<p>Our EFC: 42k
Her assets: 220k
Her income: 12k</p>
<p>Even if you drop my holdings (~9k in a stock account which will be used for school next year) it's still 33k.</p>
<p>All of that money was an inherritance. After it goes, there will be nothing. I have a younger brother who will be entering college after I graduate.</p>
<p>I sat on the phone waiting for the FAFSA help people to see what they said -- and they can't even look at it for at least another 3 days . . .</p>
<p>I might be stuck at this school because I won't be able to get any aid, and we can't take out that many loans. Mom was expecting about 9~10k out of her own money, not triple that.</p>
<p>something is remiss...print out your response to make sure that they are correct. Try using the efc calculator on collegeboard's site to see what you come up with. As a general rule, 33% of YOUR assets are counted for college expenses, but only 5.6% of your parents. </p>
<p>Check out barkowitz' web page below. While he works for MIT, he provides clear and concise info on how finaid is calculated by private schools. Good luck.</p>
<p>That is an amazing link, and actually makes me feel better about the IM, since the FAFSA doesn't take into account that the apartment is being rented at a loss (to the tune of about 9k this year!) and that we're living off of assets.</p>
<p>I'll foward that to my mom right away so she can start breathing again.</p>
<p>Neithe of us could figure out how to put the assets in the EFC calculator, so it wasn't helpful.</p>
<p>It is impossible for the FAFSA to return such a high number. </p>
<p>Based on your reported income, the assessment on assets of 220,000 should be minimal. Your contribution is 35% of your stock portfolio. </p>
<p>The IM will yield a different figure, especially if the assets are rental real estate. The depreciation will be added to your mother's income but your contribution will be smaller.</p>
<p>Thank you so much bluebayou and xiggi -- it must of been some screw up on the forms on mine and my mother's part.</p>
<p>Yes, one of the assets is rental real estate (the rest is stocks and bonds) that sat empty for 6 months while my mom fixed it up (New paint, appliances, etc etc) and tried to rent it after my grandmother's death. As far as I understand, she just about breaks even on the rent.</p>
<p>I have no idea how this depreciation thing works (I know my mom hired an accountant to figure that one out), but that would make sense.</p>
<p>We're living off the assets, pretty much; my mom also dug up her and my father's Social Security reports which show their wages each year -- ao it shows that there was no way any reasonable amount of saving could have happened (We were on welfare when I was a kid!), so I can only hope there's some wiggle room.</p>
<p>I don't want to spend another year here, but I'll have to if the finances aren't there.</p>