<p>Is that normal?</p>
<p>EFC is not based on income alone. Savings and assets are also considered. Do your parents have savings? Do they have any untaxed income?</p>
<p>Unfortunately, for your income the EFC is pretty on point as EFC is usually about 15-20%</p>
<p>they have quite a bit of savings (little over 100k). my stepdad’s the kind of guy that doesn’t buy anything for himself and just saves up. I was told that only about 5% of total savings is added to EFC, though.</p>
<p>Well, that 5% would take you from $6k to $11k . . . so that sounds about right.</p>
<p>Don’t you have some savings, too?</p>
<p>If I remember correctly, you’re the student from Alaska and your parents won’t pay the EFC (stepdad won’t pay, and mom works from him as an unpaid employee). Mom can give you a very small amount each year, but not close to the EFC. And, you plan on contributing as well. Is that right? Between you and your mom, how much can you contribute? </p>
<p>Also, the income from the Alaska oil dividend may have a harsher calculation since it isn’t earned income. the payout for each resident for 2012 was about $900. So your parents got about $1800 and you got $800. (I’m guessing that for future years, you’ll be able to use your share towards college, is that correct?)</p>