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Understanding Financial Aid Calculators

Hi Friend,

It’s September! 

Are you prepared for fall? As we ring in the new school year–whether high school or college–planning ahead remains a vital factor in staying one step ahead of the financial planning and admissions process. 

The Department of Education has announced that the student loan repayment pause and interest waiver has been extended until January 2023, plus they introduced a new student loan forgiveness program. These changes and more were announced as part of the Student Debt Relief Plan. As more details evolve, we will keep you posted on the next steps to take. 

The 2022-2023 FAFSA and CSS Profile becomes available on October 1st. Did you know there are three financial aid calculators, the FAFSA, CSS Profile and Consensus? This month’s blog explains the different financial aid calculators. 

Now that we’ve said our good-byes to summer, it’s time to set the early stages of your student’s college financial plan in motion. On Wednesday, September 14th at 12:00 pm PST, I will host a live How to Survive Paying for College webinar where you can learn the steps to lower your cost of college and learn about upcoming changes to the FAFSA and EFC. Reserve your spot today! 

If you have questions about paying for college, financial aid or student loans, please sign up for a complimentary college funding consultation today. 

– Trixie

Let’s Talk!

FACT SHEET: President Biden Announces Student Loan Relief for Borrowers Who Need It Most

A three-part plan delivers on President Biden’s promise to cancel $10,000 of student debt for low- to middle-income borrowers

President Biden believes that a post-high school education should be a ticket to a middle-class life, but for too many, the cost of borrowing for college is a lifelong burden that deprives them of that opportunity. During the campaign, he promised to provide student debt relief. Today, the Biden Administration is following through on that promise and providing families breathing room as they prepare to start re-paying loans after the economic crisis brought on by the pandemic.

Understanding How Financial Aid Calculators Work

For all the seniors and parents who have been on the hunt for the information needed to complete the FAFSA and CSS Profile financial aid applications, you may have come across the idea of financial aid calculators. You might also be wondering what a financial aid calculator is and just how do they work? 

There are three main calculators that colleges will use, all of which follow a set of rules specific to each calculator. The three calculators that we will cover are: the FAFSA, CSS Profile, and Consensus.

How to Survive Paying for College Free On-Demand Webinar

Enroll in our FREE on-demand webinar and learn how to calculate: 

  • Expected Family Contribution (EFC)
  • Cost of Attendance (CoA)
  • FAFSA and CSS profile
  • Public versus private costs
  • How you can afford college without jeopardizing retirement

Enroll for free now! Just click the button below!

Westface College Planning is here to help ensure your planning is where it needs to be. Contact us with any questions you might have for the years to come!

Ready for your own success story?

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If you’re a typical parent with college-bound students, you’re probably overwhelmed. You want to help your sons and daughters make the right choices and prevent overpaying for their education. You’re not alone! We’re here to help. Schedule your free consultation today – click below to get started!

Catch our free, on-demand webinar:

How to Survive Paying for College

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Join Beatrice Schultz, CFP® for our on-demand webinar, where she provides parents with the exact steps that often greatly lower the cost of college, even if there’s little time to prepare.