Gentlemen, start your engines and all that. The 2016-2017 FAFSA is here. Several important things: The FAFSA is free. “Free” is what the first “F” in FAFSA stands for. If it asks for money, you’re on the wrong
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Shocking but true: 2016 is nearly here. That means many people will be filling out the FAFSA for the first time in just a few weeks. The FAFSA itself will be available on January 1. If you would like to prepare before filling it out, the FAFSA on the Web Worksheet is available now. Although the worksheet
The FAFSA 4caster is a good tool for estimating your EFC but it’s important to understand its limitations. The big one is this: it only asks for one piece of your income, your AGI. The FAFSA itself requires you to add back some big ticket items that are not included in your AGI.
Many people call themselves “financial advisors” when they should in fact be called sales people. A number of these types are active right now telling parents of high school juniors and seniors that they should buy annuities or life insurance to help themselves in the financial aid process. This “investment” is not as helpful as you might think.
While the federal government is the largest provider of financial aid, states also provide aid. There’s a big difference, too: Most federal aid comes in the form of loans, whereas a new study from NASSGAP (National Association of State Student Grant and Aid Programs) shows that over 90% of aid provided by states comes in the form of grants.