WBEN Interview: “FAFSA submission period begins Thursday”

Due to the Pandemic, many families are struggling financially.  Because of that, more and more are needing financial aid help for college.  With the increase in demand, students will need to start the process of applying for aid sooner.

Tony Ogorek spoke with WBEN about how the FAFSA will be determined and what steps you can take to help.  The new application for the 2021-2022 school year is out Today (10/1/2020).

Listen to the Interview Here

Read the Article

 

What do you need to know?

  • Complete the FAFSA (Free Application for Federal Student Aid) ASAP.  This will be available Thursday, 10/1/2020 for the 2021-2022 school year.  There may be more information and paperwork needed than previous years, so the sooner you do this step the better.  Even if you’re unsure of attending college next year, still fill this out.
  • FAFSA will use the 2019 tax year information to determine what a family will need to pay out-of-pocket for college.
  • Need-based grants and scholarships won’t be available for as many students due to tax returns providing an inaccurate financial picture.
  • If that’s the case, there’s more you can do.  Contact your college’s financial aid office (or the offices to the colleges being applied to) to request a “professional judgement review”.  This involves submitting layoff notices, unemployment checks, or medical bills to allow the officials to see a more accurate financial picture for the student.

 

OWM provides financial planning, investment management, and retirement coaching to affluent individuals, business owners, and families.