Disadvantage of kid #1

cptofthehouse
Fri, 20 Apr 2012 17:24:05 +0000

Your assets are usually hit at 5.6%$. So if you had $100K in the bank for college, your expected contributions is about $5600 from that asset. If you spend $80K of that on the kids college, you will have $20K left, and that amount would be hit up to the tune of $1120, so yes, your EFC would decrease, but it was never that big of a factor and with gaps in need, you probably have to use more of the savings than the formulas say you must.