In this episode Melissa Joy, CFP, ® and Ann Garcia, CFP®, a financial advisor and author of the popular College Financial Lady blog, discuss the FAFSA form and strategies to maximize financial aid and merit scholarships, find out how to qualify for tax credits and other benefits. If you have a student applying for college this is a must-listen episode to help plan financially.
You will learn:
- What is considered a parent asset on the FAFSA?
- How is the EFC formula calculated?
- Why the Net Price Calculator on every college website can help you narrow down options?
- How are the FAFSA and the CSS Profile different?
- Why every family of a college-bound student should fill out the FAFSA even if you don’t think you will qualify for financial aid.
- Why keeping student assets in Roth or 529plan can have a large impact on financial aid.
- Why paying more in taxes in a FAFSA filing year can be beneficial.
- What is the best way for grandparents to gift money for college?
- What changes are coming to the FAFSA in 2023 and how might that change your EFC?
- Learn more about Ann Garcia and The College Financial Lady.
- List of documents you will need to fill out the FAFSA, FAFSA Resources by the College Financial Lady.
- Learn more about the differences between the FAFSA and CSS Profile.
- Sign up for the College Financial Plan Masterclass course HERE.
- Are you a divorced parent filling out the FAFSA? Here is a blog for you.
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