July 11, 2006

Welcome!

Posted in Misc at 6:37 PM by Joe From Boston


Today I’m starting a new blog with the goal of helping parents understand the crazy world of Financial Aid. It’s a jungle out there, literally. As a recent graduate and someone who now works in the industry, I want to give you an insight into what goes on, what the process for Financial Aid is, where you can find help, and how to keep your sanity amidst all the paperwork that your child will probably hand off to you.

So stay tuned, learn a little and we’ll get you through it.

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2 Comments »

  1. Hi Colleen,

    Having never worked in a Financial Aid Office, I can’t tell you for certain what will happen, but it’s likely that the sudden influx of cash, if on your tax returns, will affect your financial aid award.

    I can’t offer you financial advice, but I can tell you what I would do. If I were in your shoes, I would document everything – the purchase and sale agreement, photo copy all documentation you receive regarding the amount your house sells for and be ready to present a paper trail of where that money has gone, (e.g. what’s gone to your morgage holder, what’s gone to your bank account, etc).

    I’d also speak with a professional tax person for advice – they might have encountered this before and be able give you sound advice! It probably wouldn’t hurt to bring any documentation you have that you are actively looking to purchase a house, for example a pre-approval from your bank.

    Also, I’d call your child’s financial aid office, explain what happened and that you have it all documented and can easily show them at their leisure. With all the children attending college/university every year, they’ve probably encountered this situation before.

  2. Colleen Miller said,

    I have a question and I’m hoping you can answere it. I may be selling my house in the next few months and because of the amount of money i will receive from it my fafsa status will change and I’m not sure my two kids in college will get any help from the gov’t because of the amount of money I will come into. This money of course needs to be put into another house but may not have one at the time of fililing taxes. Should my kids file independently from me or go live with their father and use him as the filer? Thank you fro your time, colleen


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