Hello,
I have been independent since last fafsa due to my age. However, my 2017-2018 EFC was 0. I just filled out my fafsa for 2018-2019 and it is saying that my EFC is 000060. My bank account balance was $25 this fafsa as opposed to $50 the prior one not including loans, however, I did make about $3,000 more with work. So could that honestly be the reason? Would $60 matter much in terms of grants and what I’m offered?
Thank you
I think that you are going to need to find a way to have more than $60 in the bank if you want to go to university. There are going to be incidental expenses.
Yes. Your EFC from last year was based on any income you had the year before. You now have income.
@DadTwoGirls I am currently attending university as a junior.
@twoinanddone I have worked both years, but made more this fafsa. Is that going to change my grants or loans much for the 2018-2019 school year?
You will get $60 or so less in Pell grant money.
But you also worked…and earned $3000. You should be able to cover that $60 difference.
@thumper1 No. For the 2016-2017 fafsa I made about $3,000 LESS ($8,700 vs $11,700) than the 2017-2018 fafsa. I was just curious if that difference in income is what changed this EFC?
Yes, you have income of almost $12k. You are lucky your EFC is only $60.
EFC of 60 means you have the ability to pay $60 annually towards college … no worries assuming you are not claimed as dependent on parents taxes
So you made MORE in 2016 than in 2015?
And yes…it’s possible that the added income added $60 to your EFC.