Photo by Simon Maage on Unsplash
The slow pace of Minnesota summer always lulls me into thinking that fall and winter are a long way off. Deadlines and key dates that occur after school has started and the leaves have changed color seem more like “somedayish” guidelines than hard realities. And school years that won’t start until the Fall of 2023? Well, that’s practically another lifetime.
In reality, the school year will be here soon. Planning for students to go to college in the 2023/2024 school year should start now, not “in a year or two”.
One of the key dates for parents of college students every year is October 1. That’s the date parents and students can file the Free Application for Federal Student Aid, aka the FAFSA form. The FAFSA is used by colleges to determine a student’s Expected Family Contribution (EFC), their level of financial need, and ultimately, how much financial aid they may qualify for.
For divorced families one of the key decisions to make before completing the FAFSA form will be whose financial information to use. Generally, students are required to use the financial information of the parent who the student lived with the most during the previous twelve months. In some cases, the choice of which parent’s financial information to use can make a significant difference in the student’s eligibility for financial aid.
This article from author and college planning expert, Jeannie Burlowski, describes how divorced parents can get more financial aid for college: https://jeannieburlowski.com/2016/08/08/divorced-parents-financial-aid-college/
Looking for more information on how to get your kids through college debt free and into jobs they love afterwards? Check out Jeannie’s book, Launch: How To Get Your Kids Through College Debt Free and Into Jobs They Love Afterwards, available on Amazon.com.
Who is Jeannie Burlowski?
Jeannie is a full-time academic strategist, podcast host, and sought-after speaker for students ages 12–26, their parents, and the professionals that serve them. Her writing, speaking, and podcasting help parents set their kids up to graduate college debt-free, ready to jump directly into careers they excel at and love.
Her work has been featured in publications such as The Huffington Post, USA Today, Parents Magazine, and US News and World Report, and on CBS News. Jeannie also helps students apply to law, medical, business, and grad school at her website GetIntoMedSchool.com. You can follow her on Twitter @JBurlowski.
To discuss any of the topics in this blog or to learn more about how we can help you Cross The Bridge To A Confident Retirement, please contact me through my web site mikebranch.net, call me directly at 651-379-3935 or email me at mpbranch@focusfinancial.com.