It’s time to fill out the FAFSA, Aaaarg!

December 31, 2010
Have you heard of parents who just hate the FAFSA and out of frustration they end up giving up. There is hope!

Have you heard of parents who just hate the FAFSA and out of frustration they end up giving up.

One couple came into my office about a month back and they wanted to know what they did wrong because their EFC was over exaggerated by over $100,000. With an EFC (expected family contribution) over a $100k, this means this family will not get any type of need based scholarships.

Now here’s the stats on this family, they make $98,000 in AGI, have some assets, have over $300k in a 401k and were one of the few people who had equity in their home. When I reviewed their SAR (student aid report) I found a few blatant errors. After correcting these their EFC was reduced to a manageable level and they qualified for need based aid.

Now there is a new source that can help families not make mistakes that could potentially cost them thousands of dollars of aid. The updated website.

This website has videos, PDF documents and line by line instructions on how to fill out these critical forms without making huge mistakes and how to fill it out so that you qualify for the most aid possible!

One of the many tips is to make sure that you are on the correct website fafsa.gov or fafsa.ed.gov. Do not go to any .com or.edu or .org website to file the fafsa!

 

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