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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!
As someone who just went through this exact same situation with my son last month, I can confirm what others have said - "processed" and "closed" appearing together is totally normal! It's just really poor wording on their part. The key thing to look for is that SAI number showing up, which it sounds like you have. That means the calculation is complete and the schools should receive the data soon. We were stressed about the same thing, but his financial aid packages started coming in about 2 weeks later from his schools. One tip: create a simple spreadsheet to track each school's financial aid requirements and deadlines. Some wanted additional forms by specific dates that weren't mentioned anywhere on the FAFSA site. Having everything organized in one place really helped us stay on top of it all!
why does evryone act like this is complicated??? you get accepted, you get financial aid, you get bill, you pay whats left. its not rocket science lol
@Grace Patel I completely understand your frustration! As a fellow first-time college parent, I went through this exact same confusion last year. Here's what I wish someone had told me upfront: The key is understanding that there are actually THREE different timelines running simultaneously: 1. Financial aid timeline (FAFSA → SAI → award letter) 2. Billing timeline (when actual bills are generated) 3. Payment timeline (when money is due) For State University specifically, based on what others have shared, you're looking at award letters in April/May, but bills won't come until late July/August. The disconnect between these timelines is what makes this so confusing! My advice: Call State's bursar office this week and ask for their specific billing calendar for Fall 2025. Also ask about payment plan enrollment deadlines - as @Liam O'Reilly mentioned, these can be much earlier than you'd expect. Set up both parent portal access AND calendar reminders for each deadline. Don't let anyone make you feel bad for asking these questions - navigating college finances is genuinely complex, especially when schools don't communicate clearly about timelines!
@Cassandra Moon Thank you so much for breaking this down into those three timelines - that s'the clearest explanation I ve'gotten yet! I never realized they were separate processes running at the same time. I m'definitely calling the bursar office tomorrow morning and getting those specific dates. It s'reassuring to know other parents have felt this lost too. The lack of clear communication from schools really doesn t'help families who are new to this process.
Thank you all for the advice! I'm definitely convinced to tackle the Sallie Mae loans first while keeping my federal loans on an income-driven plan. I'll check out the SAVE program on StudentAid.gov and see if I can get my private loans refinanced to a lower rate. Such a relief to have a clear plan now!
Smart decision, Emma! You've got a solid plan. One more tip since you mentioned refinancing - shop around with multiple lenders (SoFi, Earnest, CommonBond, etc.) as they all have different qualification criteria and rates. Some will give you rate quotes without a hard credit pull initially. Also, make sure to apply for refinancing soon after you start your new job - lenders like to see stable employment history. Good luck with your new career and tackling those loans!
This is such great advice about shopping around for refinancing! I'm in a similar situation and didn't realize you could get rate quotes without affecting your credit score initially. @Emma Davis - definitely take advantage of that new job status when applying. Lenders love seeing recent graduates with stable employment. Also, some employers offer student loan repayment assistance as a benefit, so might be worth checking if your new company has any programs like that!
Sunny Wang
Update: I used the Claimyr service that someone mentioned earlier and it actually worked! Got through to a FAFSA agent in about 40 minutes (without me having to sit on hold). They verified my identity, asked for my passport information and ITIN, and sent me a secure upload link for my documents. Now just waiting for the verification to process. Thanks everyone for your help!
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Statiia Aarssizan
•Great to hear! The verification typically takes 24-48 hours after document submission. Once verified, you should be able to complete the parent portion of the FAFSA. Remember to link your tax information using your ITIN if you filed taxes in the US.
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Hugh Intensity
•so happy for you!!! dealing with fafsa is such a nightmare especially for international parents. hope everything goes smooth from here!
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Miguel Harvey
I'm so glad this worked out for you! As someone who's been through the FAFSA nightmare with international documentation, I just wanted to add that once your identity is verified, make sure to save/bookmark that verification confirmation page if they give you one. Sometimes the system glitches and asks you to verify again later, and having that confirmation number can save you from going through this whole process again. Also, if your daughter's school uses their own financial aid forms in addition to FAFSA, get those submitted ASAP while this is all fresh in your mind. Good luck with the rest of the process!
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