What’s your plan? (09/20/2017)

Scott Arens | for the Pioneer Review

Urgent Notification: The next FAFSA season is drawing near! If you will be taking college classes anytime between July 1, 2018, and June 30, 2019, you will need to go online at www.fafsa.ed.gov and start a New FAFSA or login to your existing account. A FAFSA can be filed for the 2018-2019 academic year any time between October 1, 2017, and June 30, 2019. I would file on October 1st or as soon after as possible.

So, you are now comfortable with EFC and NP = EFC + UA + FAL? I’m not really either, and that is why I trust my affiliate with the FAFSA task. I do suggest familiarizing yourself with the acronyms and getting to a point where you can be comfortable navigating the system. The FAFSA will give you your Expected Family Contribution (EFC), assist you with your Uncovered Aid (UA) and Financial Aid Loans (FAL), and let you know your Net Price (NP) of college for the academic year.

Now to make you aware, there are some universities that will ask you to fill out additional paperwork so that they can determine “their” financial aid award as a supplement to the FAFSA. It has been stated that the additional information is gathered to gain a better understanding of the family’s financial picture and better serve the student. You might run across the CSS/Financial Aid PROFILE form, state financial aid forms, and institution financial aid forms. Thank the College Board’s College Scholarship Service for the CSS or PROFILE form. This form will cost you $25 for the 1st school and $16 for each additional school. It is in existence to collect more detailed information by asking significantly more personal questions than the FAFSA. The other two forms I mentioned will vary.

Let’s leave it here for now. Expect to continue our discussion next week. Thank you, Pioneer Review, for carrying me and thank you for reading! I appreciate all of you who have let me know that you are reading and are finding the information useful: This is my “why!” If you have comments, suggestions, and/or questions, please email me at Scott@ArensCP.com.

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