Most families leave thousands in financial aid on the table simply because they don't understand how the system scores them. Brian Eufinger and Sunwoo Lee break down how Expected Family Contribution (EFC) and Cost of Attendance (COA) determine eligibility, why asset structure matters more than you think, and which schools practice "gapping"—offering less aid than you actually need. Early planning and knowing the rules can transform college from a financial burden into a manageable investment. Understanding EFC and COA [00:04:20] EFC (Expected Family Contribution) measures how much a family can contribute toward college costs. COA (Cost of Attendance) includes tuition, fees, room, and board. The gap between these figures determines your financial aid eligibility. Navigating Gapping [00:08:48] Gapping occurs when a school provides less financial aid than a student's calculated need, leaving families to cover unexpected costs. Different Financial Aid Forms [00:14:19] FAFSA vs. CSS Profile: Different forms with varying complexities. Many private colleges use the CSS Profile to distribute their own funds, requiring more detailed financial information. 529 Plans vs. UTMA Accounts [00:32:47] 529 plans receive favorable treatment in FAFSA calculations compared to UTMA accounts. If you expect to qualify for aid, avoid putting money in your child's name. Scholarship Clawbacks [00:46:50] Some colleges reduce financial aid by the amount of scholarship money won. Check scholarship policies to avoid surprises. Hot Seat Questions [00:49:22] Sunwoo shares favorite resources, biggest financial mistakes, and advice for handling future financial decisions. Key Quotes "The early planner is rewarded." [00:48:06] "It's about knowing the rules." [00:02:16] "If you expect to qualify for aid, then having money in your kid's name is not optimal." [00:12:11] Resources FAFSA Forecaster Tool [00:04:20] College Board CSS Profile [00:18:03] 529 College Savings Plans [00:32:47] What is the EFC? The Expected Family Contribution (EFC) is calculated to determine how much a family can contribute to a student's college education. [00:03:01] Why fill out the FAFSA? Filling out the FAFSA opens opportunities for financial aid, even for families who believe they might not qualify. [00:15:23] What is 'gapping' in financial aid? Gapping is when a school provides less aid than the gap between a student's financial need and EFC, leaving families to cover the difference. [00:09:14] ▶ Listen Next: Ep. 158 — How to Calculate Your Real Hourly Wage | Essential Listening