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Based on what Thumper1 said, here is my question...If our income is 500,000, I fill out a FAFSA and apply for FA, my kid is denied FA freshman year. In year two, we lose our jobs, and our income drops below 100,000 with very little asset, would our kid be ahead of line of another family with similar situation, but didn't fill out a FAFSA the first year? I wouldn't see why, but maybe I am missing something.
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