FAFSA, 401k, and EFC?

Only the annual contribution to a 401K should be on the FAFSA, not the full value of the retirement account. I'd take a look at your numbers. Retirement funds are not considered liquid assets. However, if your parent took a payment in part or in full from a retirement account that IS income. If they rolled it to another account, it has to have been rolled over within the prescribed period to not be considered as income.

Did you declare your self to boot? because you cant the two declare you interior the comparable 3 hundred and sixty 5 days. you're able to contain their fee rate reductions and earnings counsel however in the event that they at the instant are not assisting with financing your preparation (even nevertheless in case you reside with them they're contributing lots for my area!) yet it truly is why you're able to contain their counsel no count number what: Independency and dependency is set by using the US branch of preparation and is no longer in line with the place you reside or while you're claimed on your determine’s tax return. For federal and state economic help, you're able to contain your determine’s earnings counsel till you turn 24 years old, get married, have a newborn or different based, are a U.S. veteran, grow to be an orphan, or are (or have been) a ward of the courtroom till the age of 18.

The best thing to do would be to talk to your schools financial aid office that way they can explain it better and clear the problem up then and there. Good luck!