Generally the FAFSA does not count untaxed social benefits as income. Untaxed Social Security, SSI, foster care benefits and welfare payments are excluded from income for the FAFSA, although disability payments and worker’s comp– which are insurance benefits– are added back. Normally unemployment income is taxable so this exclusion would not apply. However, the American Rescue Plan made 2020 unemployment…
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If you’re going to do the FAFSA this fall, this video has instructions for how to do it and what to do before you file. Want to put this to work for you? Sign up for The College Financial Plan masterclass. You’ll develop a detailed financial plan for college, learn strategies to maximize financial aid and merit scholarships, find out how…
I think Oregon is one of the last places in the US that starts school after Labor Day so my apologies if you’re no longer in back-to-school mode. By the way, did anyone else actually enjoy being stuck in school traffic like I did this year? Here are some resolutions your family might make for the coming school year. And,…
I had a great time talking financial aid and FAFSA strategies on the Hack Your Wealth podcast this week. Check it out here. Want to put this info to work for you? Sign up for The College Financial Plan masterclass. You’ll develop a detailed financial plan for college, learn strategies to maximize financial aid and merit scholarships, find out how…
The FAFSA itself won’t be available until Oct. 1, but in the meantime you can download the EFC Formula Guide to see how the sausage gets made. If you are a parent of a high school senior who will be completing the FAFSA this fall for whom the cost of college is important, here is a suggestion for how to…