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when my son went to NYU we got parent plus loan and its been fine for us. we just add it to our monthly bills. yeah the interest is high but what else can u do right? kids education comes first. btw if ur income isnt super high also check if ur eligible for that Pell Grant thing too we got like $3800 from that
Just to clarify: Pell Grants are awarded to the student based on financial need, not to parents. If the student wasn't already awarded a Pell Grant in their initial financial aid package, they likely wouldn't qualify based on the FAFSA's SAI calculation. Parent PLUS loans and Pell Grants are completely separate aspects of financial aid.
oh oops i got confused lol. we did get some grant but i guess it wasn't the pell thing. financial aid is SO confusing!!!
Thanks everyone for all the helpful advice! I just got off the phone with the financial aid office, and they actually recommended we start the Parent PLUS application process now, rather than waiting. They said we can submit the application even before officially accepting the aid package, which gives me some peace of mind about the timing. They also mentioned they have an institutional payment plan that might help us reduce the loan amount we need to take out. Going to look into both options this week and weigh the pros and cons.
That's great that you were able to get clarity directly from the school! It sounds like you're taking a really smart approach by exploring both the Parent PLUS loan and the institutional payment plan options. The payment plan could definitely help reduce how much you need to borrow, especially given those high interest rates others have mentioned. Good luck with whatever option works best for your family's financial situation!
UPDATE: My daughter just finished her section and we got to see the summary page. The tax information that was imported looks accurate - they pulled our AGI, income, and tax figures correctly from our 2023 return. So the direct data exchange actually worked perfectly! Just wanted to follow up in case anyone else has this concern.
That's great! You're one of the lucky ones. About 70% of applicants have a smooth DDE experience like yours, but the other 30% encounter various issues with the tax data transfer. Make sure to download and save a PDF copy of your complete FAFSA confirmation for your records.
Thanks for sharing your update! It's really helpful to hear that the DDE worked smoothly for you. As someone who's about to start the FAFSA process with my own kid, I was getting nervous reading about all the potential issues with tax data not importing correctly. Good to know that when it works, it really does make the whole process much faster than the old system. Did you notice any other differences in the application compared to what you might have expected from previous years?
Did anyone else notice that the whole FAFSA system has been a complete disaster since they "simplified" it? My cousin's daughter had her application stuck for MONTHS and almost lost her scholarship. The government can't do anything right!
I'm so glad you were able to get this resolved! Your situation is exactly why I always recommend keeping detailed notes about every step of the FAFSA process. For anyone else reading this thread who might be dealing with similar issues, here are some additional tips that have helped me and my friends: 1. Screenshot everything - your summary pages, error messages (or lack thereof), and any confirmation numbers 2. Try accessing your FAFSA at different times of day - sometimes the system shows different information during off-peak hours 3. If you're a parent contributor, make sure you're logged into the correct account when reviewing information 4. Double-check that your FSA ID is properly linked to your Social Security number The high school completion date issue you experienced is actually more common than people realize. I've seen it happen when students transfer schools or do dual enrollment. It's frustrating that these "hidden" errors aren't visible to us, but at least there's usually a solution once you can get through to someone who knows the system well enough to find them. Hope your daughter gets her aid package soon and everything works out for her college plans!
Yes, you do need to report 529 plans on the FAFSA, but how they're reported depends on who owns the account: - If the 529 is parent-owned (with your daughter as beneficiary): It's reported as a parental asset, which has a much smaller impact on aid eligibility (only about 5.64% of the value counts against aid). - If the 529 is owned by your daughter: It would be reported as a student asset, which has a bigger impact (20% counts against aid). - If the 529 is owned by a grandparent or other relative: The new FAFSA no longer requires reporting distributions from these accounts, which is a positive change from previous years. Contact the university's financial aid office directly to discuss mid-year transfer opportunities - they can often provide specific guidance for your situation.
Just wanted to add one more thing that might help - if your daughter hasn't already, she should create her FSA ID (studentaid.gov) as soon as possible since both of you will need to electronically sign the FAFSA. The FSA ID creation process can sometimes take a few days to verify, and you don't want that to delay your FAFSA submission. Also, make sure you have your 2022 tax returns handy since the 2024-2025 FAFSA uses prior-prior year tax information. Good luck with everything!
Emma Davis
update us on what happens!! i hope ur daughter gets some help with this situation!!
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Natasha Volkova
•I definitely will. She has appointments with both financial aid and the Dean of Students tomorrow. Fingers crossed they can help!
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Andre Lefebvre
I'm so sorry this happened to your daughter - what a devastating betrayal of trust. While others have given great advice about emergency funds and legal options, I wanted to mention that she should also consider contacting her state's consumer protection agency or attorney general's office. Some states have specific protections for educational loan misuse, especially when there's documented evidence of the intended purpose. Also, if she has any joint accounts or financial ties with her father, she should consider protecting those immediately. Sometimes parents who misuse education funds will also access other shared financial resources. The fact that he's flaunting the boat purchase on social media while his daughter faces homelessness is particularly egregious - make sure she screenshots those posts as potential evidence. I really hope the Dean of Students and financial aid office can provide some emergency relief tomorrow!
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