What to do about a high EFC?

vballmom
Thu, 21 Feb 2008 23:12:51 +0000

Are you and your sister both seniors in high school this year? If so, there’s not a lot you can do to shift your savings around.

Are your college savings in your own names, are they in 529 accounts with you as the owner, or are they in parent-owned 529 accounts? This is one area where you have the possibility of shifting funds (legally) so that these savings are assessed at the parent rate of around 5% vs the student rate of 20%. There have been several threads on this topic, and you can also refer to the page on finaid.com:

[FinAid | Financial Aid Applications | Maximizing Your Aid Eligibility](http://www.finaid.org/fafsa/maximize.phtml)