Sudden efc jump from 3246 to 5339?

Paying for College
1

<p>Today, I got a fasfa report of a correction made by my college. Before the change, it was 03246, and now, it is 5339. </p>

<p>So far all I am noticing different is my brother turns 24 this summer. Does that account for the whole 2000+ jump in efc or no? I am curious about this and also asking the financial aid adviser for where the 2000+ jump came from. Has this happened to anyone else? My familys' income is 64,000. We have no investments, and my family has taken money out of their retirement funds.</p>

2

<p>The money taken out of retirement may have been then considered income, and that is why the jump in EFC…?</p>

3

<p>@teach</p>

<p>I think it may have been added in, but they took the money out in 2011, not 2012.</p>

4

<p>3246 is very low for an income of $64,000. Were you claiming your brother as a family member in college on your FAFSA? If so, then that would cause your EFC to be lower than it should be as at 24 he can not be claimed as on in college on your FAFSA (as he would be independent for his FAFSA). </p>

<p>The part of the EFC generated by parent income/assets is split between the number in college. If you claimed him and they corrected it, that part of your EFC would double. (the part generated by your own income/assets would not change).</p>

5

<p>@swim</p>

<p>Thank you for your input! X_X Loans here I come, now that 4k in grants are now gone…</p>

6

<p>Look at your FAFSA - you can see the changes in your account. See what they changed. If you can’t figure it out, do call and ask.</p>

7

<p>^What grants did you lose? Pell?</p>

8

<p>I lost Pell and my state grants(most likely). Since I can only view pell status as a no, i’m gonna assume no state grants either DX.</p>

9

<p>A family who is earning at least an average wage, is not going to qualify for a PELL grant.
That is for low income students.</p>

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<p>I’d hate to admit it but, I guess we are “average”. Our income last year was 59k however DX</p>