5 Controversial But Effective Ways To Increase Financial Aid Eligibility

[@charissahuie9131]

I am the "unofficial" college and career counselor at my high school and your videos are very helpful, as I have to learn all this stuff so I can help my students and their families. Thanks!

[@edzamoracollegeprepchannel3820]

Thank you for watching the videos. If you need help with anything feel free to reach out . I help many college guidance offices.

[@amandasmith3154]

I need a little help with the topic on unconditional circumstances on fafsa I'm still legally married but my husband abandoned my son and I a few years ago after I became disabled. My mother mother claims my son on her taxes because she had to become our caregiver. How does this situation work on my son's Fafsa the college sent a in for unconditional circumstances but I could use a little help

[@EbD-ww7xr]

He is so helpful! Thank you for your help Ed

[@ultrarunner24]

Regarding the new version of the FAFSA. When parents are divorced it asks that they use the income of whoever provides more financial support. In the case of 50/50 placement and custody, what are the metrics to use to determine that since it may not be the parent who makes the most money.

[@chrisdoesasmr]

Did you ever figure this out?

[@trauma50disaster1]

@@chrisdoesasmr have you learned any more about what to answer? thanks

[@lesleyandrews3797]

I liked this! Cedar Grove HS in NJ. Class of 2023

[@marieb8711]

wow! thanks for just putting this out, u keep it REAL!

[@billmckrowski]

If someone is divorced and remarried, do they need to report income of their ex-spouse and/or current spouse? Or does that person just report their own income? Thank you!

[@ozz5949]

Hi, great job, and thanks for the effort. I've heard somewhere that opening a retirement account would be a way to utilize the cash sitting in savings and checking accounts and that retirement accounts don't need to be reported when filing for Fafsa. Can you please comment on that. Thanks

[@mogabian]

Ed, excellent job. Very much appreciate the info. My oldest child is in college and the information you have provided really helps parents make sense out of the FASFA form and the available grants. Thank you.

[@Unplugged704]

We have 2 children coming up on college in a couple years. Wife and I have investment accounts worth $500K. If we put the investment account into a living trust (not a trust fund), is that trust excluded from our assets? I’ve read children’s trust funds must be included, however.

[@dexivoje]

So what counts as separation? Does it have to be legal or can be informal, with two households and separate finances?

[@Coco2024-fd8dr]

All I have are loans I do not have any grants. I’m OK with that but here’s my main question. How can I increase my loan amount so I can receive a bigger disbursement?

[@aminatafofi2]

Can a student uses his/ her own income or lack income to qualify for more financial aids if student is married out of the Country and spouse isn’t present in the America

[@Gr8thxAlot]

This is super good info, thanks!

[@markrogers5634]

After FAFSA is completed and college evaluates and officially offers aid, a parent may realize they will need to get another or even a third job to try to meet college expenses. However, if the parent increases income, can this affect the FAFSA info a college uses to evaluate aid and then cause the aid to decrease?

[@sonaliv1489]

It will change the next year. Because they will check your wallet and under your bed every year to make sure not a dime is left

[@aimeeboutcher5484]

Can you change the custodial parent after the mom has been for three years to the dad the last year? The parents are divorced and living separately and the child lives with the father now

[@NicholeMoore-x7j]

What if my parents won't give their financial information for the FAFSA? can I be deemed an independent student?

[@okbajahjah5849]

needed information, thank you

[@edzamoracollegeprepchannel3820]

Thank you for watching

[@DavidMartinez-eh1bn]

I’m thinking about legally getting married to my GF before this fall term starts. Would my fasfa then apply for the following term or would I have to wait 2 years to receive the financial aid? I’m really set on doing this if it can help me right away! Thanks for the help!

[@edzamoracollegeprepchannel3820]

If you get married before filling out the fafsa you can put married on the form

[@aishanusoul]

How about things you can do if you're over a certain age. I'm going back to school and I just turned 35

[@edzamoracollegeprepchannel3820]

Well over the age of 24 you are just using your own income info for the financial aid forms

[@frankmiguel9480]

Excellent video! Do you have 1-1 for questions and suggestions?

[@edzamoracollegeprepchannel3820]

I do offer consultations through Zoom yes

[@kindree5414]

Hello, I am doing the FAFSA 23-24 school year. I usually answer ‘No’ to the parent assests questions but I did not get an option of Yes or No this time. Instead I got “Does it exceed $0.00?” Did I not get the Yes or No option for assets because I used the tax data retrieval form for IRS instead of filling manually? So, I’m supposed to combine what my parents have in their checking account, their saving account, and all the cash is their wallet? Does that include how much money is in their debit card? Only my father works so do i only use his information?

