FAFSA Forecaster - Various Options

Paying for College
1

<p>My S is a junior. I just filled out the FAFSA Forecaster up to the point of submission. My H is 65 and wants to retire. I am disabled and unable to work. Our AGI will vary depending on when my H retires. Most of our assets are in retirement accounts or our home (paid for). We do have some liquid assets that we can invest in a variety of ways that impact the EFC calculation differently. Can I submit the forecast, then change some assumptions and resubmit so I can determine our best investment strategy? Can I do this several times? Has anyone done this? How does the calculation take into account my H age and my huge medical expenses?</p>

<p>Does the CSS Profile have any sort of forecast program? I looked elsewhere on this site for these answers. If I missed them, feel free to tell me where they are; otherwise, any insight anyone can give me would be appreciated. Many thanks.</p>

2

<p>I’ll admit I haven’t used the 4caster, but they say on their website:</p>

<p><a href=“https://fafsa4caster.ed.gov/F4CApp/index/complete001.jsf[/url]”>https://fafsa4caster.ed.gov/F4CApp/index/complete001.jsf&lt;/a&gt;&lt;/p&gt;

<p>“FAFSA4caster is not just for high school juniors. Parents of younger students can use the tool to receive early estimates, create scenarios based on future earnings, and then establish college savings strategies.”</p>

<p>Since it says you can use it to “create scenarios” it seems to me you should be able to modify and resubmit it as many times as you like. Then later when you’re ready, you can transport the information directly to the FAFSA.</p>

<p>The College Board has their EFC calculator where you can run either or both the Federal (FAFSA) and Institutional (Profile) forumla:</p>

<p>[EFC</a> Calculator: How Much Money for College Will You Be Expected to Contribute?](<a href=“http://apps.collegeboard.com/fincalc/efc_welcome.jsp]EFC”>http://apps.collegeboard.com/fincalc/efc_welcome.jsp)</p>

<p>However, be cautioned that although you give schools the same information on the Profile, they each have their own calculations that they use to determine your need. How they deal with things such as home equity and assets can vary widely. I’ve seen some families who get very similar FA packages from a range of schools, while others (including yours truly) have received very different amounts of FA from various schools.</p>