Huge EFC - Help!

[brantly]

@saniel

Hi, my D got an ED admission from top20 university.
Last week we received a Financial award letter and it took away our joy of celerbration. Total cost $81K and our family contribution is $76K. Yes, you heard it right.

This is out financial status.
Living in NJ.
Household income $160K
Home purchased $810K with 450K down payment.
Current value at Zillow $ 960K (not true, we purchased this house with poor conditions they require repairs and improvement.s But we never done any improvements, so the market value would be $ 830K I think)
529 for my D and 10th grade son $40K
Mutual fund $50K

We ran NPC on 10/30/2019 and they gave us $48K family contribution ( I input current home value at $820K as I mentioned above)

Now we are just shocked…
Have you seen anyone experienced case like us?? I am bringing $ 8K /mon after tax from my work. $76K/ year?? $6K per month??? How on earth can anyone do this?Is this something that we can appeal and get it adjusted?

Well, you should really start your own thread instead of hijacking the OP’s. Do you have a second home? Rental properties? Is the $160 total gross or AGI? What’s the university? What is the form of the $5k in financial aid – a loan or a grant?

If you input all the numbers correctly in the NPC and the CSS, then, yes, you should definitely appeal. All colleges have a formal appeals process. Be very, very polite. Ask why the actual award given differs from the NPC.