Does high % of income deferral effect EFC under CSS/ PROFILE

parentsofsboys
Fri, 30 Nov 2018 15:23:21 +0000

Hi thumper1: Thanks for sharing helpful perspective and suggestions. Yes, that is the new direction where we are headed - after taking onto consideration suggestions made here we are building up enough savings to fund up to $30,000/ year tuition (through accrued savings and annual income savings as we go). This will require us to reduce income deferments starting next year - 1st base year - although we are going to continue HSA deferrals going forward for the tax savings since we have 12-years of unreimbursed medical expenses since we opend an HSA that we could reimburse to effectively free up cash flow during college years - since as we are learning on another thread qualified HSA distributions do not effect EFC.

Hi bgbg4us: I have looked at the Mr. Money Mustache and agree with much of what is discussed there. We are also maximizers, and live simply - not so frugal as might appear since we have been living off an ever diminishing level of previous years savings to enable such high % of income deferral. Our in-state tuition fits into our current budget.