Why is my EFC so high?

thisisdann
Mon, 27 Apr 2020 21:18:46 +0000

twoinanddone:

Did your mother do a roll over of 401k account because of a job change? That is often a issue. If so, your FA officer has to make the correction.

Your making $10k is also an issue. It is above the limit (which is like $6500) so anything above that counts against you. If that $10k was still in your bank account when you filed the FAFSA, 20% will count against you.

The EFA does seem high. What has it been in past years and were there big income/asset changes since then? If no changes, take all your paperwork and contact the FA office and ask what is happening. You may find it is just a decimal point out of place when reporting assets.

Oh I see. It was only that year. I’ll check my mom with to see if that’s a possible issue. In the past years, it’s been 0, 0, 0 , and this past year 1509. I’ve tried talking to them, but they told me to check my FAFSA again and that I could make an appeal in July.