On January 3rd, Congress announced bi-partisan support to simplify the Free Application for Federal Student Aid (FAFSA.) The FAFSA is the form required to receive Federal Aid for college.
What Class of 2023 families should know:
Changes will take effect for students in the Class of 2023, who will complete the FAFSA in October 2022
This year's (2021) reported income would determine your student's financial need
The FAFSA will be shorter, decreasing the number of questions by more than 50%.
Taxed and untaxed income will automatically transfer from the applicant's tax return, making completion easier
Families with lower incomes will have fewer questions to answer than families with higher incomes
A published "lookup" table will give families an indication of need grant eligibility before completing the FAFSA
Expected Family Contribution (EFC) will be re-worded to Student Aid Index (SAI)
One of our first curriculum units helps families map their budget to a probable net cost of attendance based on eligibility for Federal or Institutional need grants and merit scholarship probability.
A good fit college list includes the following:
Quality of outcomes as defined by on-time graduation, value-added to graduate's salary, debt after graduation, and academic reputation
Financial strength to continue investments in educational resources
6-12 schools balanced for admission probability and the net cost of attendance to meet the student's economic parameters
Check out these quality schools that accept >50% of students, are generous with need grants, and do not require the CSS Profile.
Questions? Schedule a no-obligation chat with us.
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