Law School Discussion

Another EFC question

Another EFC question
« on: January 09, 2006, 03:13:05 PM »
So based on the EFC calculator I found, I qualify under the simplified needs test because my income is below a certain level. Therefore, assets (bank accounts, homes, etc) are ignored. My question is, if this is true, could I theoretically own a $1M home and have another $1M in the bank and not be expected to use any of it to pay for tuition as long as I make less than a certain amount each year?   

Typhoon Longwang

  • ****
  • 719
  • I have the power to stop an LSAT!
    • View Profile
Re: Another EFC question
« Reply #1 on: January 12, 2006, 09:00:28 PM »
Fill out the FAFSA-do the real may have a bit of a surprise.  I suspect if you had an income of $0 but $1M in cash they would expect you to pay up.

You may want to do the Education Department's worksheet to see what the EFC will be: