Confused about EFC Number

mom2collegekids
Mon, 02 Oct 2017 15:53:25 +0000

It sounds like there are some assets or at least one asset with a value that is high enough to impact your EFC.

For instance, if your family owns some rental property that has value, you would include that as an asset. PLUS, you’d have to include the rent amount as income minus any related expenses.

So…for example

Rental house value $250k
Mortgage $50k
So the asset value is $200k

If the rent is $2000 per month, then that’s an additional income of $24,000 per year. Minus any related expenses such as property taxes on that property alone.