<p>ok so my parents annual salary combined is very low however they have some money saved up in the bank but it is less than $100,000</p>
<p>right now i used fafsacaster to calculate </p>
<p>Total Estimated Federal Aid Eligibility
$15,955 </p>
<p>however they never asked me about my parents bank and it does in the real app</p>
<p>how much will this effect me</p>
<p>15,955 EFC without assets? That does not sound very low income to me.</p>
<p>It is hard to say what if any impact they will have. Assets can affect the EFC by up to 5.6% of their value. But there is asset protection based on the age of the older parent. And if you are low enough income (<$50k) and are otherwise eligible (file a 1040a or ez or meet other criteria) you may be eligible for the simplified needs test where assets are ignored.</p>
<p>yes it is <50k and my oldest parent is 53</p>
<p>Try using this…This has a place to list savings.</p>
<p>[FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid](<a href=“http://www.finaid.org/calculators/finaidestimate.phtml]FinAid”>http://www.finaid.org/calculators/finaidestimate.phtml)</p>
<p>Where did you apply? Some schools use CSS Profile and might consider more.</p>
<p>thank you </p>
<p>i got accepted to University of Washington.</p>