I'm an accountant who works with small business owners filing FAFSAs. For a horse training business where the primary value is the skill of the trainer, you're correct that the business itself doesn't have a transferable value like a retail store would. Here's what I recommend: 1. Review Schedule C from your tax return 2. Identify depreciable business assets from Part I, Line 13 3. Calculate current fair market value of those assets 4. Add business bank account balances 5. Add accounts receivable (money owed to the business) 6. Subtract any business loans or credit card balances used for business This gives you the net worth of business assets, which is what FAFSA is actually asking for. They don't expect you to value intangible assets like skill, client relationships, or reputation for a small service business.

As someone who just went through this exact situation with my landscaping business last year, I can relate to the confusion! The key thing that helped me was realizing FAFSA isn't trying to value your husband's expertise or client base - they just want to know about physical assets that could theoretically be converted to cash. For our business, I listed equipment (mowers, trailers, etc.) at current market value (not what we paid), added our business checking account balance, then subtracted the remaining balance on our equipment loan. Came out to about $23,000. One tip: if you use any equipment for both business and personal use (like that horse trailer), you'll want to estimate the percentage that's business vs personal. I used 80% business for our trailer since we occasionally use it for personal hauling. The good news is service businesses typically have much lower asset values than retail or manufacturing businesses, so it shouldn't impact your daughter's aid eligibility too much. Just be consistent with whatever you report on your taxes!

anybody know how long it takes to get the sai score thing now? my son submitted 3 weeks ago and still nothing

As someone who also just went through this process, I can confirm what others have said - the new FAFSA really is designed this way! I was initially panicked when it skipped over all the detailed financial questions I was expecting based on what older parents had told me about previous years. But it turns out that if you qualify for the simplified needs test (which sounds like you do with your income level and Medicaid coverage), the system automatically assumes you'll get maximum aid and doesn't need all those extra details. My daughter's application processed smoothly and she received a great aid package. The key thing is just making sure your basic information is accurate since that's what really matters for verification purposes. Don't stress - you did everything right!

As a newcomer to navigating financial aid for college students, this conversation has been incredibly enlightening! I'm currently going through the same situation with my son who's also finishing his freshman year. Based on what everyone has shared, it sounds like the key takeaways are: 1) Schools do send aid packages every year, but timing varies significantly 2) Returning students often get their packages later than incoming freshmen 3) Always check the student portal - many schools have moved away from mailed letters 4) Don't hesitate to call if you're concerned, as documents can get lost in the system 5) Aid packages can change year to year even with similar finances I'm definitely going to have my son check his student portal this week and will keep the Claimyr suggestion in mind if we need to contact the financial aid office. Thanks to everyone for sharing their experiences - it's so helpful to know we're not alone in this process!

As someone who just went through this process with my daughter last year, I can confirm that schools definitely send aid packages annually! The timing can be frustrating though - we didn't get her sophomore package until late May, which made summer planning stressful. One thing I wish I'd known earlier: if your daughter's school uses work-study as part of her aid package, those positions fill up fast! Even if the aid letter comes late, it's worth having her check with the student employment office early to see what work-study jobs might be available. We learned this the hard way when all the good on-campus jobs were taken by the time we got her package. Also, don't assume the aid will be exactly the same as freshman year. Our daughter's package actually improved slightly because she qualified for some sophomore-specific scholarships we didn't know existed. Every school handles this differently, so hang in there!

I'm going through the exact same nightmare right now! Been getting that same "Unable to complete this action" error for weeks and it's driving me insane. Reading through all these responses gives me so much hope though - I had no idea this was such a widespread issue with the new FAFSA system. I'm definitely going to try the 3am submission trick tonight with all my browser extensions disabled, and I'll also reach out to my school's financial aid office tomorrow morning to explain the situation. It's such a relief to know that schools are being understanding about these technical problems and that there are workarounds that actually work. Thanks everyone for sharing your experiences and solutions - this community is a lifesaver!

I'm just starting my FAFSA journey as an incoming freshman and this thread is both terrifying and reassuring at the same time! It's scary to see how widespread these technical issues are, but it's also comforting to know that schools are being understanding about the situation and there are actual solutions that work. I'm definitely bookmarking all these tips - the 3am submission trick, disabling browser extensions, trying the mobile app, and most importantly documenting everything with screenshots. It sounds like having that paper trail is crucial when working with financial aid offices. Thanks to everyone who shared their experiences, especially Sofia for coming back with the successful update! This gives me a game plan if (when) I run into similar issues. One question - for those who had success with the mobile app, did you find it worked better than the website even during normal hours, or was it mainly helpful as an alternative when the website was completely broken?

One thing nobody mentioned - some employers now offer student loan repayment assistance as a benefit. My company pays $150/month toward my loans. But most require the loans to be in YOUR name, not your parent's. That was actually my motivation to refinance my mom's Parent PLUS loans into my name - to qualify for this benefit. Just something else to consider in your decision!

Just wanted to add - if you do decide to refinance, shop around with multiple lenders! I got quotes from SoFi, Earnest, CommonBond, and a few others before choosing. The rates and terms can vary quite a bit between lenders even with the same credit profile. Some also have different requirements for employment history. I ended up going with a lender that wasn't my first choice because they had the most flexible employment verification requirements for recent grads. Also, most lenders will do a soft credit pull for the initial quote which won't hurt your credit score, so there's no harm in getting multiple quotes to compare.