<p>Hi! I'm new to the forum and to college research. Generally, how much aid can we expect from FAFSA? We have 6 kids, total of 8 family members. The three oldest will be in college at the same time beginning in 2011. yikes! We are considering having a 7th child. LOL! No, not crazy, just love those babies! Will the addition increase our FAFSA or are the benefits capped at a certain number of mouths to feed? My husband makes 180K but every bit goes to food, mortgage and books. We homeschool (fun but expensive) and live on a farm. Any advice is greatly appreciated!!</p>
<p>I would repost in the Financial Aid forum, you will get more advise there.</p>
<p>Yes- but keep in mind that FAFSA takes into account primarily income- not expenses although there is an allowance for dependents- especially minors.
When income is say $180,000 with one earner- more is judged to be available than if it was split between two earners.
Most private schools also use PROFILE which identifies extra income as well as extra expenses than FAFSA.
( Mostly extra sources of assets/revenue)</p>
<p>FinAid</a>! Financial Aid, College Scholarships and Student Loans
has lots of info and calculators to assess EFC.
If attending a private school that meets 100% of need - need will be met through work study, loans and grants.
A public school is unlikely to give much aid but everyone is eligible for loans.</p>
<p>If your kids will be applying to school this fall- I wouldn't waste any time finding out how much your EFC would be, so that they have a good idea of what schools to look at.
First of course, you and your husband would have to identify how much you could spare through income, savings and loans to pay for their education- ;)</p>