Episode Details

392: Tips for Completing the FAFSA: What Parents Need to Know

Completing the FAFSA can feel intimidating, but the process has become much simpler than it used to be. In this episode, Meryl talks with Robert Farrington, founder of The College Investor, about what families need to know when completing the FAFSA.

Robert explains why almost every college-bound student should complete the FAFSA—even families who assume they won’t qualify for federal aid. The FAFSA can also be required for state aid, college scholarships, and other financial aid opportunities.

Robert also shares how the FAFSA has changed. Much of the information is now imported directly from your tax return, and the form uses smart logic to ask only the questions relevant to your family. The average completion time is now around 12 minutes.

In this episode, we discuss:

• Why almost every college-bound student should complete the FAFSA
• How the FAFSA can unlock federal, state, and university financial aid
• Why students and parents each need a StudentAid.gov login
• Why families should aim to complete the FAFSA by Thanksgiving
• Common FAFSA mistakes when reporting assets
• Assets you generally do not report, including your primary residence and retirement accounts
• Changes affecting family-owned businesses and farms
• How 529 plans can affect FAFSA calculations
• Why joint bank accounts with children or aging parents can create problems
• What happens after you submit the FAFSA
• Understanding the Student Aid Index (SAI)
• When families may also need to complete the CSS Profile

Robert recommends completing the FAFSA early because some state and college financial aid programs operate on a first-come, first-served basis.

He also shares planning strategies families can consider before their children reach college age, including where assets are held and how 529 plans are treated for financial aid purposes.

After submitting the FAFSA, students should watch for their Student Aid Index (SAI) and check whether any colleges on their list also require the CSS Profile.

Resources

The College Investor
thecollegeinvestor.com

Look for Robert’s article: “The 2027–28 FAFSA Is Now Open to Every Family.”

StudentAid.gov
Use this site to create student and parent accounts and complete the FAFSA.

Ultimate Homeschool Podcast Network Birthday Giveaway

Find the giveaway here

Where to find Robert

Website: http://thecollegeinvestor.com/
Facebook:  https://www.facebook.com/thecollegeinvestor
Instagram: https://www.instagram.com/thecollegeinvestor/
Youtube:  https://www.youtube.com/c/thecollegeinvestor<