FAFSA-Coaching for more money!

This one is short and sweet.

I am a fan of Jeannie Burlowski, a college admissions and financial strategist from Minnesota. Her book, Launch, is a terrific, detailed resource noted in my book, ENOUGH! If you have a Senior in High School, NOW is the time to file for your FAFSA. The longer you wait to file in many states, including mine, the less chance you have of getting the best package. 2/3rds of all states hand out money on a first-come, first-served basis. Now is the time to get in line.

Jeannie has an article for YOU! Go to her website, Jeannie Burlowski, and sign up for her free newsletter every week. You can then download her article, “30+ Common FAFSA Mistakes and how to avoid them.”

The FAFSA has over one hundred detailed questions with little guidance as to the definitions of each category. Refer to her article when you start inputting data into your FAFSA. Getting this right, in many cases, could increase your access to both grants and loans. Get it wrong, and you lose out on lots of money you might otherwise have qualified for.

FAFSA is a lot like doing your taxes online, only not as friendly as TurboTax, or H & R Block, or Jackson Hewitt. You have to know and understand how “they” define a household, children, parent, etc. Don’t mix up college financing rules with your personal definitions. It could be costly or plain wrong. Either way, it will not benefit you and your student.

BIG TIP- Do this work when you are really focused, alert, and have gathered all the relevant information. For example, you will need tax returns for the years your student is a sophomore and junior in high school. Data from those returns must be entered exactly as they appear in the tax return.

Grandparents, share this with your adult children, especially if this is their oldest going to college. Also, if you are a blended family ( yours, mine, and maybe ours) it is CRITICAL to get this right.

I cannot emphasize this enough. The EARLY BIRDS get the best breakfast! Be an early bird, but take the time to do it right. Read what Ms. Burlowski says and follow her guidance. The details ARE important.

Next time, let’s review earn to learn options. With the jobs market the way it is, it is a realistic choice to prevent student loan overload.

Until Next Time,

All My Best,

Bonnie Burkett