How does being married affect the amount of money one can acquire from FAFSA/Financial Aid?
Barbie64 asked:
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My boyfriend and I are both very serious and are considering getting married. However we are both full-time students and don’t know how being married will affect the money we receive from FAFSA/Financial Aid.
We are currently dependents of our parents, live on campus and do not have any sort of income (We probably wont have an income once we’re married because we’ll still be full-time students).
Will getting married increase or decrease the amount of money we will receive from FAFSA/Financial Aid?
Filling Out the Fafsa Form That Comes With the Fincial Aid Package
Muna wa Wanjiru asked:
In every college there are ways that prospective students will be able to pay for their college education. The FAFSA financial aid is one of the better ways that you can get the help that you require. To receive this aid you should look to filling out the FAFSA form that comes with the aid package.
Prior to filling this form out you will need to read the package conditions and terms in full. Any details that you have difficulty with you should ask help in understanding. You may get this help from your schools’ counselor.
The FAFSA web site will provide the information you will need. In addition you will find many useful links. These links will let you see the documents that you will need to have when you are applying for financial aid on the FAFSA form.
You may find other financial packages which you feel will offer you better terms for financial aid. It is always best to look and compare these various packages thoroughly with that of the FAFSA application package.
When you are preparing to fill out the FAFSA form you should make sure that you have the various documents which are required by the FAFSA form. These documents are mainly used to determine your sincere need for financial aid. In the FAFSA form you will need an adult (mainly your parents or guardian) to read the section of the form that pertains to them.
You will be able to obtain a copy of the FAFSA form very easily. These forms are available in online and printed hardcopy format. You can get a copy of the form from any of these places. The financial aid office of just about any college or university will have these forms for you to take. Your high school should also have these FAFSA forms and any information you might require.
You can request to receive a FAFSA form when you call 1-800-4-FED-AID. These forms are also available at your local library as well. These are the locations where you will find the hardcopy (printed out) of the FAFSA form. The online version is available from their web site.
By using this method of applying for the FAFSA form you will receive some great benefits. These benefits include getting your student aid report quicker than the paper version. You will know if there are any errors in your application form. The final benefit that you can look forward to is that of helping the federal government save money.
Since all student loans have records kept of the money that you use you will need to have some way of re-paying for these loans. The FAFSA form will provide you with the information you need to see about re-paying your loan in a timely and efficient manner.
In every college there are ways that prospective students will be able to pay for their college education. The FAFSA financial aid is one of the better ways that you can get the help that you require. To receive this aid you should look to filling out the FAFSA form that comes with the aid package.
Prior to filling this form out you will need to read the package conditions and terms in full. Any details that you have difficulty with you should ask help in understanding. You may get this help from your schools’ counselor.
The FAFSA web site will provide the information you will need. In addition you will find many useful links. These links will let you see the documents that you will need to have when you are applying for financial aid on the FAFSA form.
You may find other financial packages which you feel will offer you better terms for financial aid. It is always best to look and compare these various packages thoroughly with that of the FAFSA application package.
When you are preparing to fill out the FAFSA form you should make sure that you have the various documents which are required by the FAFSA form. These documents are mainly used to determine your sincere need for financial aid. In the FAFSA form you will need an adult (mainly your parents or guardian) to read the section of the form that pertains to them.
You will be able to obtain a copy of the FAFSA form very easily. These forms are available in online and printed hardcopy format. You can get a copy of the form from any of these places. The financial aid office of just about any college or university will have these forms for you to take. Your high school should also have these FAFSA forms and any information you might require.
You can request to receive a FAFSA form when you call 1-800-4-FED-AID. These forms are also available at your local library as well. These are the locations where you will find the hardcopy (printed out) of the FAFSA form. The online version is available from their web site.
By using this method of applying for the FAFSA form you will receive some great benefits. These benefits include getting your student aid report quicker than the paper version. You will know if there are any errors in your application form. The final benefit that you can look forward to is that of helping the federal government save money.
