So your family is choosing to only spend $5k
At $150k, I’m surprised you are getting NPCs so low. I wonder if the data is being properly put in. Did you do the NPC or your parents ?
They should.
Bowdoin is an IDOC school meaning tax returns, brokerage statements that match the tax returns income and more will have to be provided.
If they are making $150k, no way you should apply ED. I’m guessing your contribution will be above $15k unless they have zero assets.