With $150,000 income (moms including $20,000 of 401 K as an example)…as an estimate the FAFSA EFC will be more than near $40,000 a year. Maybe even $50,000 depending on assets.
This is either a 2 or three person household with only one in college, right?
This is MY guesstimate.
@happymomof1 could you please post the FAFSA formula so this parent can hand calculate.
So your chance of getting need based aid? That depends on the college and it’s aid awarding policies…and the cost.
If the college is $40,000 a year or less, and isn’t Yale or Harvard or similar, your chances of getting need based aid are low, in my opinion.