<p>purpleacorn - I didn’t mean to imply that EFC is solely determined by AGI - just that it’s the main driver in determining need and for those looking for a general rule-of-thumb, with "normal"assets, it typically comes out at 25-35% of AGI. In the financial formulas the schools calculate what is called and “Adjusted Available Income” which takes into account many other things, like in-year retirement contributions, business losses, etc. So, when you look at Duke’s wording - “family income”, doesn’t necessarily mean AGI and yours was probably bumped up due to some of these other factors. SBR is right that Duke, like most meets-full-need schools, will build your aid package first with loans and work-study, and then fill in the remaining need with grant aid. Also, unlike the Stafford loan limits, there is not a strict “federal limit” on how much work study they will award a student. Each school is given a pot of money for federal work study and they allocate it as they deem appropriate. For most schools it’s between $1500-$3000 per student per year for those students getting need-based aid.</p>