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Just make sure you enter your income information correctly when you use the IRS Data Retrieval Tool. With the new FAFSA, your Student Aid Index (SAI) calculation will be directly affected by your income. Also remember that the 2025-2026 FAFSA uses 2023 tax year information, so your custody arrangement during that specific period is what matters.
btw if ur worried about verification just start gathering ur docs now... custody agreement, calendar of where kid stayed, maybe school records showing ur address as primary... better to have it ready than scramble later
Wait did anyone explain the difference between subsidized and unsubsidized????? That MATTERS!!! With subsidized the govt pays interest while shes in school but with unsubsidized the interest adds up the WHOLE TIME even when she's still taking classes!!!! My daughter ended up with $8000 in EXTRA INTEREST from unsubsidized that we didn't understand!!!!!
This is an important distinction. Subsidized loans don't accrue interest while in school, during the grace period, or during deferment periods. Unsubsidized loans begin accruing interest immediately after disbursement. However, students can't simply choose subsidized over unsubsidized. Subsidized loans are need-based and have lower annual limits. Most students receive a mix of both types based on their financial need as determined by the FAFSA's SAI calculation.
kinda off topic but why did u wait so long to figure out the payment? my dad had us planning college payments like a year before i even got accepted lol
Fair question! We actually thought we had it figured out based on the financial aid package, but then her first-choice school came through with a late acceptance off the waitlist about a month ago. The new school has higher tuition than the one we had been planning for, so we had to quickly recalculate everything. Lesson learned about having backup financial plans!
i waited until december last year and the site crashed like crazy. took me THREE DAYS to submit because of all the errors. don't procrastinate like me lol. and if you get stuck, use the chatbot on studentaid.gov - it actually helped me fix an error when i couldn't figure out why my form wouldn't submit
One more thing to check - make sure you're using an UPDATED browser when you go to submit. My sister tried using an old version of Internet Explorer last year and nothing worked right. Chrome and Firefox usually work best for the FAFSA site. And clear your cookies/cache if you run into weird errors!
BEWARE that if your cousin gets any outside scholarships he HAS TO report them to financial aid office!!! My kid got a $2000 Kiwanis scholarship and didn't tell the school and they found out and REDUCED his aid package by $2000!!!! Said it was "scholarship displacement" which is COMPLETE BS but apparently legal in most states!!!!!
This is unfortunately correct in many cases. Federal rules require schools to adjust aid packages when outside scholarships create an "over-award" situation (total aid exceeding cost of attendance or financial need). However, good financial aid offices will try to reduce loans first rather than grants. Some states (Maryland, Pennsylvania, New Jersey) have passed laws against scholarship displacement, but it's still common practice elsewhere.
Thank you all SO much for this incredibly helpful information! I've made notes of all the key points: - Submit FAFSA as close to October 1 as possible - Check Michigan's March 1 deadline AND individual school deadlines - Look into the CSS Profile for private schools - Consider work-study opportunities - Be strategic about outside scholarships This has been so much more helpful than the confusing info on the financial aid websites. Really appreciate everyone taking the time to share your knowledge and experiences!
Happy to help! One last tip - make sure your cousin lists at least 4-5 schools on the FAFSA application, even if he's not 100% sure about applying to all of them. You can always add more schools later, but having them listed from the start ensures they get the information as early as possible. Best of luck to both of you!
Aaron Boston
did anyone notice if the sai score is different from what the old efc would have been? trying to figure out if the new formula helps or hurts us
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Sofia Peña
•Great question! Our SAI came in about $3,800 lower than what I calculated our EFC would have been under the old system. So for us, the new formula seems more favorable. But I think it varies a lot depending on your specific financial situation and number of kids in college.
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Sophia Carter
One important note for everyone: once your FAFSA is processed, make sure to check if you've been selected for verification. About 25% of FAFSA applicants get selected for this additional step, and it's not always immediately obvious in the portal. Look for a notification in your messages center or a verification flag on your SAI report. If selected, you'll need to submit additional documentation to each school you've applied to, and this can add several more weeks to the financial aid process. Don't wait for schools to contact you - be proactive and check your verification status as soon as your FAFSA is processed.
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Sofia Peña
•Thanks for mentioning this! I just checked and thankfully we weren't selected for verification. Is there any way to know why some applications get selected and others don't?
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