For the last two years we’ve had one child in a private university with no financial aid as we were not eligible due to income and having a 529 account. Income for 2017 is significantly different from previous years, and with second child now heading off to college we will be pursuing aid for the older child. We aren’t going to pursue for the second child because when the second prepared applications months ago, we were not in this situation and answered “no” to that question in the fall. Kid 2 has not yet decided on a school yet, but merit is not in the cards.
Child 1’s school advised to complete a “change in circumstances form”, complete Fafsa and CSS before April 25. Is this unusual to pursue financial aid for one child and not the other? Are there ramifications with the older child’s school? Any other advice?
Thank you @mom2collegekids – because of the 529 account I’m embarrassed to say we didn’t think we’d be at all eligible as it should cover both kids for at least one year–so we let the deadlines slip past. It probably wouldn’t hurt to ask…the worst they could say is no…thx : )
Complete the forms for kid one. You might get some aid for THAT kid now that kid 2 is going to college.
It doesn’t matter what box you checked when your first kid applied. You didn’t apply for aid at that time…and unless the school has some restriction on applying now…go for it. You never know! It could save you some money!!
If you would like your kid 2 to get the Direct Loan…it’s NOT too late to submit the FAFSA for that.
Having enough money in your accounts for one year of college should not have discouraged you from applying for aid anyway…for both kids.