Let’s assume that this year’s FAFSA is going to come out on Oct. 1 as scheduled. If you’re filing it this year, now is a great time to get a handle on it. I’ll provide additional details on more complicated assets in subsequent posts. What is and isn’t an asset on the FAFSA? Here’s a quick “is it or isn’t…
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Let’s assume that this year’s FAFSA is going to come out on Oct. 1 as scheduled. If you’re filing it this year, now is a great time to get a handle on it. I’ll provide additional details on more complicated assets in subsequent posts. What is and isn’t an asset on the FAFSA? Here’s a quick “is it or isn’t…
Last week, the Department of Education announced further delays in FAFSA processing: colleges will not receive applicants’ FAFSA submission data until March. This means students are unlikely to receive financial aid offers until April. Traditionally, colleges have required students to accept admission by May 1, which would mean a very short timeline for decision-making. A handful of colleges have already…
529 college savings accounts have loads of well-publicized benefits: tax-free growth and distributions for qualified expenses, state tax benefits for contributions, gifting pages, and much more. But the unsung benefit of 529s is their preferential treatment in financial aid formulas. How is that? First, the new simplified FAFSA only has you report the student’s 529 balance as an asset, not…
Today is the big day: the new FAFSA is here. If you’re going to file it, here’s a quick video with some tactics you can employ to reduce your Student Aid Index and potentially get lots more financial aid. It’s not necessary to file the FAFSA right away– especially not this year. This year, FAFSA submissions will not be forwarded…