estimating FAFSA on your own

ClassOf21inIowa
Fri, 09 Oct 2020 15:42:54 +0000

I’m not the type to just trust the computers running the formula, so I did the FAFSA Formula A worksheet myself, so that I can compare it to the EFC we get when we submit FAFSA online this weekend (after we figure out which 10 schools to list)

Does it sound reasonably correct that for a family of 4 with only 1 student in college, and an Adjusted Gross Income of $155,000, that the expected EFC portion due to just our AGI will be about $35,500 (23% of our AGI)? Of course, assets and our child’s assets will add to that.

Thanks, just curious if that’s in the ballpark