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FAFSA
Jun 19, 2014 8:34:43 GMT -5
Post by aterry on Jun 19, 2014 8:34:43 GMT -5
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FAFSA
Jun 19, 2014 12:45:22 GMT -5
Post by SharonF on Jun 19, 2014 12:45:22 GMT -5
Thanks for posting! Simplifying FAFSA would be a huge step in the right direction!!
I HATED filling out FAFSA. Not because all 108 questions were so difficult (but some did require digging through scattered documentation, such as the amount of money dh and I had put toward our 401ks in the previous year.)
But the main reason I hate FAFSA is because it's so tedious, time consuming, and the end result (EFC) always left me in a state of shock. I think it's wrong to use a formula that assumes a family can afford to put 30% or 40% of its AGI toward college.
And because the EFC is only a guide, colleges don't have to follow the EFC. Many years, we paid more than our EFC. Especially the year we had two kids in college. Both the state school and the private college chose to ignore that we had two kids in college--and charged us the same amount as when we only had one in college.
To me, FAFSA was a colossal waste of time. All that mandatory, tedious work to be told that we could borrow a few thousand dollars at 6.8% interest. Whoo Hoo! We got a far better interest rate on their private loans. A loan at 6.8% interest is not financial aid, it's legalize theft.
I realize that reducing the number of FAFSA questions would not change the EFC formula. It would not change the fact that colleges can and do charge more than EFC. It would not lower the extremely high cost of getting a college degree.
But using the tax return/AGI from two years ago would allow families to more easily meet the college's FAFSA filing deadline. Now, FAFSA often must be filed before parents/students get their W2s or file their taxes. That requires filing FAFSA amendments, which take even more time.
And even if the EFC doesn't improve when a middle class family answers two FAFSA questions, rather than 108, a simplified FAFSA would be a small victory. It would mean spending less time filling out a form that, in the end, was mostly a tedious exercise in futility.
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FAFSA
Jun 19, 2014 15:32:09 GMT -5
Post by healthy11 on Jun 19, 2014 15:32:09 GMT -5
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FAFSA
Jan 30, 2015 10:32:56 GMT -5
Post by healthy11 on Jan 30, 2015 10:32:56 GMT -5
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FAFSA
Jan 30, 2015 11:31:47 GMT -5
Post by michellea on Jan 30, 2015 11:31:47 GMT -5
We are still debating the merits of filling out the FASFA. My daughter did not qualify for anything her freshman year, so we didn't bother last year. But, next year we'll have two in college and much of the savings has been spent on child #1. So, maybe we'll qualify for something. But, we are not optimistic. We are the folks caught in the middle.
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FAFSA
Jan 30, 2015 12:11:19 GMT -5
Post by healthy11 on Jan 30, 2015 12:11:19 GMT -5
Michellea, I understand your situation, as we were also "caught in the middle." Still, I remember attending a special seminar about financial aid when my son was in high school, and the presenter was adamant that every family should complete the FAFSA, even if they didn't qualify for aid in the past, and/or doubt they'd qualify in another year. The presenter mentioned that she was contacted by one family who unfortunately had experienced a parent's death and significant drop in income, but because the family did fill out a FAFSA annually, they were able to file hardship papers mid-year, and then received aid from several sources. (My memory is a bit fuzzy, but as I recall, it wasn't just "government money," as many colleges have private funding available, but they won't designate it to students without a FAFSA.)
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FAFSA
Jan 30, 2015 12:25:12 GMT -5
Post by bros on Jan 30, 2015 12:25:12 GMT -5
It's always best to apply just in case.
Not like it takes that long.
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FAFSA
Jan 30, 2015 12:47:21 GMT -5
Post by michellea on Jan 30, 2015 12:47:21 GMT -5
Well, my husband is the one that fills it out - he hates it and thinks it takes way too long. He's a CPA and fills out financial forms all the time and particularly hates FASFA! That said, I forgot that even local scholarships might require FASFA.
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FAFSA
Jan 30, 2015 13:03:41 GMT -5
Post by bros on Jan 30, 2015 13:03:41 GMT -5
My parents always filled it out because they were unable to save anything for us for college (like most people in our area), even though I got DVR assistance for four years.
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FAFSA
Jan 30, 2015 15:24:13 GMT -5
Post by healthy11 on Jan 30, 2015 15:24:13 GMT -5
Michellea, I completely understand FAFSA frustrations...I can't help but wonder how people who aren't "comfortable with numbers" handle the paperwork? (With your husband being a CPA, and my husband and I being engineers, it's not that difficult for us to keep track of details, I imagine it's mostly the time it takes to fill out the forms.) Makes FAFSA seem as "pleasant" a chore as doing one's taxes!
FWIW, I remember the seminar presenter I mentioned earlier telling the audience that another reason to fill out the FAFSA, even if they don't expect to get financial awards, is that it also serves as a good "exercise" for getting one's financial records in order, since many people don't keep good track of their assets.
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FAFSA
Feb 8, 2015 23:10:14 GMT -5
Post by healthy11 on Feb 8, 2015 23:10:14 GMT -5
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FAFSA
Feb 25, 2015 17:10:20 GMT -5
Post by aterry on Feb 25, 2015 17:10:20 GMT -5
DD and I used the retrieval tool for the very LAST time we had to do FAFSA and some glitch happened which was a cascade from a glitch when our accountant had e-filed the return which was not discovered until the FAFSA debacle. It caused a HUGE problem and DD ended up getting her FAFSA audited. It was very unpleasant with the Financial Aid office practically accusing us of fraud. The best thing about having DD and DS out of college is no more FAFSA.
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FAFSA
Sept 15, 2015 17:52:06 GMT -5
Post by healthy11 on Sept 15, 2015 17:52:06 GMT -5
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FAFSA
Jan 4, 2016 9:53:08 GMT -5
Post by healthy11 on Jan 4, 2016 9:53:08 GMT -5
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FAFSA
Jan 4, 2016 13:36:29 GMT -5
Post by mykids on Jan 4, 2016 13:36:29 GMT -5
"It would mean spending less time filling out a form that, in the end, was mostly a tedious exercise in futility." - I fully agree with SharonF on this. And if you could afford to pay the amount they tell you that you can and is your EFC, then you should not have the need to take a loan out to fulfill your EFC. I suspect there are more parents who have the need for a loan than not.
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FAFSA
Jul 14, 2017 23:00:39 GMT -5
Post by healthy11 on Jul 14, 2017 23:00:39 GMT -5
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