I completed the 2022-2023 FAFSA applications for my 2 daughters currently enrolled in college and the EFC is drastically different for each of them and I can’t wrap my head around why. I called FAFSA and they are of no help. My oldest who is currently a Junior got an EFC of $925. My younger daughter who is currently a Freshman got an EFC of $5428!!!???
I am not new at completing these so I can’t fathom why there would be such a big difference especially when my older daughter has more money in her checking/savings accounts.
I used the IRS import tool on both of their applications so there shouldn’t be an error there. I have gone back and reviewed both of their applications and can’t find any error I could have made.
The ONLY difference is that my younger daughter did make $1400 more than my oldest in 2020.
I have reached out to the school and unfortunately, they won’t be able to access the application on their end until next semester. They are telling me not to worry but it’s really bothering me.
My income did go up from the last FAFSA as well but not significantly and it should affect both of them, not just one.
Has anyone heard of such a big difference?? Any ideas, suggestions, help or guidance anyone could provide would be greatly appreciated. I know I’ve got time to get this figured out but I’m an overthinker and this is stressing me out as the difference has significantly reduced the projected amount of aid my younger daughter will receive, both her Pell Grant and Stafford loan.
Thank you to anybody who can offer some advice!!!