Chance Me for ED Columbia in Poli Sci/Econ + Match Help

Mwfan1921
Sun, 05 Sep 2021 12:02:28 +0000

imsleepytho:

We do own real estate beyond our primary home, both here and in Bangladesh. Although I don’t know the specifics, I’ll talk to my parents. Do you know if it affects the NPCs drastically?

It depends on how the assets are classified (investments vs a business), and for CSS Profile, each school’s proprietary formula.

Real estate beyond a primary home will have to be reported on FAFSA and CSS Profile (for your schools that require Profile). Equity in a primary home is reported on Profile but not FAFSA.

If classified as an investment, on FAFSA the net worth of the assets will be assessed at 5.64%, after an asset protection allowance. That amount is added to your EFC.

You can estimate your FAFSA EFC here, it’s important to enter complete and accurate info: Expected Family Contribution (EFC) Calculator – BigFuture

For Profile schools, run the NPCs. The degree to which schools assess the primary home and investment real estate varies, a lot. Some schools don’t assess primary home net worth, some do. Some hit investment real estate hard, up to 20%-25%. You just have to do the NPCs to see what your estimated COA us at each school.

If the real estate is considered a business, the impact to what your family is expected to pay can also vary from school to school. Follow directions closely for both the EFC estimator and NPCs, it’s a lot of detail.