Since all student loans have records kept of the money that you use you will need to have some way of re-paying for these loans. The FAFSA form will provide you with the information you need to see about re-paying your loan in a timely and efficient manner.
What exactly does the Expected Family Contribution mean on the FAFSA?
Chris asked:
I filled out the FAFSA and my EFC is $15,000, which is ridiculous because my Dad was laid off and has been on unemployment for 5 months, and Mom works as a manager at Target. School costs $9,500. Does that mean I am not eligible for any financial aid?
Does anyone know of any good scholarships? My GPA is really good, and I’m transferring as a junior with a major in Genetics and Cell Biology. I’m working as an intern, and I’ll only net about $4,000. ANY advice would be really appreciated.
I should also mention that my parents have told me there isn’t any money for me. No college fund for Chris. Anything I can get other than loans?
I filled out the FAFSA and my EFC is $15,000, which is ridiculous because my Dad was laid off and has been on unemployment for 5 months, and Mom works as a manager at Target. School costs $9,500. Does that mean I am not eligible for any financial aid?
Does anyone know of any good scholarships? My GPA is really good, and I’m transferring as a junior with a major in Genetics and Cell Biology. I’m working as an intern, and I’ll only net about $4,000. ANY advice would be really appreciated.
I should also mention that my parents have told me there isn’t any money for me. No college fund for Chris. Anything I can get other than loans?
The Conditions to Which you Must Meet to Get Fafsa Financial Aid
Muna wa Wanjiru asked:
College is generally the next step for young adults. While they may look at the different colleges and universities they have the ability of attending, there is another matter which needs to be thought of. This matter is that of paying for your entire college education. To help you out there are various avenues you can pursue. One such avenue is that of getting FAFSA financial aid.
This aid is one that will help you out but there are conditions to which you must be willing to adhere to. As you look at these details you should make sure that you understand the conditions. These conditions are also applicable to your future repayment. As this is an important aspect of the FAFSA financial aid program you will need to have all of this information.
Once you have this information including that of the repayment scheme it is time to take some time to reflect. Talk the information you have gotten over with others. These people will be able to advise you of any items that you might have forgotten to think about. Since this is very important you should take notes on the points you will need to have clarified.
Having obtained this information you will be able to see what part of your education is covered by the FAFSA financial aid. To augment this aid you may have to work but these decisions will come after you have signed and agreed to the financial aid. There are various ways that you can apply for the financial aid you need from FAFSA. One of the ways is to fill out their online FAFSA form. You could also look for a printed copy.
Read all of the conditions and terms which are given on the form. Also you will need to have someone else (your parents or guardian if you are 18 years) read the form too. This is important as the conditions which are listed in the FAFSA financial aid depend on the information that is provided by these individuals.
The FAFSA financial aid program is an excellent way to help with the costs of attending university. You will however need to apply for this aid every year that you require this aid. By applying for your student aid in a timely manner you can be sure that you will have a good chance of receiving the financial aid that can help you in the term to come.
There are many different ways that you can financial aid to help you with college or university. The FAFSA financial aid is a federal government approved of program. With the aid you will get from FAFSA you can start planning for your future.
College is generally the next step for young adults. While they may look at the different colleges and universities they have the ability of attending, there is another matter which needs to be thought of. This matter is that of paying for your entire college education. To help you out there are various avenues you can pursue. One such avenue is that of getting FAFSA financial aid.
This aid is one that will help you out but there are conditions to which you must be willing to adhere to. As you look at these details you should make sure that you understand the conditions. These conditions are also applicable to your future repayment. As this is an important aspect of the FAFSA financial aid program you will need to have all of this information.
Once you have this information including that of the repayment scheme it is time to take some time to reflect. Talk the information you have gotten over with others. These people will be able to advise you of any items that you might have forgotten to think about. Since this is very important you should take notes on the points you will need to have clarified.
