Financial Aid Formula Changes

income protection allowance rising

  The FAFSA formula that determines how much financial aid a family will qualify for is undergoing two behind-the-scenes financial aid formula changes for the 2023-24 school year.  These changes are in addition to the massive changes happening for the 2024-25 school year for families with multiple children in college, grandparents, etc. First, the good…

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FAFSA changes for financial advisors

  Check out the following video from College Inside Track President Chris Wills providing a helpful overview of the new changes to the FAFSA that financial advisors need to know about, as they will require new planning strategies for many clients

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Scholarship reduction – The dirty little college secret

Would you ever consider a scenario where the scholarships your student won actually resulted in a scholarship reduction elsewhere? One of the students we work with, whom we’ll call Caitlyn, was a dream that every parent (and counselor) hopes for: kind, bright, studious and incredibly engaged in the college process. In addition to having nearly…

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Insider tips for the week of May 30, 2022

student looking through binoculars

  ACT/SAT outlook – Bruce Reed of Compass Education Group shares his thoughts on how standardized tests will be used by colleges moving forward. He expects testing opportunities will rebound and while many schools are continuing policies and trials as test optional, having a test score when applying to more selective colleges may be an…

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5 Nuggets of College Planning Wisdom

1 Choose a college that is a fit academically, socially AND financially. And a financial fit inherently means that neither the student nor the parents are over-borrowing (see #2). 2 Borrow an amount no greater than the average first-year salary in your chosen field. If total student loan debt is less than your starting salary,…

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FAFSA change for small business owners

small business owner

  Add small business owners to the group of people impacted by the upcoming FAFSA changes for the 2023-24 school year. Currently, the value of any privately held business, including assets, with less than 100 employees does not need to be reported on the FAFSA as part of its small business exclusion. This includes a…

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Insider tips for the week of May 2, 2022

mom and son in car

  Top tips for AP success – The folks at Compass Education Group have put together a handy one-stop resource with information about AP exams and prep, as well as an examination of the role APs play in college admission.    3 things to do now for strong HS recommendation letters – Students have experienced…

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Insider tips for the week of April 4, 2022

sunglasses on beach

  Finding meaningful summer activities – Summer is a golden opportunity for students to contribute to the story of who they are, what they value, and how they are engaging their passions, interests & dedication in meaningful ways. CIT Consultant Paige Feldman proposes thinking about what values a student wants to bring forward with the…

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Insider tips for the week of February 28, 2022

indecisive student

  Types of loans available – Fred Amrein provides a good summary of the various loans that may be offered to families as part of a college’s financial aid package. Key learning: The Direct Federal Loan is the only one entirely owed by the student and is limited to a total of $31,000 over all…

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