Filling out the FAFSA ...

[mysterytramp]

Just completed my first FAFSA (I don't think it existed 30 years ago when I went to college).

Strange how it drills down into Mom and Dad's income but doesn't ask a single question about their expenses. True enough, people can make themselves poor on paper by carrying too much debt, but it seems that this way can have its own scams, too ...

Not that I'm looking for tips on committing fraud, but I was wondering if anyone had any tips to improve your position LEGALLY going into the FAFSA process. It seems that cash would be a bad thing, so pay off anything you can ... car loans, credit cards, etc.

Anything else? Is there a financial aid calculator somewhere?

mt

 

[callmemike20]

Just completed my first FAFSA (I don't think it existed 30 years ago when I went to college).

Strange how it drills down into Mom and Dad's income but doesn't ask a single question about their expenses. True enough, people can make themselves poor on paper by carrying too much debt, but it seems that this way can have its own scams, too ...

Not that I'm looking for tips on committing fraud, but I was wondering if anyone had any tips to improve your position LEGALLY going into the FAFSA process. It seems that cash would be a bad thing, so pay off anything you can ... car loans, credit cards, etc.

Anything else? Is there a financial aid calculator somewhere?

mt

Are you doing this for your child?

Definitely say you are willing to do a work study, they will offer you money, but you don't have to accept it. But you are correct, have as little money in the bank as possible. It shows that you are probably living paycheck to paycheck and need assistance. The rest of the information comes directly from your 1040, so you can't really "cheat" that.

But to be quite honest, the federal government only gives so much. The chunk of your grants/scholarships are awarded from the state or the school itself.

If you don't mind me asking, what school are you (or your child) interested in?

 

[callmemike20]

Also, why are you doing this so late in the year? Most of the funds are probably gone by now and most schools don't accept fafsas after a certain time. If you (or your child) are looking to go next fall, then you will need your 1040 for this year, which you wont get till next year. I would recommend doing your taxes early next year and getting the FAFSA done by the end of february/early march to get the most funds possible.

 

[mysterytramp]

My daughter will be entering college fall 2010. She's getting her applications out now, and some/all of the colleges wanted a completed FAFSA now. I'm guessing I'll fill out another next year.

At this point, the list of schools changes regularly. The counselors are saying her list ought to be about nine, three reaches, three in-the-bags, three safeties. Jeesh. Thirty years ago, I applied to three, and one was a joke.

mt