As another newcomer to this community, I just want to say how incredibly helpful this entire discussion has been! I'm a California community college student who was literally about to submit my FAFSA with the Medicare box checked because I couldn't find Medi-Cal anywhere on the form. Thank goodness I decided to search for help online first! Reading through everyone's experiences has been such an eye-opener - especially learning that Medi-Cal is just California's version of the federal Medicaid program. The terminology confusion is so real! What really shocked me was discovering that correctly indicating these benefits can actually improve your aid eligibility through things like the simplified needs test. I had absolutely no idea these weren't just basic demographic questions. Thank you especially to @Madison King for the professional insight and to all the students who shared their stories - it's so comforting to know I'm not alone in this confusion. I'm heading back to my FAFSA right now to make sure I check Medicaid instead of Medicare. This community is a lifesaver for first-time FAFSA filers like me!

As a newcomer to this community, I'm incredibly grateful to have stumbled upon this discussion! I'm a first-generation college student in California and was completely overwhelmed when I hit this exact question on my FAFSA. My family has been on Medi-Cal for years, but I had never heard the term "Medicaid" before and was genuinely confused about whether we had any federal benefits at all. I was actually about to call my older sister to ask if she knew what to check, but finding this thread has answered all my questions and then some! Learning that Medi-Cal is simply California's name for the federal Medicaid program makes so much sense now. What's really blown my mind is discovering that correctly indicating these benefits isn't just a formality - it can actually impact your Student Aid Index and potentially qualify you for better aid through the simplified needs test. As a low-income student, every dollar of aid matters tremendously for my family, so knowing that I almost missed this opportunity by not understanding the terminology is both scary and motivating. Thank you to everyone who shared their experiences and especially to the financial aid professional who explained why these questions are so important. This community is amazing for helping students like me navigate this complex process!

This thread has been incredibly eye-opening! I'm a newcomer here but dealing with the exact same situation - my spouse and I own a small landscaping business together and I was completely overwhelmed trying to figure out the FAFSA reporting. I'm really grateful that Heather and Oscar clarified the elimination of the small business exclusion - I was about to make the same mistake based on the earlier advice. It's frustrating that such a major change wasn't more widely publicized, but at least now I know we need to report our business net worth split 50/50. For anyone else reading this thread, definitely double-check the current year's official FAFSA instructions since it sounds like there have been significant changes recently. Thanks to everyone who shared their experiences - this community is such a valuable resource for navigating these complex financial aid requirements!

Hi everyone! I'm new to this community and going through the exact same confusion with my husband regarding our jointly-owned food truck business. After reading through this entire thread, I'm honestly feeling a bit whiplashed by all the conflicting information about the small business exclusion! It sounds like there have been major changes that weren't well communicated. Can someone point me toward the most current, official source for 2025-26 FAFSA business reporting requirements? I want to make absolutely sure I'm following the right guidance before we submit our application. We have about $45,000 in business net worth and I definitely don't want to mess up our son's financial aid by reporting incorrectly. This thread has been incredibly helpful for understanding the 50/50 ownership split approach, but I want to triple-check the current rules about whether business assets need to be reported at all. Thanks in advance for any guidance!

One thing I haven't seen mentioned yet - make sure you understand exactly what type of benefits your twins are receiving before reporting anything. SSI (Supplemental Security Income) and SSDI (Social Security Disability Insurance) have different reporting requirements and different age cutoffs. SSI typically ends at 18, but SSDI can continue if the child is a student. Also, if your twins have any other disabilities that might qualify them for continued benefits as adults, you may want to explore that with Social Security before assuming the benefits will definitely end. This could affect both your FAFSA reporting strategy and your family's financial planning. The Social Security Administration has specific procedures for students transitioning from childhood to adult benefits that are worth understanding fully.

Just wanted to add one more resource that might help - the Federal Student Aid website has a specific section about special circumstances that includes income changes like disability benefits ending. There's also a worksheet you can download that helps you organize all the information financial aid offices typically need for professional judgment reviews. I used it when my nephew went through this process and it made sure we didn't miss any required documentation. The worksheet is called "Special Circumstances Documentation Checklist" and it's really helpful for keeping track of what you've submitted to each school. Also, don't forget that some schools have their own special circumstances forms in addition to the standard FAFSA, so check each school's financial aid website for any additional requirements.

As someone who just discovered this amazing community while frantically googling FAFSA questions at 2am, I can't tell you how relieved I am to find this thread! I'm also dealing with the exact same confusion about retirement accounts for my son's FAFSA application. What's been driving me crazy is that every "expert" article online seems to have slightly different information, and I was starting to think I'd never get a straight answer. But reading through all these real experiences from actual parents who've successfully navigated this process has been incredibly reassuring. The tip about calling your 401(k) provider directly for official confirmation is brilliant - I'm definitely doing that tomorrow. And I had no idea about the timing strategy for the asset snapshot day or that increasing retirement contributions could actually help with aid eligibility. These are exactly the kinds of practical insights that make all the difference but never show up in the official guides. Thank you to everyone who shared their experiences here, especially to the financial aid professional who confirmed everything. This thread should honestly be pinned as required reading for all first-time FAFSA parents!

As a newcomer to this community, I just want to say how incredibly helpful this entire discussion has been! I stumbled across this thread while researching FAFSA asset reporting for my daughter's application, and I'm amazed by the depth of knowledge and real-world experience shared here. The clear confirmation that 401(k) and 403(b) accounts are NOT reported as FAFSA assets is such a relief - I was getting conflicting information everywhere else I looked. But what really impressed me were all the strategic insights about timing contributions, the asset snapshot day, and how retirement contributions can actually help by lowering AGI. These are the kinds of practical tips that can make a real difference but are never mentioned in the basic guides. Special thanks to everyone who shared their personal experiences and to the financial aid professional who provided official confirmation. This thread has transformed what felt like an overwhelming and confusing process into something I feel confident tackling. This community is truly invaluable for parents navigating the financial aid maze for the first time!

I'm going through the exact same nightmare right now! My mom submitted her Parent Plus application 24 days ago and we're still stuck at "processing" with absolutely no updates. Reading through everyone's experiences here has been both comforting and terrifying - comforting to know we're not alone, but terrifying to see how widespread these delays are! I had no idea the system was this broken this year. My tuition deadline is in 5 weeks and I'm honestly starting to lose sleep over it. I'm definitely going to call my financial aid office tomorrow morning to ask about emergency payment plans, and then try FSA if I can get through. It's absolutely ridiculous that a simple credit check is taking a month with zero communication. Thanks for posting this Dylan - this thread has been more helpful than anything I've found on the official FSA website!

Wow, reading through all these experiences is both eye-opening and terrifying! I'm new to this whole process (first year college student) and my mom just submitted her Parent Plus application 3 days ago. Based on what everyone is sharing here, it sounds like I should mentally prepare for at least a 3-4 week wait minimum. The lack of transparency from FSA is really concerning - you'd think they'd at least send periodic status updates or give realistic timeline estimates on their website. I'm definitely going to proactively call my financial aid office next week to ask about emergency payment options before we get closer to any deadlines. Thanks everyone for sharing your timelines and advice - this thread is way more informative than anything I've found on the official government websites!