Having obtained this information you will be able to see what part of your education is covered by the FAFSA financial aid. To augment this aid you may have to work but these decisions will come after you have signed and agreed to the financial aid. There are various ways that you can apply for the financial aid you need from FAFSA. One of the ways is to fill out their online FAFSA form. You could also look for a printed copy.
Read all of the conditions and terms which are given on the form. Also you will need to have someone else (your parents or guardian if you are 18 years) read the form too. This is important as the conditions which are listed in the FAFSA financial aid depend on the information that is provided by these individuals.
The FAFSA financial aid program is an excellent way to help with the costs of attending university. You will however need to apply for this aid every year that you require this aid. By applying for your student aid in a timely manner you can be sure that you will have a good chance of receiving the financial aid that can help you in the term to come.
There are many different ways that you can financial aid to help you with college or university. The FAFSA financial aid is a federal government approved of program. With the aid you will get from FAFSA you can start planning for your future.
Need More College Money Than your Fafsa Says you Can Have?
Matthew Kelly asked:
Federal Education Services, a federal student loan funding company, offers a Graduate PLUS Loan Program that extends directly to graduate and professional students the same benefits that traditional PLUS loans extend to the parents of undergraduate students. The Graduate PLUS loan is a federally sponsored student loan that offers generous borrowing limits. Graduate and professional student borrowers can cover the full cost of their graduate education (less any financial aid received), including tuition, room and board, books, supplies and even computers.
Graduate PLUS loans are offered at rates beginning as low as 8.5 percent and provide all the additional perks of PLUS loans but are issued directly to the graduate or professional student. Graduate PLUS loans are eligible for federal student loan consolidation, tax-deductible interest, flexible repayment options and the freedom of post-graduation loan repayment.
Federal Education Services offers benefits and incentives with its Graduate PLUS loans that help make it easier to attain the goals of a graduate degree. A 2 percent rate reduction is offered after student borrowers make their first 48 months of on-time consecutive payments. And when choosing repayment through Auto-Debit, student borrowers receive a .25 percent rate reduction.
To be eligible for a Graduate PLUS loan, students must be a U.S. citizen or an eligible noncitizen. Graduate PLUS loans offer several repayment options including deferred repayment while students are enrolled in school at least half time. There never are any prepayment penalties. Federal Education Services makes a graduate degree more available to student borrowers who wish to take their higher education to the next level.
Federal Education Services is a company that specializes in federal student loan consolidation, Stafford loan origination, PLUS and Graduate PLUS loan origination and as a resource for students with questions regarding educational financing. For any questions regarding this article please contact Federal Education Services. A friendly loan specialist can be reached at (877) 222-4727 or you can find us on the web at www.feded.net.
Federal Education Services, a federal student loan funding company, offers a Graduate PLUS Loan Program that extends directly to graduate and professional students the same benefits that traditional PLUS loans extend to the parents of undergraduate students. The Graduate PLUS loan is a federally sponsored student loan that offers generous borrowing limits. Graduate and professional student borrowers can cover the full cost of their graduate education (less any financial aid received), including tuition, room and board, books, supplies and even computers.
Graduate PLUS loans are offered at rates beginning as low as 8.5 percent and provide all the additional perks of PLUS loans but are issued directly to the graduate or professional student. Graduate PLUS loans are eligible for federal student loan consolidation, tax-deductible interest, flexible repayment options and the freedom of post-graduation loan repayment.
Federal Education Services offers benefits and incentives with its Graduate PLUS loans that help make it easier to attain the goals of a graduate degree. A 2 percent rate reduction is offered after student borrowers make their first 48 months of on-time consecutive payments. And when choosing repayment through Auto-Debit, student borrowers receive a .25 percent rate reduction.
To be eligible for a Graduate PLUS loan, students must be a U.S. citizen or an eligible noncitizen. Graduate PLUS loans offer several repayment options including deferred repayment while students are enrolled in school at least half time. There never are any prepayment penalties. Federal Education Services makes a graduate degree more available to student borrowers who wish to take their higher education to the next level.
