How do I decrease my EFC?

swimcatsmom
Thu, 29 Jul 2010 15:56:15 +0000

The effect is 0. You have a certain amount of asset protection built into the EFC formula - much more than $7,000 - so $7,000 in savings does not increase your EFC at all.

Having more than one in school will decrease each student’s FAFSA EFC as the part of the EFC generated by parent income and assets is divided equally between the number of students in college at the same time. Whether this will translate into more aid will depend on the school’s policies and the EFC.