College Confidential - View Single Post - Why is Income the Only Measure for FAFSA?

LetItBe · 07-29-2007, 06:48 PM

I don't understand this. We all live in various parts of the country. What might be a generous income in the mid-west is barely making it in the Northeast. Someone who makes over 100K in Iowa is likely living with a mortgage payment of 1000. or less. The same house in many parts of the Norhteast requires a monthly mortgage/tax/insurance payment of 3000. or more. One's income might appear "high," but why is there no way to factor in geography, state taxes, even a reasonable amount of debt?

07-29-2007, 06:48 PM	#1
LetItBe Junior Member Join Date: Sep 2006 Location: New England Posts: 47	Why is Income the Only Measure for FAFSA? I don't understand this. We all live in various parts of the country. What might be a generous income in the mid-west is barely making it in the Northeast. Someone who makes over 100K in Iowa is likely living with a mortgage payment of 1000. or less. The same house in many parts of the Norhteast requires a monthly mortgage/tax/insurance payment of 3000. or more. One's income might appear "high," but why is there no way to factor in geography, state taxes, even a reasonable amount of debt?
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