As someone who just went through this exact situation last month, I can confirm what others have said - traditional IRA contributions absolutely do reduce your AGI for the new FAFSA calculations! I was in the same boat trying to figure out if it was worth making our 2023 contribution before the deadline. After calling around and getting conflicting information, I finally found a financial aid advisor who explained that the new FAFSA formula is much simpler - they basically just take your AGI straight from your tax return without all those add-back worksheets from the old system. Since traditional IRA contributions lower your tax AGI, they automatically lower what FAFSA sees too. We ended up making the max contribution and I'm so glad we did. The peace of mind knowing it helps with both taxes AND financial aid was worth the scramble to get it done before April 15th. For anyone still on the fence about this, I'd definitely recommend making the contribution if you can afford it!

I'm jumping in as another parent dealing with the FAFSA for the first time! My son will be starting college in fall 2025 and I've been stressing about every financial decision we make this year. This thread has been incredibly helpful - I had no idea that traditional IRA contributions would actually help with financial aid under the new FAFSA system. I keep reading horror stories about parents who made financial moves thinking they were helping with college costs, only to find out it hurt their aid eligibility instead. It's such a relief to see so many people confirming that IRA contributions reduce your AGI for both tax and FAFSA purposes now. I wish there was better official guidance on this stuff - having to piece together information from forums like this shouldn't be necessary! Thanks to everyone who shared their experiences and knowledge here.

Update your FAFSA with the correct information first, then pursue the professional judgment review. Don't wait - aid is often distributed on a first-come, first-served basis. Also, when you speak with your financial aid office, use the term "special circumstances review due to change in income" rather than "appeal" - it will trigger the correct process.

Great to see you got the corrections submitted! Just wanted to add that when you meet with those financial aid offices, bring copies of your father's unemployment documentation (termination letter, unemployment benefits paperwork) and any records showing the timeline of when his job loss occurred. The more specific documentation you can provide about the change in circumstances, the stronger your case will be for the professional judgment review. Also ask each school about their timeline for processing these reviews - some take weeks while others can turn them around much faster. Good luck with those appointments!

As a newcomer to this community, I'm finding this thread incredibly valuable! I'm in a nearly identical situation with my daughter who has Bright Futures and we're planning to pay housing costs out of pocket with our higher income. What really convinced me to complete the FAFSA after reading everyone's experiences is learning about all the "hidden" benefits beyond traditional need-based aid. The departmental scholarships, emergency loan access, study abroad funding options, and even future graduate school considerations - I had no idea about any of these! I'm particularly grateful for the practical tips about timing (submitting early in January) and setting up FSA IDs ahead of time. It sounds like the new streamlined FAFSA really has made the process much more manageable than the horror stories I'd heard from previous years. Thanks to everyone who shared their real-world experiences - you've definitely saved me from making what could have been a costly mistake by skipping the FAFSA entirely. Off to get those FSA IDs set up now!

As a newcomer to this community, I wanted to thank everyone for this incredibly informative discussion! I'm facing the exact same decision with my son who has Bright Futures covering tuition, and I was honestly leaning toward skipping the FAFSA since our income is around $185k. After reading through all these real experiences, I'm completely convinced that completing the FAFSA is the smart move. The departmental scholarship opportunities alone make it worthwhile - hearing about the $2,200 academic excellence award, the $1,800 honors program scholarship, and the $3,500 engineering department award really opened my eyes to what we could be missing. I especially appreciate the practical tips about timing (early January submission) and setting up FSA IDs in advance. The fact that the new streamlined version takes 20-30 minutes instead of hours is such a relief compared to what I was expecting based on older stories. The emergency loan access point really resonates too - even though we're planning to pay out of pocket, having that safety net for unexpected expenses or potential changes in our financial situation just makes sense. Plus the study abroad funding angle is something I never would have considered but could definitely be relevant down the road. Thanks to everyone who shared their experiences - you've saved me from making what could have been a costly oversight!

As someone who just went through this exact situation last year with my twins, I want to add a few things that really helped us. First, don't overlook work-study opportunities - even though they weren't offered in your initial package, you can sometimes request them later, and they provide tax-free income that doesn't count against future financial aid calculations. Also, consider having your twins apply to be RAs (Resident Advisors) in their sophomore year - this often covers room and board completely, which can save $10K+ per year per child. It's competitive but worth planning for early. One thing I wish I'd known sooner: some schools will let you defer enrollment for a year if you can't make the finances work. This gives you more time to save and apply for additional scholarships. Not ideal, but better than taking on crushing debt. Finally, check if your twins' schools participate in tuition exchange programs with your employer or other schools. Some universities have reciprocal agreements that can significantly reduce costs that aren't widely advertised. Hang in there - the first year is always the most stressful financially, but it gets easier once you have systems in place!

I'm a parent who went through this same nightmare with twins in 2023, and I want to emphasize something that saved us thousands: apply for EVERY small scholarship you can find, even the weird ones. We found scholarships specifically for twins ($2K each), left-handed students ($500), students whose parents work in healthcare ($1K), even one for students born in July ($750). It sounds ridiculous but these small amounts really add up! Also, some private schools have emergency grant funds that aren't part of the regular aid process - you have to specifically ask the financial aid office about "emergency" or "unexpected hardship" grants. We got an extra $5K from one school just by explaining our twin situation as an unexpected financial burden. One more tip: if you're considering Parent PLUS, apply for more than you think you need initially. You can always return unused funds, but if you need more later, you'll have to go through the application process again. The interest doesn't start accruing until the funds are disbursed to the school. You've got this - the panic stage is normal, but there are always solutions!

I'm having the EXACT same problem right now but with the PARENT signature part. My dad keeps trying to sign but nothing happens when he clicks. Has anyone had this specific issue with the parent signature portion? Is it the same fix?

Just wanted to add another potential solution for anyone still struggling with this - I work at my college's financial aid office and we've been seeing this signature page issue a LOT this year. One thing that often helps is making sure you're not using any VPN services when trying to sign. The FSA system flags VPN traffic as potentially suspicious and can block the signature process. Also, if you're using a work or school computer, sometimes the institutional firewalls interfere with the secure connection needed for signing. Try using your personal device on your home network if possible. The good news is that your application data IS being saved even when the signature fails, so you won't lose your progress!