Angel
How do i increase my financial aid in the second year of college?
Im not getting enough in financial aid.. how do i increase this #financial aid #financial-aid
2 answers
Luiz Belmiro
Luiz’s Answer
I understand that everything is a matter of time.
First, we need to know the following: "The Free Federal Student Aid Application (FAFSA) bases the expected family contribution (EFC) on income and tax data from the previous year, also known as the base year".
When filling out the application we must take into account that some credits cannot be contratados, as in an ordinary year.
Let me explain it better for you: if you need to sell assets, like stocks, to defray college expenses, avoid doing it in the short term, that is, in the base year that precedes the completion of the form. This is a kind of strategy for legally reducing household income.
On the other hand, if the family has to pay debts to reduce its reportable assets, this must be done before completing the FAFSA.
The most important thing is not to miss the deadline.
Good luck!
Taj Jones
Taj’s Answer
Hi Angel,
Financial aid is determined by many factors (FAFSA, dependency status, income, merit, institutional awards, etc.). Some of these you can influence, others you cannot. I've had students whose financial aid awards changed dramatically from one year to the next due to their income, change in dependency status, or a new institutional award was made available that they happened to qualify for.
Speak to your financial aid office and make sure you have reviewed all aid that you can qualify for. Also, don't forget to check out scholarship websites such as Scholarships.com, Fastweb.com and Chegg.com/scholarships. Don't forget to inquire about federal work study.
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