<p>i heard from someone that if you have above some # in your account you have to pay with ~half towards your tuition. is this true?</p>
<p>For FAFSA 20% of student assets go to the EFC (compared to @ 5.6% of parent assets).</p>
<p>For FAFSA 50% of (dependent) student income (other than that from student aid such as work study and taxable grants/scholarships) over @ $3200 goes to the EFC.</p>
<p>True. Many times on here it has been stated how beneficial it can be to use your savings to purchase things ahead of time that you will need in college (i.e. laptops, etc.). By spending your money wisely BEFORE you file your FAFSA, you may be able to improve your financial aid package.</p>
<p>Money in the bank can decrease the amount of need-based aid you are awarded. However, it should not affect merit-based aid.</p>
<p>Thanks for clarifying that. I was referring to need-based aid in my comment.</p>
<p>DARNIT, i reported the 70 bucks that i had in my bank account.
That raised my EFC by a good $17.50</p>
<p>No - only by $14 - go buy a Starbucks - not a venti though.</p>
<p>oh, for a second I thought you said 25%, that makes me feel better.</p>