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ok but why are they making us use 2022 tax info for the 2025-2026 year anyway?? thats like 3 years old by then! my husbands income changed A LOT since 2022! this is so stupid, the whole system is broken
You're absolutely right that 2022 tax information might not reflect your current financial situation. The good news is that if your family's income has changed significantly since 2022, you can request a financial aid appeal (sometimes called a "professional judgment" or "special circumstances review") directly with your school's financial aid office after you receive your initial aid offer. Be prepared to provide documentation of the income changes.
UPDATE: Just got the email that my FAFSA has been fully processed and my SAI calculation is complete! It took 6 days total from submission to completion. The email says my data was successfully retrieved from the IRS and my information has been sent to the schools I selected. Thanks everyone for your help and advice. For anyone else experiencing this, it seems the new system does work - it just takes some patience!
my sister had this issue and it turned out she didn't complete the "additional financial information" section even though it didn't show as incomplete anywhere. check that section maybe? also does your SAI calculation show up anywhere? if not something is definitely still incomplete
One thing I haven't seen mentioned yet - Parent PLUS loans can be eligible for Income-Contingent Repayment (ICR) if you consolidate them into a Direct Consolidation Loan. This can make monthly payments more manageable if you're struggling. Not a reason to take the loan necessarily, but good to know the option exists.
Update: I called my daughter's school and asked about payment plans. They offer a 10-month interest-free plan that would make our payments around $850/month. That's actually doable for us! So much better than taking on more debt. Thank you all for pointing me in the right direction!
dont forget CSS profile too!! some private schools need that ON TOP OF fafsa and its different formula. my kid applied to 7 schools & 3 needed CSS plus other random forms. total mess.
One more important thing - make sure your twins check their email regularly (including spam folders). Many schools will email when aid packages are ready or if they need additional documentation. Also, if the May 1 decision deadline is approaching and you still don't have aid information from their top choices, you can request an extension. Most schools will grant a reasonable extension if the delay is due to pending financial aid information.
Honorah King
my roomate had both types of loans and said the biggest benefit was when she lost her job after graduation, she could put her federal loan on hold but had to keep paying the private one even tho she had no income. thats why i took all the federal loans i could get even tho some of my private options had slightly better rates
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Demi Lagos
•That's a really valuable perspective, thank you. The safety net of being able to pause payments during hardship is definitely worth considering.
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Vera Visnjic
One final point to consider: if your daughter takes the federal loan first and then the private loan for the remainder, she'll end up with approximately 25% of her debt having federal protections. That's significantly better than 0%. Even this partial protection could be valuable in the future, especially since we can't predict economic conditions or personal circumstances years down the road.
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Demi Lagos
•You've all convinced me! She'll take the federal loan first and then use the private loan for the rest. Having some portion protected seems like the smart approach, and the administrative aspect of managing two loans doesn't seem that burdensome compared to the benefits. Thank you all for your helpful insights!
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