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Does Cash from the Sale of the Family Home Count as an Asset on the FAFSA?

Does Cash from the Sale of the Family Home Count as an Asset on the FAFSA?

We just sold our house and have not yet found our new house and have a lot of cash on hand. We will use the cash to buy a home in ...

Mark Kantrowitz
Published February 11, 2013
Why Does a Parent Qualify for More Financial Aid than Her Dependent Student Child When Both are in College?

Why Does a Parent Qualify for More Financial Aid than Her Dependent Student Child When Both are in College?

I am a 38-year-old wife and mother who decided to go to college 20 years out of high school. I am a student at an online college and receive financial aid ...

Mark Kantrowitz
Published February 25, 2013
How is a Life Estate Treated on the FAFSA? Do the Restrictions Matter?

How is a Life Estate Treated on the FAFSA? Do the Restrictions Matter?

How is a life estate reflected on the FAFSA? A student's parent has a deed with student's grandparent having life use of the property through a life estate. Please be New ...

Mark Kantrowitz
Published March 4, 2013
Does Dependency Status on Income Tax Returns Affect Financial Aid Eligibility?

Does Dependency Status on Income Tax Returns Affect Financial Aid Eligibility?

My daughter graduated from undergraduate school in May of this year. As far as student loans were concerned she was considered a dependent for the 4 years she attended there and ...

Mark Kantrowitz
Published March 11, 2013
FAFSA Information for DACA Students

FAFSA Information for DACA Students

DACA students are defined as a subgroup of these undocumented students who have received Deferred Action for Childhood Arrivals.

Elizabeth Hoyt
Published December 10, 2014
First Lady Michelle Obama's FAFSA Completion Challenge

First Lady Michelle Obama's FAFSA Completion Challenge

In addition to encouraging students to complete the FAFSA, the First Lady could send your school a special video message or speak at your commencement ceremony!

Elizabeth Hoyt
Published December 10, 2014
Your 2015-2016 Financial Aid Deadlines

Your 2015-2016 Financial Aid Deadlines

We've got you covered with a complete list of financial aid deadlines, state-by-state, for the 2015-2016 academic year.

Elizabeth Hoyt
Published January 8, 2015
Must a Trust Fund be Reported on the FAFSA Even If Access to the Trust is Restricted?

Must a Trust Fund be Reported on the FAFSA Even If Access to the Trust is Restricted?

I have a friend whose mother passed away two years ago, and left her some money from an insurance policy. The money is currently in trust for her with her grandmother ...

Mark Kantrowitz
Published October 15, 2012
Making Sense of Your EFC

Making Sense of Your EFC

Learn about how your EFC is calculated and what comes after.

By Kathryn Knight Randolph
Published January 14, 2015
Over $2.9 Billion in Free College Money Unclaimed by Students – Why?

Over $2.9 Billion in Free College Money Unclaimed by Students – Why?

The best way to ensure that history doesn’t repeat itself by students missing out on free financial aid is for both graduating seniors and, of course, parents, to fill out their FAFSA forms ASAP!

Elizabeth Hoyt
Published January 20, 2015
Is a Student with Children But No Income Considered to be Independent?

Is a Student with Children But No Income Considered to be Independent?

I am under 24 years of age. I did not have any income the year before last. I have 2 children and live with a partner of 6 years. He is ...

Mark Kantrowitz
Published January 30, 2012
Must the Student's Child Live with the Student for the Student to be Independent?

Must the Student's Child Live with the Student for the Student to be Independent?

I'm 23 and have a 4-year-old child. Last year I received independent status for my financial aid because I supported my child more than 51% of his needs. This year the ...

Mark Kantrowitz
Published November 5, 2012
If a Student's Parents Do Not Claim Him as a Dependent on their Income Tax Returns, Will the Student Get More Financial Aid?

If a Student's Parents Do Not Claim Him as a Dependent on their Income Tax Returns, Will the Student Get More Financial Aid?

How beneficial is it to have our college attending son file his taxes on his own versus us claiming him as a dependent? Does it make a huge difference in the ...

Mark Kantrowitz
Published February 20, 2012
What Income is Listed on the FAFSA when Separated Parents File a Joint Tax Return?

What Income is Listed on the FAFSA when Separated Parents File a Joint Tax Return?

I am praying that you may be able to advise me on the FAFSA application. I am a senior in high school and will file the FAFSA in January. I live ...

Mark Kantrowitz
Published November 12, 2012
Completing the FAFSA When the Student's Parents Have a Legal Separation

Completing the FAFSA When the Student's Parents Have a Legal Separation

My parents aren't divorced but are legally separated and have been for about ten years. My mother is unable to remember where the papers for their separation are. I was wondering ...

Mark Kantrowitz
Published September 12, 2011
Will Filing Income Tax Returns as Married Filing Separately Affect Eligibility for Student Financial Aid?

Will Filing Income Tax Returns as Married Filing Separately Affect Eligibility for Student Financial Aid?

My husband and I separated last year and are living at separate addresses. We have not filed for divorce yet or a formal separation. We are considering filing our taxes as ...

Mark Kantrowitz
Published September 19, 2011
Can You Appeal for More Student Financial Aid in the Middle of the Academic Year?

Can You Appeal for More Student Financial Aid in the Middle of the Academic Year?

My husband lost his job recently. My oldest son did not qualify for student aid for college this year except for federal loans. Is there any way my son could now ...

Mark Kantrowitz
Published September 26, 2011
How Do You Calculate Individual Income From a Joint Return for the FAFSA When the Parents Are Separated?

How Do You Calculate Individual Income From a Joint Return for the FAFSA When the Parents Are Separated?

In your answer to How Does Income Tax Filing Status Affect Student Aid?, you address the question of which parent is responsible for completing the FAFSA. However, I'm very curious as ...

Mark Kantrowitz
Published February 28, 2011
Timing of an Appeal for More Aid and Appealing the Asset Value of Unsold Real Estate

Timing of an Appeal for More Aid and Appealing the Asset Value of Unsold Real Estate

How soon after filing the FAFSA can I request a professional judgement review (without seeming overanxious)? We tried to sell our previous home last year without success. The home is vacant ...

Mark Kantrowitz
Published March 7, 2011
When Will the Financial Aid Award Letter Arrive?

When Will the Financial Aid Award Letter Arrive?

I am new to all of this and I am wondering how soon we find out how much financial aid we will be getting. My son has been accepted at 3 ...

Mark Kantrowitz
Published March 14, 2011