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Submit FAFSA/CSS with a high EFC?

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I ran the numbers on the college board website and it looks like our EFC is around $60K :( Should we even bother submitting FAFSA/CSS? Tuition/room/board are $38K at the college D has been admitted to (and wants to attend). We haven't heard about any merit offers (yet). I don't know if they are forthcoming, or how we can find out whether or not she will be getting any merit. There was nothing in the acceptance letter. We do have a second D who will enter college in 2 years. She may be looking at pricier colleges, so what would happen with the EFC and whether we would qualify for aid? Thanks!

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