Federal Education Services is a company that specializes in federal student loan consolidation, Stafford loan origination, PLUS and Graduate PLUS loan origination and as a resource for students with questions regarding educational financing. For any questions regarding this article please contact Federal Education Services. A friendly loan specialist can be reached at (877) 222-4727 or you can find us on the web at www.feded.net.
How Free is the FAFSA?
Bill Mccumber asked:
The first word on the Free Application for Federal Student Aid, the form all students must use to apply for federal financial aid programs, is “Free”. However, the FAFSA costs many families a lot of money in lost aid.
The FAFSA is a 128 question form that is used to determine a family’s eligibility for need-based financial aid and results in a number called the Estimated Family Contribution, or EFC. The U.S. Department of Education claims that the FAFSA takes one hour to complete. How complicated is the form? According to the Department of Education, approximately 80% of the forms submitted for processing are done incorrectly or are incomplete. After submission, families receive a Student Aid Report and are asked to confirm their answers and make corrections. Assuming the family notices errors or omissions and corrects these, the corrections are then resubmitted. Usually, each time the process goes from the family to the government back to the family one can expect a four to six week processing time. Federal financial aid is awarded on a first-come, first-served basis. Processing and correcting errors costs families money because there is less aid available the longer it takes to submit correct aid reports to the government, who then passes the information along to the colleges who distribute federal money in the form of loans and grants.
If the 128 question FAFSA takes one hour to complete, how does that compare to the much more familiar tax forms? Most families file either the 1040A or the 1040EZ for federal tax purposes. Form 1040EZ asks 37 questions; Form 1040A asks 83 questions. If we use U.S. Department of Education math, that means that the 1040EZ should take 17 minutes to complete and the 1040A should only take 39 minutes. The Internal Revenue Service, however, suggests that the forms take 8 and 13 hours to complete, respectively.
For lower income families the complexity of the financial aid process can be overwhelming as by and large there is little in the way of coaching or assistance for these families. The complexity, the timing – spring of senior year is too late to learn how much college will cost so as to ‘plan’ for college costs – and the increasing gap between aid awarded and actual need all prevent lower income students from getting a college degree.
Middle income families are suffering from a very large disconnect between what they see as their ability to pay and what the FAFSA formula determines they should be able to afford, even if the form is done correctly and on time. Many families either don’t bother to apply, given the confusion in the process, or do file the FAFSA and are shocked by their EFC. How, for example, is a family earning $75,000 per year supposed to pay $20,000 per year for college?
Many upper income families do not fill out the FAFSA because they just “know” they will not qualify for aid, setting aside the hassle factor. However, almost every family gets an offer of some kind of aid, even if it’s just a loan package, by going through the process.
The fact that many families of all income levels don’t apply because of the confusion, misinformation, and hassle of the forms and processes is unfortunate, and costs families many thousands of dollars per year in college costs and/or missed opportunities.
In a recent draft of a report by the U.S. Secretary of Education’s Commission on the Future of Higher Education, the commission notes that “The existing convoluted, complex and counterproductive financial aid system for students should be restructured and the current federal aid form (the Free Application for Federal Student Aid, or FAFSA) should be eliminated…” We couldn’t agree more, but don’t count on a massive overhaul anytime soon. While you wait for systemic change, be advised to start the financial aid process as early as possible. And remember to set aside more than an hour to fill out the (somewhat free) FAFSA.
The first word on the Free Application for Federal Student Aid, the form all students must use to apply for federal financial aid programs, is “Free”. However, the FAFSA costs many families a lot of money in lost aid.
