Situation: S22 is applying for colleges, some of which are safe/match OOS schools he really wants to attend. His parents (his mother and I) are divorced. His mother is the custodial parent, is self-employed, and has managed to (legally and ethically) structure her finances such that her AGI is very low. It’s producing a very low EFC when S22 fills out the FAFSA.
Question: Would submitting a FAFSA application with a very low EFC hurt a student’s admission chances to a school they would otherwise easily qualify for? Will the OOS school think, “Hmm, this kid is qualified and wants to go here, but with that extremely low EFC we’ll have to give him a tremendous amount of financial aid for him to be able to attend, so let’s pass.”
Maybe I’m worrying unnecessarily, but I am worrying about it. I have saved money for college and would be able to cash-flow for most of the OOS school expenses. Certainly we’d like to pay less if we’re able to, but there is in fact money that the schools won’t see, since my information is not on the FAFSA forms.
Thanks for any help!