Why is my EFC so high?

twoinanddone
Mon, 27 Apr 2020 04:03:01 +0000

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.