New 2017/18 EFC formula available

Paying for College
1

http://ifap.ed.gov/efcformulaguide/attachments/071416EFCFormulaGuide1718.pdf

If you want to calculate your EFC.

Income protection allowance for parent and student has increased some. Asset protection allowance will be higher since parent will be a year older. Income (AGI) should stay the same since 2015 tax year is used again.

Our EFC based on the new formula was a bit lower then last year, but might increase by the time we file FAFSA because of student assets from summer job.

2

See end of this thread below, the spreadsheet I created does al the calculations for you.
@mommdc, I would be curious if it matches your numbers.

http://talk.collegeconfidential.com/financial-aid-scholarships/1726777-fafsa-spreadsheet-p2.html

3

@rgosula, yes your spreadsheet calculated the same EFC!

4

Great!