[@nuclear_reactor5x5]

The fucking shit some of us who aren't rich have to go through just to go to college

[@barbiequeue5353]

I have questions and need your input This is regarding the 2021 fasfa tax section and what to put . Scenario: returning student here. I got married 2021 Oct. In our ignorance we didn't filed tax together because we weren't married that entire year. Going back to school 2023 It asked me "currently are you married?" And now it's asking for partner 2021 tax info . We didn't file together , will this affect us or get us in trouble etc?

[@dewholdingsllc1050]

I like your separated parents each living apart and have custodial parent to be person with lowest income fill out the FAFSA. I think you missed a key item and #3 is not correct or best practices of shielding asset disclosure. The small business exclusion allows the applicant to omit the net worth of a small business from the FAFSA. A small business has 100 full-time or full-time equivalent employees and is owned and controlled by the family. I personally own nothing in my own name for asset protection reasons, nothing to do with FAFSA but it would take a court order by some court somewhere to force my disclosure of my business assets. Best practice is for each parent to establish their own LLC or a Series of a Series LLC and transfer cash, non-exempt real estate or other valuable assets as art or collectables, etc. to the company. The assets of an LLC or Series of a Series LLC are private and confidential. Income may not be private, depending on your tax planning, but the underlying assets are out of sight. Moreover, you also failed to mention a parent's retirement savings are not to be disclosed or considered.

[@nmuhammad3840]

They actually ask for the business information and value as required information on the css. The css is required by 250 colleges to support the FAFSA. How are you getting around that?

[@dewholdingsllc1050]

@@nmuhammad3840 please carefully review the law, the business exclusion and what I wrote. The answer is no my clients never provide any information until someone obtains a court order to do so.

[@dewholdingsllc1050]

Not enough space here to explain business entity formation and the law. Again review the actual business exclusion rule. Technically if it’s a business entity asset it is not the individuals property. It’s the business entity property. My entities are taxed as a C corporation. Not a pass through. Different tax rates and deductions. Nothing is public record of the ownership of the property.

[@milenavelado7137]

Question! Would the financial aid fluctuate if the spouse isn’t a citizen at the time of marriage?

[@edzamoracollegeprepchannel3820]

No it wouldn't since they would count the income

[@nancyhero9382]

Thank you 🙏 very helpful. Can I contact you for applying for financial aid ?

[@edzamoracollegeprepchannel3820]

Yes I help many families through Zoom. 908-400-1363

[@almarodriguez307]

How much is your charge??

[@zman7063]

Great stuff!

[@edzamoracollegeprepchannel3820]

Thank you for watching

[@ryanneumeyer5553]

Thank you for the information Ed. Roxbury High School Class of 2024

[@edzamoracollegeprepchannel3820]

Thank you for watching your high school has been counted

[@lorainecarbone5522]

Is my 401k retirement money considered assets? Or my Roth IRA?

[@Sillyname500]

No

[@nancylaquerre8172]

How about student over 55 FASFA grad school w income assets

[@Mars-kt1kz]

hi im sorry to bother but I have a question regarding fafsa. I have fin aid and I am taking two classes anatomy 1 and chem 113. it is challenging and not passing anatomy. I plan to drop this. I completed my associates in early education and my gpa is a 3.6 right now. the deadline is tomorrow and they gave me an option to drop both classes nov 12. what do you recommend i do?

[@laurasymanski1251]

What about graduate loan’s increased aggregates?

[@edzamoracollegeprepchannel3820]

You mean the $20,500

[@laurasymanski1251]

@@edzamoracollegeprepchannel3820 Hi Ed- no I am speaking about the higher aggregate above 138,000 for Health Professions- do you know anything about that?

[@wandarella2024]

Very informative! - Hasbrouck Heights, NJ Class of 2025

[@thomascallanan5972]

Thanks Ed Hanover Park hs class of 2024

[@alkades4742]

Great content! Morris County School of Technology class of 2025

[@TheInspiredPlanet]

Can the parent plus loan hold a lien on your home if you own one in your name? If so, can I put the home in a revocable or irrevocable trust and avoid the lien?

[@brendanbarry539]

These are WILD hahah!

[@RoseH-k8b]

Thank you! Richie Hanle DePaul Catholic High School 2025

[@hopeg.5553]

I’m So boggled. My husband and I earn much less than $100k combined and we only got $5,550 in aid. The cash we have in the bank is 3 months of emergency money and I reported my investments which is definitely not enough for retirement at all!! I need to figure out the best next steps as she’s graduating in may. Thank you

[@edzamoracollegeprepchannel3820]

Your answer is at 16:41 kzbin.info/www/bejne/eJu7lJ6bpqqrh5I

[@PrincessAsclepius]

You should be thankful you get that much to begin with

[@jaazzh521]

Scholarships

[@Savage22223]

@@PrincessAsclepiusna frfr 😂

[@lisatrengove-jones1110]

they said you don’t have to divulge retirements accounts

[@karendeane7786]

IHA 2023