This isn’t that unusual. The parents’ business shows income but they’re pouring it back into the business, taking business deductions, etc…which CSS is capturing.
FAFSA is giving an EFC 0 since they’re showing too little income (because of business finance gymnastics) and therefore that other house isn’t included.
The family has more money than they’re really showing. They’re allowing people to live in another home rent free. So they’re absorbing all the costs of that home while also absorbing the costs of their own home. CSS schools are seeing the bigger picture.
The family may also have savings that isn’t being counted on FAFSA due to showing low AGI. They may just be paying themselves a low income. And the business may be covering expenses like cars, cell phones, etc.
children often don’t understand all of this. They just know what they’re being told…low income…0 EFC. When the reality is that there are assets, business value, income.
And again, the Tulane money is the outlier because it is pure merit, not Wellesley or Spelman that both agree the financial gymnastics don’t result in FA. Someone explain the UC for me? I am unclear?
OP must have some nice merit money elsewhere if she managed to get a full ride at Tulane, they are very good at sniffing out merit chasers who don’t intend to matriculate. What was the specific award there?
You just visited Tulane and “many students” said that they don’t lik it there? In what context were you talking so intimately with Tulane’s students? How many Tulane students did you actually talke to and how many said that they didn’t like it there?
Is that second home paid off? Is your primary home paid off? What sort of business does your parents have?