<p>My income dropped between year 2 and 3 due to retirement, and resulted in a drop in our EFC of as well. I believe that Y does consider each year separately and offers FA accordingly. However, if you have substantial assets (over 200k including home equity), the % that you are likely to pay based on your income is increased, and they don’t publish the formula they use. Truthfully, I have no idea how they actually use the next year projections, as far as I can see, FA is only based on the last year’s information anyway, so why ask?</p>
<p>You might want to give Y a call with your concerns. Perhaps you can ask them to give you an estimated FA package based on everything being the same except the reduction in income. </p>
<p>I agree with you, that it’s scary to go int a 4 year plan without a good indication of how much FA will be offered, particularly when your D has the Regent’s at a great school.</p>