<p><a href=“Your Guide for College Financial Aid - Finaid”>Your Guide for College Financial Aid - Finaid;
<p>This explains the simplified needs test. The question is…will everyone in the family be eligible to file a 1040A or 1040 EZ tax form? </p>
<p>U of Houston does not meet full need. What your $40,000 savings will do is add $8000 to your EFC. There will also be additional EFC addition due to your income. </p>
<p>There is a net price calculator on the U of Houston website. Put your family financials in there and see what happens. Try it with the $40,000 in the bank, then try it with less in the bank. See what the difference is.</p>