Every year, a large percentage of the eligible population fails to file a FAFSA: the Department of Education estimates 40% of high school seniors do not file it and 25% of college students do not renew their FAFSA. And yet, there are plenty of compelling reasons to do so. The obvious one is access to financial aid. Here are some other reasons: Continue reading Why File the FAFSA?
More and more schools report filling substantial portions of their freshman classes through early decision or early action, and it’s not uncommon to hear of higher acceptance rates of early decision/early admission candidates than regular decision. But does that mean you should do it? Maybe, maybe not. Continue reading Early Admission/Early Decision
Apologies for my recent absentee-ism. Between our (hopefully) last college visit and my nephew’s wedding, it’s been a busy couple of weeks here!
Our hopefully last college visit was with both kids at our in-state flagship school. My son loved it; it’s where he was already intending to go and the visit really confirmed that, as well as increasing his excitement about being there next fall. Looking at it from his perspective, the visit increased my happiness about the circus-free nature of attending Continue reading Honors Colleges, Dual Enrollment and Majors
Special circumstances refers to anything in the applicant’s financial situation that is not reflected on the FAFSA or CSS Profile. The Profile has an actual space for applicants to detail special circumstances. For FAFSA schools, applicants may have to appeal their aid award and go through the Professional Judgment (PJ) process. If this might apply to you, you should understand the decision-making criteria and process so that special circumstances you’re detailing are in fact special circumstances in the financial aid world. Continue reading Special Circumstances
Taking a break from the FAFSA… The PSAT is coming this week. I highly recommend that all sophomores and juniors take it. Why? Because standardized tests are quite possibly the best source of merit aid around, so the more practice you get, the more prepared you are likely to be when the real tests come around. Continue reading PSAT
This is a big topic so for today I’m going to focus on general rules. Keep in mind the FAFSA rules are different from the CSS Profile rules; below is FAFSA only.
The custodial parent for the FAFSA can be different than the custodial parent in the divorce decree and/or different from who claims the student as a dependent on their tax return. The FAFSA defines the custodial parent as “The parent that you lived with most Continue reading FAFSA for Divorced Parents
I get a lot of good questions sent via comments or email and thought they might be of interest to others besides just the person who asked. So here goes: Continue reading FAFSA Questions
529s are a source of a bit of confusion when it comes to filling out the FAFSA. Here are some common issues:
529s for multiple children: All of the parents’ 529s get reported on the FAFSA as parent assets. Let’s say you have 3 children, ages 17 (the one whose FAFSA you’re completing), 15, and 12, and you have a 529 account for each with balances of $12,000, $10,000 and $7,000. You would report $29,000 in 529 assets. Continue reading 529s and the FAFSA
It’s here but…