Dependent or Independent?

hsmomstef
Fri, 16 Feb 2007 21:47:15 +0000

yes – a lower EFC means that your family is expected to pay less. For instance, someone with an EFC of $5,000 will be expected to contribute at least that to pay for college expenses. (schools that gap will cost more – and most packages include loans and work-study, which is also money/work you are paying, just at a later time).

However – that does not apply to you. The only way that your EFC will be lowered is if your parents have had a significant change in income and/or assets. You are a dependent according to FAFSA (the requirements to be independent are: over age 24, military service, married, have a child you suppport or an orphan).

so – for your family, the EFC will remain approximately the same for the family. the EFC your sister has this year will be divided by the number of students in college (with some variation depending on assets and income in the students name).

Does that help? I know what you want to hear is that there is some magic way to get more money to go to college – but everyone is looking for that!