Insider Tips for the week of February 3, 2024

Insider tips for building the college list (part two) – The College Inside Track Consulting Team  for effectively building a strong college application list. FAFSA mistake fixed but data further delayed – The huge mistake on the new, redesigned FAFSA will be fixed, but colleges won’t receive any student FAFSA information until sometime in March, further delaying a process that…

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Student Aid Index (SAI) – 5 things to know

money puzzle

  You fill out the FAFSA, which gives you your Student Aid Index (SAI), which is how much your family will pay for college. Seems simple right? Ah, but like most things with the college process, that is unfortunately not the case. Here are 5 things every family should know about that SAI.   1…

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FAFSA error means less financial aid for families

frustrated male student

  The new, redesigned FAFSA that will launch by the end of 2023 has a calculation error that will result in most families qualifying for less financial aid than lawmakers intended. The legislation that drove the FAFSA overhaul called for an increase to the amount of income that was shielded from the FAFSA calculation, otherwise…

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FAFSA delayed

man waiting

The FAFSA form for students entering or attending college in Fall 2024 would normally open on Oct. 1, but has been delayed until sometime in December due to the significant new changes being implemented. The Department of Education needs more time to update the application and the various calculations related to the updates. This also…

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FAFSA changes

FAFSA changes passed by Congress

  The COVID relief bill passed at the end of 2020 also included some significant changes to the FAFSA. The changes go into effect for the 2024-25 school year. The FAFSA for that school year opens on October 1, 2023 and will use tax information from 2022. And because the FAFSA is completed each year…

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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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FAFSA change for families with multiple students

multiple students

  At first glance, the recent changes to the FAFSA appear to be a good thing: A simpler form with far fewer questions, increased financial aid eligibility for low income families, and a formula change reducing any penalty for grandparents who contribute to college. But another formula change could prove to be extremely painful to…

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