so if you have two and you are making 100k, then the efc for each child is (1m*0.05+100k*0.3)/2=40k. Depending where they go, you might be elegible to some FA.
Financial Aid = cost of attendance (COA) - expected family contribution (EFC)
COA is published by every school, it includes tuition + books + food + lodging. Even tuition is only $20K, the other cost could easily be 30K so let's say your cost of attendance is $50K.
EFC = parent's income x 47% (roughly for highest level of income) + parent's asset x 5.64% + student income x 50% + student asset x 20%.
1. Lower income might have percentages between 22% to 47% for EFC, I am just using the highest for simplicity.
2. For your EFC calculation, parent's income is after-tax,
In your case,
let's say your after tax income is $300K. Your asset is 1 mil, let's say student has no income or asset.
上周五注册了账号填了FAFSA,有一项问有没有2022税表有schedule E 出租房，净值多少，我答了YEs, 估了个0.5 米净值，在加上短期国债里有0.5m, 这种情况是不是即使两个孩子，一个今年一个明年上大学，也拿不到任何资助？如果这样，明年就不填了，这些信息把家底儿个人信息全暴露了。
还在等待批准中。
Assets count for much less than income. Only 5.64% of your assets is considered available for EFC.
如果一份美国收入我的W2，再加上队友的中国收入在联合税表上显示超过0.5m,还有希望吗？三个independents.
so if you have two and you are making 100k, then the efc for each child is (1m*0.05+100k*0.3)/2=40k. Depending where they go, you might be elegible to some FA.
Financial Aid = cost of attendance (COA) - expected family contribution (EFC)
COA is published by every school, it includes tuition + books + food + lodging. Even tuition is only $20K, the other cost could easily be 30K so let's say your cost of attendance is $50K.
EFC = parent's income x 47% (roughly for highest level of income) + parent's asset x 5.64% + student income x 50% + student asset x 20%.
1. Lower income might have percentages between 22% to 47% for EFC, I am just using the highest for simplicity.
2. For your EFC calculation, parent's income is after-tax,
In your case,
let's say your after tax income is $300K. Your asset is 1 mil, let's say student has no income or asset.
your EFC = 300K * 47% + 1000K * 5.64 = 134K + 56K = 190K.
If you have three kids, you have COA of 50K x 3 = 150K.
You will have no financial aid.