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EFC too high for the income (no side business, no crazy assets)

KeithPhantomKeithPhantom Registered User Posts: 2 New Member
Well, today I was filling out the FAFSA the second time (first time it went through fine), but I note in the SAR an EFC of about 014000 when our AGI is 37k. No assets, no stocks, nothing fancy, just got that high number, when basically with the same AGI last year we had a 00400. I am really worried because it can affect my student aid. Now I am waiting for it to go through the process and attempt a correction attempt in order to see if I made any mistake. But do you know why this could happen?

Replies to: EFC too high for the income (no side business, no crazy assets)

  • BelknapPointBelknapPoint Registered User Posts: 3,752 Senior Member
    But do you know why this could happen?

    It could happen if you made a mistake.
  • thumper1thumper1 Registered User Posts: 71,018 Senior Member
    1.Did you use the IRS Data Retrieval Tool?

    2. Any chance you had a TSA or IRA rollover in 2017?
  • KeithPhantomKeithPhantom Registered User Posts: 2 New Member
    1. Yes
    2. No, my parents don't have any type of investments or financial assets. Nothing of value.
  • thumper1thumper1 Registered User Posts: 71,018 Senior Member
    A TSA or IRA is a retirement account. If either of them had one with an employer and changed jobs in 2017, they might have rolled over their account to a different one. You need to ask them.

    Check the FAFSA...see if by chance they entered assets incorrectly...adding a zero or putting a decimal point in the wrong spot.

    Make sure the parent info isn’t in the student section.

    Something isn’t right. So check...and recheck.




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