Health & Fitness
BLOG: College Q&A, What if I Make too Much Money?
Only one thing is for sure...if you don't qualify for aid, you won't get any...but can you accurately KNOW how much in advance?
Q. Our family makes too much money to qualify for financial aid. Do we need to fill out any financial aid forms?
A. Every family should complete (minimally) the FAFSA (Free Application for Federal Student Aid) form in January of the student's high school senior year. Regardless of family income and assets, there are federal entitlement programs for every student, the most common being the Stafford loan. Additionally, many colleges require the FAFSA form in order for the student to qualify for merit awards and scholarships. These can be offered as a result of academic, athletic, artistic or even leadership excellence. Along with the FAFSA form, some colleges require the CSS/PROFILE form, and many private schools require their own aid forms. By the way, many families assume they make too much money to qualify for financial aid, but there are many factors that determine eligibility. The way to accurately determine your eligibility is to learn your EFC (Expected Family Contribution).You should do this when your student is a high school sophomore or, at the latest, a junior.
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