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The new Simplified FAFSA is here! Here’s a quick video with some tips that will help you get through it with a minimum of chaos and maximum of financial aid. 🔗
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FAFSA Income
While it’s true that there is an income protection allowance on the FAFSA, it’s extremely low– roughly the federal poverty line for a family of your size. The bigger issue is what is included in income and what is subtracted from it to arrive at “Available Income.”
CSS/PROFILE Question SR 160A
Perhaps the #1 most-frequently-asked question about the CSS/PROFILE is “How am I supposed to answer question 160A?” (“Enter the amount your parents think they will be able to pay for your 2017-18 college expenses.”) It’s a trap, right?
Why file the FAFSA
As many as 33% of college students don’t fill out the FAFSA. Yes, it’s tedious and time consuming, but it’s worth the effort as not doing so eliminates your ability to access financial aid and even demonstrate to schools that you’re able to pay. Need more reasons then read on…
Me Time
Most of my friends know that I advise people on college, so they often ask me what they should be doing with respect to their own kids’ educations. One of the more astute ones asks what I am doing with my own kids in terms of their college plans. Knowing that Jon will ask that periodically gets me to schedule an “eat my own cooking” date with my kids from time to time.
About Those Application Questions
Link to a helpful article by a UC Berkeley application reader.
FAFSA Income Protection Allowance
FAFSA does have a minimal income protection allowance. For parents, it tracks the federal poverty line fairly closely but has an additional variable of number attending college. For students, it’s a flat $6,420.
Student Income and Assets on the FAFSA
Breakdown of two key components of the FAFSA: Student Income and Assets and how they impact your estimated family contribution (EFC).
Mandatory Retirement Plan Contributions on the FAFSA
Mandatory retirement plan contributions are treated differently on the FAFSA. Learn more in this post.
How do you Reduce Assets on the FAFSA?
The FAFSA’s asset protection allowance is pretty low– about $19,000 for married parents or $11,000 for single parents, and zero for students. (See page 19 here for exact amounts.) What goes in that?
2016 SAT Results
The College Board just released the class of 2016’s results and generally the class of 2016 did worse on the SAT than did the class of 2015.
Athletes, Grades and Scholarships
As summer club sports season transitions to fall high school sports season, so too does the talk turn to athletic scholarships. Here’s a little known fact: Other than football and basketball, many– perhaps more– student athletes attend college on academic scholarships rather than athletic ones. So even the most successful athletes should make school their focus.