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Can you spell EFC on the FAFSA?

September 12, 2018

We are entering the season when parents of college age parents start completing the FAFSA form with the hope of catching a small amount of money from the murky pond of financial .
aid. This is no small task with over 100 inputs.(105 to be exact). That being said, the questions are straightforward with most easily answered off the top of your head plus having your tax return in front of you. For those who usually file extensions, you must either file your return or go back and revise the estimated numbers after a return is filed. Don't delay as some states award aid on a first come basis. What else can you do:
Spend savings of the child early so it won't be included on prior years forms. Ideally spend in before thier junior year so it isn't included at all.
Contribute to retirement accounts so assets are not included in the expected family contribution (EFC).
Don't necessarily sell winning stocks, capital gains are treated as income.

Best wishes on the application progress and remember that college is what the student makes of it and a great education can be had at any institution with a desire to learn.