Thanks to Waiting2exhale for referring me to this discussion. Our d will be joining the class of 2016.
This post is so long… not sure I will be able to tackle it in its entirety.
This is our first exposure to the college application process. Her dad and I both went to OSU when it was open admission. Our applications were similar to an application for a fast-food job. So, we have no experience in this matter.
I have skipped through and read a few posts and I think I am becoming more confused about a multitude of subjects.
For example, I read that one common app says to only submit deposit to one college or university. And then something was said that there are no directions on other application forms. On a dance blog website, the parents of dance majors were discussing what to do about deposits and securing housing for their kids. They indicate that in many cases their kids have applied to and been accepted to universities. However, the audition for entry to the dance major has not yet taken place. They were discussing deposits and most people advised them to go ahead and put down deposits for universities that have refundable deposits. Yet- someone on this board gave a link to college board website that indicates that this can be viewed as unethical. Does anyone have any advice for these parents?
Regarding the FAFSA-
I read dyiu13’s post and it seems their FAFSA is due January 1? I was under the impression that there was still some time to file.
I looked at the website for the university my child intends to enroll and found this info:
“Beginning January 1-Complete the 2015-2016 version of the FAFSA for the aid year beginning fall semester 2015 and ending summer session 2016.” OK… so when is it due???
My child has received a full ride merit scholarship. The scholarship letter states that the scholarship " is not related to financial need". I have heard that some colleges require the FAFSA to be filed for merit scholarships. However, I do not see any requirements for the FAFSA specified in the scholarship award letter.
Also of note was the prior scholarship letter offered a $5,000 study abroad scholarship…I am not sure if they would stack these scholarships. I am also not sure if the FAFSA would be required for that or other types of scholarships such as a research grant. Any ideas?
Yes, we’re going to guesstimate the custodial account tomorrow and then update the FAFSA with the actual balance along with our actual 2015 tax return data later in 2016 once we file taxes. We want to submit on January 1 due to any possible state grant (first-come, first-served), various scholarships that require it, and so it can be considered by schools that might use it in determining whom will get the full-tuition grant. A bunch of “ifs.” Also, on Monday we all go back to our full-time gigs outside the home, so best to get FAFSA done now, all things considered. We had thought that all the FAFSA ducks were in a row.
@Mysonsdad I was so busy planning our BBQ, I forgot to comment on your mention of an article about if attending a reach college is a good idea. Someone on another thread posted a video link on the same topic, and I saved it thinking it might be worth sharing with D at some point.
The FAFSA for school year 2016/17 will become available to file starting tomorrow. The deadline you need to meet is any from schools or state aid, but most are after January.
You can estimate income from paystubs and then go in and correct it after doing taxes. The best way is using the IRS data retrieval tool in FAFSA.
But assets balances are to be entered as of the day you submit FAFSA, you can’t change those later.
You don’t need to know what they are on Jan 1, just what the assets are on the day you actually submit FAFSA.
The earliest you can submit FAFSA is January 1. Most colleges seem to instruct incoming freshmen to complete FAFSA (even with estimated tax info) asap after January 1, from what we saw. They seem to hide their actual deadline for FAFSA, but today we found D16’s schools have all asked for it by February 1st or 15th or March 1st.
@momofsmartdancer While FAFSA might not be required for your student’s full-ride merit scholarship, it might be good to have it done in case of some other scholarships, loans, or other options that do consider the FAFSA report – even if your EFC is high. For example, I’ve seen scholarships that were awarded to low-EFC students, as designed, plus a few higher-EFC students when extra funds still remained and needed some worthy awardees.
I would be willing to try a jello shot…but have no idea what type of alcohol goes in them. Can they be made with rum? I have to have a gluten free alcoholic option
Thanks! That is a good point about filing. D has some dreams about studying abroad twice- it looks like we should file in case some type of scholarship comes along for study abroad.
@momofsmartdancer Those state aid deadlines would be for any grant your state government gives out to students with primary residence in your state to help them stay in-state. It’s a perk for the state’s residents if the student attend a public or private college in the same state. At least that’s how our state works. Here, it is need-based along with first-come, first-served until the funds run out.
The actual college might have its own deadline for FAFSA.
Happy New Year and welcome @momofsmartdancer ! I defer to everyone else’s answers, though.
My DS forwarded me an email saying to do the FAFSA by Jan 1st, but I think that was for this year’s aid for people already in college (?) At any rate, I thought it wasn’t due quite yet for those of us with kids starting college in fall of 2016…?
BTW, I’ve now learned that one can not estimate any asset on FAFSA. Only the taxes can be estimated and then corrected later. (Thanks, CC!)
Our next FAFSA in 2017 for the 2017/2018 school year won’t require a tax estimate because of the coming changes. That year, FAFSA applicants will be using the 2015 tax return data again. Apparently, it won’t be a choice. The base year will be 2015 (again) rather than 2016. This is just from what I’ve read…so please confirm.
