<p>If you two guardians make 100k gross salary each and you have a sibling not in college, is it safe to assume you will get 0 financial aid?</p>
<p>Thanks</p>
<p>Most definitely.</p>
<p>bummer =/</p>
<p>Run your numbers through a FAFSA calculator. Depending on the age of the older parent, total investments, and cost of attendance, you might be eligible for need-based aid when there are 2 in college. You won’t be eligible for Federal aid, but some colleges will give institutional aid based on your FAFSA EFC. The most generous colleges will give institutional aid based on using the Profile to college your income and asset information, so the FAFSA EFC is not the full story.</p>
<p>Plugging into the FAFSA calculator a $200K adjusted gross income plus $100K in assets, with 2 in college (will that happen?), gives each student an EFC of around $30K.</p>
<p>By guardians do you mean your parents? That makes a vast difference to the answer to your question. A legal guardian is not treated as a parent by FAFSA.</p>
<p>Not “most definitely”. Several reasons. Because I have an S corp my figures LOOK comparable to yours (but the money stays in the company, it’s a hot mess, this situation). I am single with one child and my EFC is NOT the full cost of private schools. I’m also hoping for special consideration for extremely high medical bills (cancer survivor/still undergoing expensive and not-covered treatment). So…do you have anything like that? (I pray not, but…just sayin’). Lastly, TOP schools are awarding aid to middle income. If those schools are on your list, you may still get some aid. Luck.</p>
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<p>Folks are correct in that IF you have a sibling in college WHILE you are in college, that can make a difference. This does not seem to be the case with the OP. </p>
<p>Run your numbers through an EFC calculator. See if what that estimates your EFC will be. With a $200K family income (assuming these guardians are you mom and dad and you live with BOTH of them)…you would not likely qualify for need based aid even at the most generous schools unless there is something about this income that is not typical.</p>
<p>swimcatsmom is correct - if you have legal guardians because your parents are deceased or gave up their parental rights then their income is of no consequence. You are eligible to file as an independent student.</p>
<p>EFC was $21000 with net income of 180k</p>
<p>That sounds extremely low for an income of $180k. I would expect more in the 40,000+ area. (Unless there are 2 in college).</p>
<p>^^^^^ I just ran an estimate on $180,0000 and got EFC over $45,000. So it really depends on your deductions and circumstances.</p>
<p>I can’t think of any deductions that would give a 21,000 FAFSA EFC with a $180k income. (other than more than 1 in college).</p>
<p>swimcatsmom is absolutely right and has tons of experience with this! :)</p>
<p>It’s more likely a typo by putting in 80,000</p>
<p>Yeah, I have NOTHING “extra” (savings, etc)…and my EFC is way way way higher than that (1 child in college though)</p>