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  • +13

    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 colleges and each one wants money to secure his place. One is way more expensive than the others but if we get enough aid he can go there. The deposit ...
    Published about 3 years ago | Rated: +13
  • +28

    FAFSA Checklist

    FAFSA Checklist
    The FAFSA: one of - if not the most, daunting of financial aid forms. The name alone can make students shudder in fear. But, there’s no reason to be afraid, Fastwebbers! We've got you covered; letting you know everything you need before you even think about filling out the form. It’s important to gather all the necessary information and materials beforehand. ...
    Published 6 months ago | Rated: +28
  • +22

    Which Assets and Debts are Reported on the FAFSA?

    Last year my family had low income ($40,000) but high assets. The assets include $1 million in properties, other investments, the primary home, car, 401(k), IRA and pension plan. How are the assets counted for determining need-based financial aid? — S.S. Certain types of assets are not reported on the Free Application for Federal Student Aid (FAFSA). For example, the net ...
    Published about 3 years ago | Rated: +22
  • +9

    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 amount of aid and/or scholarships he would receive? — Lois H. Whether or not a student is claimed as an exemption on his parents' federal income tax returns has no ...
    Published about 2 years ago | Rated: +9
  • +37

    He's the Financial Aid Guru. Only on Fastweb.

    He's the Financial Aid Guru.  Only on Fastweb.
    Is your financial aid advice featured in The New York Times? Didn’t think so. Mark Kantrowitz, is nationally recognized as an often quoted leading financial aid expert. With degrees from M.I.T., Carnegie-Mellon and more quotes than Webster’s, he is the financial aid guy’s financial aid guy. Here’s his advice for these tough times. Kantrowitz strongly encourages families to save 1/3 of ...
    Published almost 5 years ago | Rated: +37
  • +204

    Congress Proposes Overhaul of Federal Student Loan and Grant Programs

    Congress Proposes Overhaul of Federal Student Loan and Grant Programs
    The US House of Representatives is considering legislation to overhaul the federal education loan and grant programs. The Student Aid and Fiscal Responsibility Act of 2009, nicknamed SAFRA, will increase funding for federal student aid programs and simplify the Free Application for Federal Student Aid. These changes will implement several of President Obama's campaign promises. Switch to 100% Direct Lending Starting ...
    Published over 4 years ago | Rated: +204
  • +8

    How Do Grandparent-Owned 529 College Savings Plans Affect Financial Aid Eligibility?

    How Do Grandparent-Owned 529 College Savings Plans Affect Financial Aid Eligibility?
    Only 529 college savings plans that are owned by the student or the student's parents are reported as assets on the Free Application for Federal Student Aid (FAFSA). So a 529 plan owned by a grandparent or other third party will not be reported as an asset on the FAFSA. However, qualified distributions from such a 529 plan are treated as ...
    Published about 2 years ago | Rated: +8
  • +26

    Tuition Saving Tips

    Tuition Saving Tips
    Oh, tuition. Some consider it a nasty word and rightfully so. It’s expensive and can hang over a student’s head throughout college and for years to come. But there are ways to save on tuition – you just need to become savvy about it. It takes time and effort, but when you’re talking about that much money, it’s more than likely ...
    Published about 1 month ago | Rated: +26
  • +17

    Does Applying for Financial Aid Affect Your Chances of Admission?

    Does applying for financial aid ever limit one's chances of acceptance to a college? Do colleges give any subtle preference to students who state on their application that they do not need financial aid? For example, would it be advantageous for a student whose parents earn $150,000 and have adequate savings to tell a college costing $30,000 that they do not ...
    Published about 3 years ago | Rated: +17
  • +13

    What Can You Do If Your Parents Won't File the FAFSA or Help Pay for College?

    I am in kind of a bad situation. I had a bit of personal problems and had to move out of my house and no longer live with my parents. Unfortunately they will no longer pay for any of my schooling. I previously filled out the FAFSA and did not qualify because my parents made too much money. However, because I ...
    Published almost 4 years ago | Rated: +13
  • +12

    What Happens If You Deliberately Don't Report Assets on the FAFSA?

