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FAFSA

EFC vs Net Cost

Families of college-bound students are always looking for strategies to manage their Expected Family Contribution, and I’m happy to oblige. However, lowering your EFC is no guarantee of getting financial aid. And that’s why net cost is important. Your EFC is what the federal needs analysis methodology says is the amount you can spend on college. You can estimate it…

Podcast: All About the FAFSA

I had a great time talking college applications, financial aid and scholarships on the 52 Pearls Weekly Money Wisdom podcast. Listen and learn here. 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 to…

Unemployment on the FAFSA

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…

How to Complete the FAFSA

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…

My College Financial Plan Masterclass has moved to my new website HowToPayForCollege.com
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