As many as 1/3 of college students don’t complete the FAFSA. There are a variety of reasons why not, ranging from fears about its complexity to the assumption that it’s not worth the time because the family is not eligible for aid and hundreds if not thousands of other reasons. The end result is that a lot of money is…
Browsing Category
CSS PROFILE
Once you’ve finished the income section of the FAFSA, you’re on the home stretch. What’s left? Assets. And once again, the form is deceptively simple: “As of today, what is the net worth of your parents’ investments, including real estate (not your parents’ home)?” OK, so not the home. But what does count?
Many people call themselves “financial advisors” when they should in fact be called sales people. A number of these types are active right now telling parents of high school juniors and seniors that they should buy annuities or life insurance to help themselves in the financial aid process. This “investment” is not as helpful as you might think.
Last week I appeared in an article in the New York Times’ personal finance section about whether saving for college is advantageous or disadvantageous with respect to receiving financial aid. Many people believe that college savings result in lower financial aid awards; it’s a logical assumption since
This week, President Obama signed an executive order that will dramatically simplify the financial aid process for many families. Beginning next October, for the 2017-2018 school year, families will be able to file the FAFSA using two years’ prior (“prior-prior year”) data. That means that