Help with financial aid!
February 4, 2009 5:14 PM Subscribe
College financial aid question - Here is a question about the best way for my wife and I to fill out the FAFSA...
posted by mikedelic to Education (4 answers total) 1 user marked this as a favorite
Here's the background - 2nd marriage for both my wife(widow) and I(divorced). In Sept '09 my stepson will be going into his last year of college and my stepdaughter into her 2nd year of college. I have a son in HS who is my full financial responsibility. We married at the end of '07 and filled out our taxes married filing separately, thinking this would work out better for financial aid. My wife listed her income on the FAFSA and they arrived at her EFC (Expected family contribution). However, the college asked for my income, added that in, and reduced the financial aid package to almost nothing. We appealed to the financial aid office(begged really) of my daughter's school and they revised the aid up a little.
My question is how should we fill out the financial aid info to maximize the aid package? Is there a website or book with this information? We don't want to do anything dishonest but all we hear about is people who make more than us working the system to get great aid packages. Also, would married filing jointly matter? Filing married separately is costly.
Thanks for your help!!!