super6 wrote:I have a lower EFC than you (I think it was between 6 and 7k) but more money in savings which leads me to believe that, if you submit parents' info, it has an effect. My income was only 16k, however, so you might have more income which would increase your EFC. Only my dad works and he had surgery to remove cancer and then surgery on both of his knees last year which substantially reduced my family's income so that helped with FAFSA, I think.
See that's what I don't understand. I'm listed as an independent (because I am), and yes I make a decent amount of money now, but that will disappear once I leave my job. Can anyone confirm if current salary really plays a role? Shouldn't it just be savings?
Edit: decent for someone who is only a few years out of school (we aren't talkin 6 figures or anything).
Your EFC is based on previous year's income and assets. So for the 2011-12 school year it will be based on your earnings in 2010, for the following school year (our 2L) it will be based on earnings in 2011, etc. So your EFC can and probably will change depending on if you get a high paying summer job or do public interest etc.
Also, financial aid office told me that they won't know about grants until sometime in the late spring/summer, but count on not getting anything, if they get money from the state budget they will disperse it according to need. They wanted to give out financial aid offers without grants so that students can decide about attending before the deadlines (even though it doesn't include any possible grants).
Prophet - for someone making roughly 22k/year the EFC is around 3,800 ; 32k/year around 7,500 according to my experiences.