Cash, Savings & Checking don't affect your EFC?

[edge of desire]

I just wanted to double check a few things and make sure I"m understanding things correctly. I read the sticky's above and some documents on the FAFSA website about EFC.

I'm pretty sure I"m an independent student. I'm unmarried and have no dependents. I have a job/make my own money. My parents have already said they won't be contributing to my medical school costs.

I've read on this site that in my situation, I don't *have* to include my parent's tax and income info (so I won't) unless a school specifically requests that I include it (which some will...and in that case, I will tell them that my parents are unwilling to give money?)

I know that after Jan 2012, I can start filing a FAFSA with my last year's tax info. I'm pretty sure I qualify for the "simplified" EFC worksheet for an independent w/o dependents (i make less than 42K and I filed a 1040Ez).

It says in the EFC formula handbook that: "An independent student without dependents other than a spouse is not eligible for an automatic zero EFC." This implies to me that I have to contribute money from which I've made at my job. However, on the "simplified" sheet (page 23 of the pdf), the worksheet has black boxes/won't let you fill out any info on "Cash, savings & checking," basically your assets. It only lets you put in info on your income, taxed and adjusted Gross income, etc. This doesnt make sense to me...if I have $0 in the bank or if i have $1 million in the bank, how can the EFC come out the same?

thanks in advance guys and gals!

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[edge of desire]

also wanted to make sure...i just got my first credit card ever so i have like no credit. since i'm entering med school hopefully in fall 2012, that won't affect my chances of getting a loan (federal or private) or financial aid from schools right? cuz getting loans isn't based on your credit? (i read that on another thread). trying to just understand the basics here...