I'm dealing with a very similar situation and this thread has been incredibly helpful! My wife owns 75% of an S corp that holds a small office building we rent out to local businesses. I was initially hesitant to report it as an investment since it felt more like a business asset, but after reading everyone's explanations about pass-through entities and economic ownership, it makes complete sense. One question I haven't seen addressed: how do you handle improvements or capital expenditures that might affect the property value? We did about $30k in renovations last year that increased the building's value, but I'm not sure if I should use the pre-renovation assessed value or try to estimate the current value including improvements. Also, for anyone else in this situation, I found that our commercial insurance company was able to provide a replacement cost estimate that helped us gauge current market value - might be worth asking your insurance agent if you're struggling with valuation like I was. The consensus here is clear though - S corp real estate definitely needs to be reported. Thanks everyone for sharing your experiences!

I'm new to this community but facing a very similar situation with my family's S corp that owns rental properties. This thread has been incredibly educational! Reading through everyone's experiences and the expert advice from the financial aid officer and CPA really helped me understand why S corp assets must be reported as investments on the FAFSA. What I found most helpful was the explanation about "pass-through" entities and how the FAFSA looks at the economic substance rather than just the legal ownership structure. The analogy of thinking about it like owning shares in a company that happens to own real estate instead of other assets really made it click for me. I'm curious - for those who have been through this process, did you find that reporting the S corp assets significantly impacted your financial aid eligibility? I'm trying to prepare mentally for how this might affect our Expected Family Contribution. We have a modest commercial property but I'm worried even a small business asset might hurt our aid prospects. Also, has anyone had experience with financial aid offices requesting additional documentation or verification of the S corp asset values? I want to make sure I have all the right paperwork ready just in case. Thanks to everyone who shared their knowledge here - this community is such a valuable resource for navigating these complex FAFSA situations!

Just wanted to add my experience as someone who's completed the PLUS loan process for all 4 years with my son who graduated last year. The annual reapplication definitely becomes routine, but here are a few things that helped us: 1) We set up a dedicated folder (digital and physical) to track all PLUS loan documents each year, 2) I created a simple spreadsheet to track the different interest rates and amounts borrowed each year, and 3) Most importantly, we treated each year as a separate financial decision rather than assuming we'd automatically borrow the same amount. Some years we were able to borrow less because of summer earnings or additional scholarships. The key is staying organized and not getting overwhelmed by the year-to-year uncertainty. It's definitely stressful, but thousands of families successfully navigate this process every year. You've got this!

I'm in a very similar situation with my daughter starting college next year, and this thread has been incredibly eye-opening! I had no idea we'd need to reapply annually - I was assuming the PLUS loan approval was good for all four years. Reading everyone's experiences, it sounds like the key things I need to prepare for are: keeping our credit in good shape each year, applying for FAFSA as early as possible (October 1st!), and being ready for the loan amounts to potentially change based on tuition increases and changes in her other aid. The idea of making interest payments during school to prevent capitalization is something I hadn't considered but makes a lot of financial sense. Thanks to everyone who shared their real experiences - both the success stories and the cautionary tales. It's helpful to know what to expect, even if the annual uncertainty is stressful. At least now I can plan accordingly instead of being caught off guard!

One more crucial thing to understand: PSLF requires 120 *qualifying* monthly payments, which means you need to: 1. Work full-time (30+ hours/week) for a qualifying employer 2. Make payments while on an income-driven repayment plan 3. Make payments on time If you expect to continue federal employment for at least 2 more years (to reach the 10-year requirement), then consolidating Parent PLUS loans makes sense. Also, consider timing: Since your oldest is a senior, their loans will enter repayment soon. Your middle child's loans won't enter repayment for 5+ years. If you consolidate separately, you could potentially have some loans forgiven earlier than others. One strategy some federal employees use is to minimize Parent PLUS loans by having the student maximize their direct subsidized/unsubsidized loans first, then only use Parent PLUS for the remaining amount needed.

As someone who's navigating federal employment and student loans, I want to add a timing consideration that might help with your planning. Since you have 8 years of federal service already, you only need 2 more years to hit the 10-year PSLF requirement. Given your kids' ages, here's what I'd consider: - Your oldest (senior year) - any Parent PLUS loans you take now could potentially be forgiven in just 2 years if you consolidate immediately - Your middle child (starting college next year) - these loans would be forgiven after 3 years of payments - Your youngest (still in middle school) - you have time to reassess the program and rates when they're ready for college The key is getting that consolidation done ASAP after taking out each Parent PLUS loan and making sure your employment certification is filed every year. Don't wait until you have all the loans - start the PSLF clock ticking on each one as soon as possible. Also double-check that your current federal position qualifies for PSLF. Most do, but it's worth confirming with HR or using the PSLF Help Tool on studentaid.gov.

Just wanted to add my experience as someone who's been through this process multiple times with rental properties. One thing that really helped us was creating a simple spreadsheet to track all our rental property info year over year - property address, acquisition date, current market value estimate, outstanding mortgage balance, and net equity. This makes filling out the FAFSA much faster each year and helps ensure consistency. Also, if you're using online valuation tools like Zillow or Redfin, I'd recommend taking the average of 2-3 different estimates rather than relying on just one, as they can vary quite a bit. The financial aid offices seem to appreciate when families show they've done their homework on property valuations rather than just picking a random number.

Just want to add a quick note about timing - make sure you're using the property values and mortgage balances as of the date you file your FAFSA, not necessarily what they were at the end of the tax year. Property values can change significantly, and if you've made mortgage payments throughout the year, your equity will be different. I learned this the hard way when our property value dropped between tax filing and FAFSA submission, and I had to go back and correct our original submission. It's a small detail but can make a difference in your calculated asset value. Also, if you're refinancing or doing a cash-out refi during the FAFSA year, that can complicate things too, so plan accordingly!

Just wanted to add my two cents as someone who works in banking - you're making a smart move! Adding your daughter as an authorized user will absolutely help her build credit history without affecting her FAFSA eligibility at all. One thing I always tell parents is to check if your credit card company offers real-time spending alerts via text or email. Most major issuers do, and it's a great way to monitor usage without being overbearing. Also, consider having her start with small, predictable expenses like a monthly streaming service or gas for her car - this builds good payment habits while keeping utilization low. The fact that you're thinking about both her immediate financial aid needs and her long-term financial health shows you're on the right track!

As a newcomer to this community, I just want to say how helpful this thread has been! I'm in a similar situation with my son who's a junior in high school, and I've been hesitating about adding him to my credit card for exactly the same FAFSA concerns. Reading all these responses from financial aid professionals and parents who've actually been through this process has been so reassuring. It's clear that the authorized user status won't impact FAFSA calculations at all, and the long-term benefits for building credit are definitely worth it. I love the practical tips about setting spending alerts and starting with small predictable expenses - I'll definitely be implementing those strategies. Thanks to everyone for sharing your experiences and expertise!