parental age and EFC

<p>Does parental age play any role in determining EFC? My D is a rising jr--when she completes college apps/FAFSA/etc in 2006, her dad will be 64 and I will be 55 (yeah, we started late); I have already retired from 25 yr career and am receiving a pension. My 'second career' job pays about 1/2 of former career position, so my income has actually risen when the two are added together. Her dad, my ex, is 2 yrs out of lung cancer and I'm a 2x cancer survivor myself--but I don't think there is a space on forms to enter these tidbits. I have a ygr teen adopted after divorce so I will soon have two college age kids vs ex's (our) one. I realize that at some point the 2nd child will impact my FAFSA and any change in our health could constitute changed circumstances, but I wonder if parents' age alone impacts the EFC in any way.</p>

<p>The age of the older parent has an impact on the Education Savings and Asset Protection Allowance, as it reduces your ASSETS availabla for contributions. </p>

<p>The size of your family and number of children in college had an impact on your INCOME available for contributions. It is, however, different from the asset exclusion. </p>

<p>For instance, in 2004-2005 the allowances (for assets) for a two-parent family would have been:</p>

<p>50 ............ 47,900
51 ............ 49,100
52 ............ 50,300
53 ............ 51,800
54 ............ 53,100
55 ............ 54,700
56 ............ 56,000
57 ............ 57,700
58 ............ 59,400
59 ............ 61,200
60 ............ 63,000
61 ............ 65,200
62 ............ 67,100
63 ............ 69,000</p>

<p>Xiggi,</p>

<p>I know that the CSS profile takes all of ths into consideration , but does the FAFSA?</p>

<p>The allowance for FAFSA 2005-2006 is reduced from 2004-2005 as shown in
<a href="http://www.fafsa.com/fmtables.htm%5B/url%5D"&gt;http://www.fafsa.com/fmtables.htm&lt;/a>
25 or under $0
30 $11,100
35 $22,200
40 $33,300
45 $37,700
50 $42,800
55 $48,900
60 $56,200 </p>

<p>or page 3 in
<a href="http://www.fafsa.com/downloads/EFC/6-17-04%20Federal%20Register%20with%20FM%20tables%20for%2005-06.pdf%5B/url%5D"&gt;http://www.fafsa.com/downloads/EFC/6-17-04%20Federal%20Register%20with%20FM%20tables%20for%2005-06.pdf&lt;/a&gt;&lt;/p>

<p>Sybbie, yes it applies to the FAFSA as well. I used the EFC Formula as reference.</p>

<p>As fftd posted, the numbers are different for 2005-2006. Here's the latest one. </p>

<p><a href="http://studentaid.ed.gov/students/attachments/siteresources/EFCFormulaGuide0506.pdf%5B/url%5D"&gt;http://studentaid.ed.gov/students/attachments/siteresources/EFCFormulaGuide0506.pdf&lt;/a&gt;&lt;/p>