<p>i'm thinking of applying elite universities and need quite a considerate amount of FA. Over the years, i worked and made some money. But i had to spend it on school and food and other stuff. So i don't really have a lot saved up for college. Will admission people get suspicious and check my employment history and everything? (i quit quite a fair amount so i don't really want them to see)</p>
<p>There is really nothing to be suspicious about. For one thing they will only look at your income for a base year, which is the year prior to the year you apply for aid. To qualify for aid you (and your parents if dependent) must submit income and assets info. Based on what the calculation provides and what the cost is of the schools you are considering, you will either qualify or not. The best way to do this is to understand how the formula works and all the things you might be able to do to increase eligibility, as well as how much aid the schools in question provide, historically, and proceed from there.</p>
<p>They will consider whatever income you made for the following year’s EFC calculation. They do not go back further than that. They generally do not care what you did with the income - the formula will compute a certain expected contribution regardless of whether you saved it or spent it.</p>