Mine spit out a whopping $69k!!!!!!!!!!!!!!! WTF??!! Does the FAFSA not realize that we SPEND our wages from 2007 on things like, oh, rent, and food, and transportation? And that cost of living in my state is some of the highest in the country?
Does this mean I will be eligible for anything at all? My spouse will likely not even have a job next year when we move for school... yargh.
At a lot of the schools you've listed, you also need to fill out Need Access, which uses a different set of formulas to calcuate expected contributions. In addition, many of them probably have a seperate, insitution specific form to fill out. Schools will take all of this into account.
With that said, the FAFSA assumes that you will spend all savings and a portion of your income on school. You'll still be able to borrow unsubsidized stafford loans no matter what, which are still not as unreasonbly priced as some private loans. You can get, I think, $20500 a year in Stafford loans.
A low EFC qualifies you for subsidized stafford loans and (rarely) Perkin grants. Subsidized loans have the government pay your interest while you're in school, so you save some money that way.