The first step in lowering your EFC is to determine whether or not it’s worth doing. How to do that? Determine if you’re a need-based aid candidate at any of the schools you are serious about. You can use the FAFSA 4caster to estimate your EFC; just remember to add back any retirement plan contributions to your income or you’ll…
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FAFSA
Please avoid these two FAFSA mistakes at all costs: Don’t put “Student” info in the “Parent” section or vice versa. Each gets different treatment. When you file online, the Parent financial information comes first, after the student demographics. The Student financial information is last. Don’t brag. The FAFSA is the one piece of the college application process where you get…
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?
Divorce is one of the biggest question areas with the FAFSA. This may be because the FAFSA presents it so simply: it just asks the parents’ marital status; if “Divorced or separated” is chosen, it asks which parent’s information is going to be used. You have to read the fine print to figure out whose info the Department of Education thinks should…
This is one of those things that seems fairly straightforward but has a definite peeling the onion feel to it. What is Income for purpose of the FAFSA? First, you’ll need 2 documents to complete the income section: