December 2015 Newsletter
End of Year FAFSA Tips & More
Beatrice Schultz, CFP®
Westface College Planning
Photo credit: Hynci
Have a Sophomore in high school? New FAFSA Rules Started the Clock Ticking to Get Your Plan in Order before the End of 2015
Have you started planning for college yet? It might seem early to have a college funding plan in place if your daughter or son is only 14 or 15. College is 3 years away, but the time to start detailed planning is actually now.
The FAFSA (Free Application for Federal Student Aid) is the core application for all government and some institutional financial aid. It will ask for information related to the base year of income from two years prior to when a student enrolls in college (this is a NEW FAFSA rule). If your student is a sophomore now (in Fall 2015) the base year for the FAFSA (s)he’ll need to file on January 1, 2018 will be the 2016 income year.
How to Survive Paying for College Workshops & Webinars
- How to Survive Paying for College Workshop – San Carlos
Wednesday, January 20 – 7 to 8 PM
- How to Survive Paying for College Presentation – Davis High School
Wednesday, January 27 – 7 to 8 PM
FAFSA Tips: What to Do Before the End of 2015 to Boost Your Odds for More Financial Aid
Changes coming to the application process make 2015 tax returns doubly important for college-bound students.
Applying for financial aid will soon be less of a hassle for college students and their families. Beginning with the 2017-2018 academic year, the Free Application for Federal Student Aid-used to determine financial aid from the government as well as colleges-can be filed three months earlier, or as early as October 1, nearly a year before a student would start classes the following fall. This shift in timing will allow completed tax returns to be used to report income and assets on the FAFSA.
About Westface College Planning
If you are a typical parent with college bound students, you’re probably overwhelmed by all the research necessary to help your sons and daughters make the right choices and prevent overpaying for their education.
You are not alone!
Get the facts. Educate yourself to potentially save tens of thousands of dollars on a single college education. Parents of more than one child heading to college in the next few years, can save even more.
At Westface College Planning, we work with families to help you plan for and navigate the “paying for college” process. We teach you how to minimize your out-of-pocket expenses, maximize financial aid eligibility, understand the best way to navigate through the college selection process and prioritize your sources of college funds to protect your life savings!
More information at WestfaceCollegePlanning.com.
December 2015 – Issue #50
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