Overlapping Kids in College & Divided EFC....Why???

calmom
Mon, 02 Apr 2018 22:39:34 +0000

The financial aid formulas do weigh current income very heavily – that can also be a benefit for the offspring of olderr parents who have retired, especially if the retirement assets are largely shielded within a 401K.

It also can make things very difficult for families with uneven income from one year to the next.

There are many different ways in which the financial aid system favors some over others, depending on circumstances. But they do need a system and a formula to work with, and this is the one they have come up with.

The federal system (FAFSA) is really targeted for lower end earners overall – so far less likelihood of substantial savings. I

The private, meets-full-need colleges do build their financial aid offers from FAFSA combined with CSS Profile information, but they also have an agenda of wanting students to attend. So that does mean considering current circumstances of the family-- rather than trying to punish or reward for past history. And that does mean taking a family’s current discretionary income into account. Because it isn’t about “fairness” over a lifetime – the colleges are only concerned about the 4 years a given student will be enrolled.