FAFSA tips with a lot of dependents

cptofthehouse
Wed, 09 Oct 2019 15:10:32 +0000

You’ve given your kids quite a challenge in leaving it up to them to pay for the last two years of college. Unfortunately, the college financial aid system puts the burden to pay on you by making YOUR income and assets what drives the financial aid package. In other words, they cannot get financial aid until the family EFC is paid and the main component of that number is YOUR income.

They are also additionally hampered from getting a lot of the scholarships out there because most of them are for freshmen. Not transfer students.

I don’t see how a kid finishing up first two years of college is going to get the money to go away to school AND pay the tuition, room and board, supplies, books, transportation and other living expenses. You are getting away really cheap paying community college tuition and just paying expenses for kid to commute there, continuing to live at home. Where do you think your kids are going to get the money, for day, Illinois State?

Your state is very expensive In terms of public college costs. Illinois State’s edging close to $30k a year these days and all your son is entitled to get is $6500 in Direct Loans. Where do you think he’s going to get that kind of money? He’s lucky to get a job making $30k clear full time.

You are not being realistic here