    I'm doing everything possible to lower my EFC. I have assets, UTMA, mutual funds, stocks and I know they hurt my chances of receiving free money (Federal or state grants). I was thinking of cashing in the assets and putting them in a safety deposit box. That way I won't have to claim them on the FAFSA because they are no ...
    Published about 3 years ago | Rated: +12
  • +13

    When is a Stepparent or Adoptive Parent's Income Reported on the FAFSA?

    My daughter's father and I are divorced and I have remarried. Neither my previous nor my new husband are contributing toward my daughter's education, so I am paying all of the expenses myself. How can I show that in my taxes and on the FAFSA so the aid calculations are not made using twice the income that is actually being applied ...
    Published about 3 years ago | Rated: +13
  • +270

    Can You Get a Pell Grant Even If You Don't Qualify for the Free and Reduced-Price School Lunch Program?

    If a child does not qualify for the free or reduced-price school lunch program, can they still qualify for federal student aid? —Y.P. Yes. Students who don't qualify for the free or reduced-price school lunch program can still qualify for federal student aid and should submit the Free Application for Federal Student Aid (FAFSA). The FAFSA added a question about the ...
    Published about 3 years ago | Rated: +270
  • +9

    What's the FAFSA? And Why You Should Care

    What's the FAFSA? And Why You Should Care
    You must submit the Free Application for Federal Student Aid (FAFSA) if you want to apply for federal and state financial aid. Many colleges and universities, especially public institutions, also require the FAFSA. You must submit the FAFSA every year that you want aid. Obtaining a FAFSA The FAFSA is available in several formats, including online, PDF and paper versions. The ...
    Published almost 5 years ago | Rated: +9
  • +3

    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 we filed our income tax as such. However, she started graduate school in July of this year and in order to attend she had to apply for a student loan ...
    Published about 1 year ago | Rated: +3
  • +4

    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 married filing separately. I am currently a student at an online university and will need to fill out my FAFSA soon. Although my soon to be ex-husband makes about $75,000 ...
    Published over 2 years ago | Rated: +4
  • +5

    The FAFSA - Step One for Financial Aid

    Applying for financial aid is easier than you think. Your first stop: the (FAFSA). For many schools, this is the only form you need. What is it? The FAFSA is the form the federal government uses to determine your eligibility for federal assistance (loans, grants, work-study appointments and some scholarships). Schools also base their financial aid packages on the FAFSA. And, ...
    Published over 1 year ago | Rated: +5
  • +22

    Why the FAFSA May Soon be Extinct

    Why the FAFSA May Soon be Extinct
    With President Barack Obama's inauguration, many people are looking forward to the changes he promised during his campaign in 2008. He set specific goals in evolving the college application and attendance process. One specific plan is the American Opportunity Tax Grant. Another is the elimination of the FAFSA. President Obama and Vice President Biden hope to streamline the process of applying ...
    Published about 5 years ago | Rated: +22
  • +16

    Making Sense of Your EFC

    Making Sense of Your EFC
    Everyone has an idea of what their EFC (Expected Family Contribution) should be, but it typically never matches with what the FAFSA declares, leaving a lot of students and families clambering for more options to pay for school. Understanding how the EFC is determined and what happens after might lead to greater transparency into the process, helping you and your family ...
    Published about 2 years ago | Rated: +16
  • +12

    Impact of a Government Shutdown on Student Financial Aid

    Impact of a Government Shutdown on Student Financial Aid
    If Congress fails to pass legislation funding the federal government, the federal government will shut down and more than 800,000 government employees will be furloughed. The impact on federal student aid, however, will be minimal. During a government shutdown government employees who are considered "essential" will continue to work. This includes personnel who are critical for national security and the safety ...
    Published about 3 years ago | Rated: +12