Is an EFC of 23,000 high?

Paying for College
1

<p>I’ve completed my financial aid form, and my dad made some corrections (my EFC was around this before they updated it). I haven’t gotten much aid from my schools.</p>

<p>My dad is unemployed, and my mom works at a hospital. We don’t have any large sum of money stowed away anywhere. My grandma was a dependant on us for the past 4 years. I have a job, but I’m only able to work 5 hours a week due to other school related commitments.</p>

<p>Does this explain why my EFC is so high (if it is in fact high?)</p>

<p>Thanks</p>

2

<p>EFC sounds very high…
Especially if your dad is a displaced worker…
Did you check that box?</p>

3

<p>EFC is based mainly on income and partially on assets. For your EFC to be 23,000 I would expect income to be fairly high - $90,000+ range. Your income would have an impact if it is over the student protected income allowance of $4500.</p>

4

<p>I can’t remember, but my dad looked it over before we submitted it, so I’m assuming he did. I’m going to look it over again to see if there are any mistakes or something… I just can’t imagine my expected contribution to be 23k…</p>

<p>Our income (mainly mother) is roughly 75k per year.</p>

5

<p>Checking the dislocated worker only makes a difference if the income is low enough to qualify for the simplified needs test (requires AGI <$50k) or the automatic 0 EFC (AGI <$30k). If AGI is above $50k checking the displaced worker box will make no difference.</p>

6

<p>23K in EFC with 75K in income with 4 family members sounds high. Recheck the numbers, and make sure that the household size info is correct.</p>

7

<p>23,000 seems very high for an AGI of $75k (it is the AGI that is important, not the after tax income) with little or no assets.</p>

8

<p>Your mom may earn $75k, but what did your dad earn last year? Did he receive a severance when he lost his job (or some kind of lump sum payment of unused vacation, etc)? Did he receive unemployment benefits? If so, then your **2009 **income wasn’t just based on your mom’s salary. Your EFC is based on your entire 2009 income…mom’s, dad’s (when did he become unemployed??), and unemployment benefits, etc.</p>

<p>And, if your grandma received social security benefits, I don’t think you can claim her.</p>

<p>Since it doesn’t sound like your dad is surprised by the EFC, then perhaps the family income was higher than you think.</p>