FAFSA EFC

Something isn’t right. Did your brother do his 2020-2021 FAFSA too? What did he get? You say he did his FAFSA and LAST year got $1000. Is he still going to be in college for the 2020-2021 academic year?

If so…are you sure you indicated two in college?

Did your parents do a retirement account rollover in 2018? If they did, then this has to be indicated properly on the FAFSA or it’s counted as income.

Did you enter asset information correctly? No extra zeros, and decimal points in the right place. By any chance did you put parent income or assets in the student section by mistake?

Are you sure you indicated two would be in college?

Do your parents contribute to a tax deferred retirement account? If so, that amount gets added back in as income for EFC calculation purposes.

Print out your FAFSA. Go line by line and check each item for accuracy. Since you used the IRS DRT, you won’t be able to do this for things transferred from the tax form. But check every other number for accuracy.

And ask your parents if they did a TSA or IRS rollover in 2018.