When filling out a fafsa? PLEASE ANSWER!?

Question

I accidentally put 1 exemption, instead of 3. This change did NOT change my EFC in any way, shouldn't it have brought down my estimated family contribution?

Answer 1

Exemptions are from your income tax return.  In general, the higher the number of exemptions you claim, the lower your income tax will be.  The FAFSA takes into account how much income tax you pay - the more you pay, the lower your Expected Family Contribution (although the difference will be minor.)

By claiming less exemptions than you should, you are generally getting a larger deduction for income taxes paid than you are entitled to in the FAFSA formula.  In your case, however, since the change in the number of exemptions didn't change your EFC, then it is likely that the number of exemptions isn't materially affecting the total amount of taxes you owed for 2007.

Answer 2

It's difficult to know their rationale sometimes when it comes to FAFSA.  Not sure when you submitted your paperwork, but I'm told that even that timeframe is important in terms of how much can be awarded.  It's difficult to separate fact from myth... even Financial Aid Offices have trouble sometimes.  Perhaps you still didn't have enough exemptions to warrant a change.