@twogirls, is this really true? In my head, I had the following rule of thumb that I read somewhere - assuming no assets, your EFC would be something less than around 48% of take home income. The higher the income, the closer it gets to 48%. I’ll see if I can find the link.
There is a very big assumption in there, which is “no assets”, but let’s assume that’s the case.
Let’s assume a family makes 100K gross. I’m winging it here, but let’s say they bring home 75K of that. Based on my rule of thumb, their EFC would be no higher than around 36K, and probably lower than that.
I realize that most schools don’t meet full need without loans, but I would think a student from a home like this would get a good amount of aid from most schools. I have no personal experience with this, though. It’s just from reading about it.
Am I missing something? What do you think the EFC would be for a family with a 100K income? I’m not saying you’re wrong. I’m just trying to understand why our assumptions are so different.