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THIS IS WHY THE SYSTEM IS BROKEN!!! Why should parents have to jump through all these hoops and strategize about loans just to send their kids to college? The whole FAFSA parent contribution expectation is ridiculous. I make decent money but have 3 kids and the "expected family contribution" they calculate is LAUGHABLE. No normal family has that kind of extra cash sitting around!
i know right?? and now with the new FAFSA and SAI formula my expected contribution went up even though our finances are exactly the same as last year 🙄
To summarize the key points everyone has made: 1. Parent PLUS interest rates are fixed for the academic year regardless of credit score (pass/fail only) 2. You WILL save interest by borrowing only what you need for fall now 3. You'll pay the origination fee on each loan amount 4. If your credit improves significantly, you might qualify for better private loan rates for spring 5. Check with your school's financial aid office about their procedures for splitting the loan between semesters Given all this, your strategy does have merit, even if not for the exact reasons you initially thought.
This is a common issue with the new FAFSA system. Here's what I recommend: 1. First, confirm the email is correct in the system 2. Have your ex create an FSA ID if he doesn't already have one 3. Have your daughter go to her FAFSA dashboard and check if there are any alerts about parent information being incomplete 4. Try the manual connection method someone mentioned above If all else fails, your ex can call Federal Student Aid directly at 1-800-433-3243. They can manually link him to your daughter's application. Just be prepared for a potentially long wait time. The good news is that this won't necessarily delay her financial aid package as long as everything gets completed before the school's priority deadline.
One important thing to remember for everyone dealing with verification delays: document everything. Take screenshots of your account showing the verification pending status, and any error messages you encounter. If you end up missing scholarship deadlines because of the FAFSA verification delays, many institutions will accept these screenshots as proof that you were attempting to complete the application in a timely manner. Also, once your verification is complete and you can access the application, the IRS Data Retrieval Tool (DRT) should work seamlessly to import your 2023 tax information. Just make sure the name, SSN, and filing status on your FAFSA exactly match what's on your tax return.
To directly answer your question - yes, SSN verification MUST be completed before tax data can be imported. This is a security measure to ensure that only authorized individuals can access tax information. The Federal Student Aid system has to confirm with the Social Security Administration that the information you provided matches their records before allowing access to the IRS Data Retrieval Tool. If you're worried about scholarship deadlines, contact the financial aid offices at the schools your daughter is applying to. Many institutions have adjusted their internal deadlines to accommodate for the delays in the new FAFSA system. They may allow you to submit proof that you've initiated the FAFSA process even if you haven't been able to complete it yet.
This is just making excuses for a broken system. They've had YEARS to prepare for these changes and they still messed it up. Security measure?? More like incompetence measure!!
The security processes are necessary to protect sensitive financial data. The verification process is specifically designed to prevent identity theft and fraud. While the delays are frustrating, having your tax information stolen would be far worse. If you're experiencing excessive delays (more than 2 weeks), there are escalation paths available.
One more important thing to note - make sure you understand the potential tax implications of any discharge. While closed school and TPD discharges aren't currently taxable federally (through 2025), some states may still consider it taxable income. This varies by state, so check your local rules or consult with a tax professional before proceeding.
That's a really good point - I hadn't even thought about the tax implications. I'm in California - do you know if they follow the federal non-taxable status for loan discharges?
California generally conforms to federal tax treatment for student loan discharges, so you should be fine. But always document everything and keep records of your discharge for at least 7 years in case it comes up in a future audit. The most important thing right now is getting the discharge approved.
my friend said the DOE website has special instructions 4 when ur school closed bcuz of fraud. there's like a special fraud team or something? dont know much about it but maybe look into that 2
Grace Lee
I had a similar issue and realized my student had to specifically select "Add a Parent/Contributor" in her FAFSA. Check if your student properly generated the invitation link for you - they expire after 14 days. Have them log in and check the "Action Required" section on their dashboard.
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William Rivera
•¡Gracias! Voy a decirle a mi hijo que revise eso ahora mismo. No sabía que las invitaciones expiran tan rápido.
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