The FAFSA is a 128 question form that is used to determine a family’s eligibility for need-based financial aid and results in a number called the Estimated Family Contribution, or EFC. The U.S. Department of Education claims that the FAFSA takes one hour to complete. How complicated is the form? According to the Department of Education, approximately 80% of the forms submitted for processing are done incorrectly or are incomplete. After submission, families receive a Student Aid Report and are asked to confirm their answers and make corrections. Assuming the family notices errors or omissions and corrects these, the corrections are then resubmitted. Usually, each time the process goes from the family to the government back to the family one can expect a four to six week processing time. Federal financial aid is awarded on a first-come, first-served basis. Processing and correcting errors costs families money because there is less aid available the longer it takes to submit correct aid reports to the government, who then passes the information along to the colleges who distribute federal money in the form of loans and grants.
If the 128 question FAFSA takes one hour to complete, how does that compare to the much more familiar tax forms? Most families file either the 1040A or the 1040EZ for federal tax purposes. Form 1040EZ asks 37 questions; Form 1040A asks 83 questions. If we use U.S. Department of Education math, that means that the 1040EZ should take 17 minutes to complete and the 1040A should only take 39 minutes. The Internal Revenue Service, however, suggests that the forms take 8 and 13 hours to complete, respectively.
For lower income families the complexity of the financial aid process can be overwhelming as by and large there is little in the way of coaching or assistance for these families. The complexity, the timing – spring of senior year is too late to learn how much college will cost so as to ‘plan’ for college costs – and the increasing gap between aid awarded and actual need all prevent lower income students from getting a college degree.
Middle income families are suffering from a very large disconnect between what they see as their ability to pay and what the FAFSA formula determines they should be able to afford, even if the form is done correctly and on time. Many families either don’t bother to apply, given the confusion in the process, or do file the FAFSA and are shocked by their EFC. How, for example, is a family earning $75,000 per year supposed to pay $20,000 per year for college?
Many upper income families do not fill out the FAFSA because they just “know” they will not qualify for aid, setting aside the hassle factor. However, almost every family gets an offer of some kind of aid, even if it’s just a loan package, by going through the process.
The fact that many families of all income levels don’t apply because of the confusion, misinformation, and hassle of the forms and processes is unfortunate, and costs families many thousands of dollars per year in college costs and/or missed opportunities.
In a recent draft of a report by the U.S. Secretary of Education’s Commission on the Future of Higher Education, the commission notes that “The existing convoluted, complex and counterproductive financial aid system for students should be restructured and the current federal aid form (the Free Application for Federal Student Aid, or FAFSA) should be eliminated…” We couldn’t agree more, but don’t count on a massive overhaul anytime soon. While you wait for systemic change, be advised to start the financial aid process as early as possible. And remember to set aside more than an hour to fill out the (somewhat free) FAFSA.
How do I reduce my EFC legitimately for FAFSA and CSS PROFILE?
Jesus Christ asked:
How do I reduce my EFC legitimately for FAFSA and CSS PROFILE? Can I reduce my EFC by not reporting certain savings and investiment assets that aren’t verifiable? If not, what other legitimate ways to fill out FAFSA and CSS PROFILE such that I get the lowest EFC?
Will shifting student’s savings and assets to parent’s savings and assets help reduce EFC?
How do I reduce my EFC legitimately for FAFSA and CSS PROFILE? Can I reduce my EFC by not reporting certain savings and investiment assets that aren’t verifiable? If not, what other legitimate ways to fill out FAFSA and CSS PROFILE such that I get the lowest EFC?
Will shifting student’s savings and assets to parent’s savings and assets help reduce EFC?
How does the FAFSA application process work?
jain1791 asked:
I have a question, I wanted to know how colleges receive my financial information. I know Fafsa gives you a spot to fill out the colleges, but I have applied to more than ten colleges and they only give you ten slots so how do I kno my other 3-5 colleges know about my financial aid. I also wanted to know if I have to fill out any seperate financial forms for colleges, or is it only FAFSA or are there other forms.
I have a question, I wanted to know how colleges receive my financial information. I know Fafsa gives you a spot to fill out the colleges, but I have applied to more than ten colleges and they only give you ten slots so how do I kno my other 3-5 colleges know about my financial aid. I also wanted to know if I have to fill out any seperate financial forms for colleges, or is it only FAFSA or are there other forms.