FAFSA income limit?

momofthreeboys
Sat, 21 Nov 2009 13:03:19 +0000

Jazzmom, it’s not so simple as “income” it’s income and assets. Figure out your estimated EFC and that will give you a pretty clear idea. We have low income and high assets because we are within nano seconds of retirement so our EFC is high even thougoh our “income” is low. It’s not a “sensitive” question at all. EFC is EFC. If your EFC is higher than the cost of attendence, well, you have your answer and whether or not you file to receive the Stafford is up to you and also if the college requires the FAFSA to disburse merit aid. You would need to ask the institution. Your personal cash flow is not a consideration at FAFSA schools. Everyone can take out a Stafford loan, unsubsidized. If your EFC is lower than cost of attendence each school will vary on whether or not you will get aid. That is why posters talk so much about meeting need and gapping. Profile colleges take a much closer look at income and assets and factor in more family information than FAFSA only schools. Profile colleges are “less easy” to understand what your package “might” look like in my opinion. So income again is not the sole determiner. It is income and assets. The calculators are pretty accurate for FAFSA EFC. The calculators for Profile schools are pretty accurate but how the colleges disburse based on the info is less obvious in my opinion.