to a greater or lesser degree when computing need based aid.</p></li>
<li><p>Simplified needs- for FAFSA, you might qualify for this if your income is below a certain amount and you satisfy another requirement. Your assets would not be considered at all. For Profile, your assets would be considered.</p></li>
<li><p>Self employed or business owners- deductions allowed by the IRS for self employed or business owners are often added back in as income for institutional financial aid purposes.</p></li>
<li><p>Rental properties- if your family owns these, you could also see deductions allowed by the IRS added back into income for financial aid purposes.</p></li>
</ol>