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Posted by pixel_a_ted on December 26, 2007, 5:32 pm
Everybody seems to encourage you to go through the FAFSA (Free
Application for Federal Student Aid) process even if you don't think
you will qualify for any need-based financial aid. I hate to give out
any unnecessary personal financial information, so I am hesitant to do
this especially as I don't think it will result in anything.
I've gone through the calculation of EFC (Expected Family
Contribution) online and it comes out high enough to basically cover
the cost of the colleges that my child is considering. I am near
retirement age, I guess a little older than the typical college
parent, and may have higher salary and assets than the typical
applicant.
So I guess I have a few basic questions:
1. Is there really any point to do the FAFSA in my situation?
2. Does each school get to see all of the details of the FAFSA
application, or do they just get summary calculations, such as EFC?
2. If there were to be any need-based financial aid, would it most
likely be in the form of a loan (which I would not be interested in)?
3. How do I locate a financial advisor in my area that specializes in
college financial aid? I might want to do a sit-down with someone just
to get a calibration of my understanding of the overall process.
Thanks.
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