More FAFSA updates, with news on availability and 529s. Last week, the Department of Education finally announced when the FAFSA will be available: Dec. 31. There’s a twist, though: while the update says that “Students and families will be able to complete and submit FAFSA forms online by Dec. 31” it also says, “Schools will begin receiving aid eligibility information…
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Any time things change, some people benefit and others are worse off. This is also true of FAFSA Simplification. While many of the formula changes benefit large swaths of the population– such as removing 401k contributions from income or changing child support from income to an asset– other are less advantageous. Two big ones are eliminating the sibling discount and…
I write a lot about the FAFSA, but there’s a second financial aid form that’s also important: the CSS Profile. While all schools use the FAFSA to allocate federal funds such as Direct Student Loans, a subset of schools– primarily private schools– use the CSS Profile in their financial aid calculations. There are a number key differences between the two forms: Prior…
Part 2: The Whole Family Family members beside the student can have an impact on EFC or SAI, and how they impact the student will change with FAFSA Simplification. Here are two key areas where your family’s impact on your FAFSA will change. Multiple Students Up until this year, the FAFSA has divided the student’s Expected Family Contribution by the…
Part 1: Timing and Income Last week the Department of Education announced that this year’s FAFSA will come out in December, not October. We now have some additional information about FAFSA Simplification and what’s in store, so let’s dig in! December? Yes, this year the FAFSA will be released in December, not October. That’s to accommodate the myriad changes that…