Families with more than one student in college could be dinged because of the new calculation, which gets rid of a discount for parents with multiple children in college during the same year. That could hit families with multiple college-age students, experts say. "Essentially, they would ...
Previously, if a parent indicated on the FAFSA that they had multiple children in college at the same time, their EFC would be divided among those enrolled. However, that's no longer the case. Because of that, "families could experience an increase in their (...
(It's important to note that the new FAFSA formula no longer considers the number of family members attending college simultaneously, which may reduce the amount of aid families receive if they have multiple children in college.) Each of these elements affects the calculation for...
This change will not yield much of a difference in the student aid index for low-income students, because half of zero is still zero. But it will decrease aid eligibility for middle- and high-income students when there are multiple children in college. Income Protection Allowance The parent i...
The multi-child discount for families that have multiple children in college is eliminated. The family business and farm asset values will be added to the asset calculation. For divorced and separated parents, the parent who supplies the larger amount of financial support should be the FAFSA-submi...
Under the new system, more low- and moderate-income students will have access to federal grants, but the changes will reduce eligibility for some wealthier families. And, as part of the FAFSA simplification, families will no longer get a break for having multiple children in college at the sa...
Therefore, I was able to apply for financial aid through FAFSA without a hitch because my dad was not evading filing taxes since he wasn't even required to file. So my advice to all you children of illegal immigrants is to check whether or not your parents' (or parent's, if you live...
assess a student's financial need; more students should get access to Pell grants; and the discount for parents with multiple kids in college will go away."I would love to see opportunities more for grants, not loans," McConnell said.One of the most confusing changes is for kids with ...
FAFSA has always given families with multiple children in college a little extra help. But starting with the 2024-2025 school year, that “sibling discount” will no longer exist. This will mostly impact middle- and higher-income families, who are likely to have the means to send mult...
Students who are the first in their families to attend college and those from low-income families tend to have complicated financial situations. I know this firsthand: When I applied for college, my financial support was being cobbled together from multiple family members in a situation that woul...