<p>I just filled out the FAFSA a few days ago with my parents and it came back to me, and suprisingly, it was over 12,000. I dont really get this, as both of them together only bring home about 50k a year and i have 2 brothers. They dont have any money left over to help pay for my college, so thats why I filled the FAFSA out, and it comes out with this. Did we do something wrong?</p>
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I dont really get this, as both of them together only bring home about 50k
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Things to look at</p>
<p>Do they earn $50k gross? Or bring home $50k? That makes a big difference. FAFSA looks at the AGI and adds in any untaxed income. For instance if they are putting money into an IRA that is added back to income for the EFC calculation.</p>
<p>Do they have high assets? Assets are also taken into consideration by FAFSA. </p>
<p>Do you have earnings or assets in your own name? Those can have a big impact.</p>
<p>thanks for the reply. they are only bringing home 50k. I worked over the summer last year and made roughly 4k, but i wont be working once college starts? does that affect it?</p>
<p>Does anyone know? Because if this is the real number, I've got to say screw college, because I don't have money to pay for it, and with that number I'd be lucky to get student loan.</p>