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anyone know if this works the same way for parent PLUS loans? my daughter is starting her sophomore year and we're refinancing
Parent PLUS loans have a separate application process from the FAFSA. While the FAFSA determines eligibility for direct student loans and grants, PLUS loans require a separate credit check. Both biological parents and stepparents can apply for PLUS loans, but only one parent needs to apply at a time. The asset reporting simplification on FAFSA doesn't directly affect the PLUS loan application process.
Thank you all for the helpful information! I feel much better knowing we did it correctly. The whole process is so confusing, especially with the recent changes and our new marriage situation. I did make sure to include all of our household assets in my section, so it sounds like we're good to go. I'll definitely keep an eye out for any verification requests though, and make sure my daughter follows up with the schools requiring the CSS Profile for additional information from both of us.
when i was waiting for financial aid stuff last year i just kept checking my portals at each school. some schools put the info in ur applicant portal before they even email u about it. sometimes u can see ur package weeks early if u keep checking!!
I remember this anxious waiting period all too well! Just wanted to add that while your SAI will impact need-based aid calculations, schools still have a LOT of flexibility in how they build your package. My brother and I had identical SAI scores (we're twins) but got completely different packages from the same school because we applied to different programs and had different academic records. Also, if your financial situation has changed since you submitted your FAFSA (job loss, medical expenses, etc.), document everything now so you're ready to submit an appeal if needed. The formal term is "Special Circumstances Review" and most schools have a process for this.
Great point about documenting changes in financial circumstances. That documentation can be crucial if an appeal becomes necessary. Schools typically have their own forms for special circumstances reviews, and providing solid documentation right from the start can significantly speed up the process.
i forgot to mention!!! make sure ur daughter applies for summer jobs or internships with the EPA or park service! my friends kid did that and got some kind of enviro scholarship after. they need more ppl in those fields especially women!!
One more thing - make sure your daughter understands her Calculated Student Aid Index (SAI) will be based on your family income despite her independence in real life. This can lead to a lot of frustration when she sees her aid package. I recommend she have a direct conversation with the financial aid office AFTER applying but BEFORE accepting admission to clearly understand what her actual costs will be. Sometimes schools have institutional funds they can provide for students in unique situations that aren't reflected in the federal methodology. Another thing to consider - community college for the first year or two can dramatically reduce costs while she establishes state residency (if she moved to a different state). Many have specific transfer agreements with 4-year universities for environmental science programs.
The community college route is something we've discussed actually. She's reluctant because she's eager to dive into environmental science specifically, but it would be much more affordable for those general education requirements. I hadn't heard of the SAI term before - is that what used to be called the EFC? I'll make sure she understands that our income will affect her calculation even though she's supporting herself.
Yes, the Student Aid Index (SAI) is what replaced the old EFC in the new FAFSA. Same concept though - it's what the government thinks your family can pay based on the formula. Many community colleges actually have great intro environmental science courses and field experiences. She might be surprised! Plus, smaller classes mean more attention from professors who could become mentors and write recommendation letters for scholarships and transfers later.
Just wanted to add - make sure when you try again that you're using the exact same spelling of names and same email addresses as before. I've seen cases where people get locked out, try again with slight variations in their information, and it creates duplicate profiles in the system which causes even more problems.
UPDATE: It finally worked! After waiting about 30 hours, I tried logging in with an incognito window like suggested, and everything loaded properly. We were able to finish the parent contribution section and submit the whole application. The SAI score showed up instantly which was a relief. Thanks everyone for your help!
Ryan Young
That's a great first step! If you're preparing documents, make sure you have:\n\n- 2023 tax returns for both you and your spouse (if married)\n- W-2 forms from 2023 for all jobs\n- Current bank statements and investment account information\n- Social Security numbers for you and your son\n- Documentation of any untaxed income like child support or disability\n\nAlso, create a separate folder on your computer to save screenshots of each completed page as you go through the application. This has saved countless families when there are technical glitches. Good luck!
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Chloe Mitchell
That's a brilliant tip about taking screenshots! I would never have thought to do that. I'll make sure we have all those documents ready. My son's high school is hosting a FAFSA workshop next month too, so hopefully that will help with any remaining questions. I'm feeling much more confident now!
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