Learning Library Quick Answers Financial Aid Planning

Is your credit history taken into consideration when applying for student loans?


Scenario: I was turned down for an education loan for my son because of a bad credit rating. I was under the impression that banks....

Is zero EFC for a single mom different than zero EFC for a married couple?


Answer: No, it is the same for both married and single. Under $50,000 for simplified EFC. Under $30,000 for zero EFC.....

Must I report money in my 401(k) on my daughter's financial aid form?


Answer: Money in retirement accounts, such as a 401(k), do not have to be reported. You need only report the amount you contribute....

My parents refuse to file any forms. What should I do?


Answer: In order to be considered for financial aid, you must file a need analysis form. However, aid administrators will sometime....

Once the FAFSA is submitted, how long does it take to get a response?


Answer: If you file electronically you will receive a response within 2-3 days. If you mail the FAFSA form in you will receive a r....