Here's What Other Families Are Asking about Financial Aid

We're in the beginning of financial aid season, so we've received numerous questions from families trying to complete the required financial aid applications. If you're about to start the financial aid process, you may want to watch our FAFSA^® and/or CSS Profile^TM webinars, both of which provide instructions and tips on applying for financial aid. Below, we've included some of our most popular questions, with detailed answers. Reviewing this list may help clear up any confusion as you file your own applications. And remember, you can contact us with your own questions: call us at (800) 449-MEFA (6332) or email us at collegeplanning@mefa.org.

Q: How does the process work if we have twins?

A: If you have more than one child attending college next year, you'll need to fill out two of every financial aid application required. However the FAFSA does provide some assistance—once you complete the first FAFSA, you'll have the opportunity to copy the parent information into a new FAFSA, saving you time on the second application.

Q: How does everything work if we're divorced?

A: Families with divorced parents will need to select the parent that provides more financial support for the student. That parent, along with the parent's current spouse (if there is one), and the student will complete the financial aid applications. If a CSS Profile is required, the college may ask the other parent, called the noncustodial parent (and that parent's current spouse), to submit a separate Profile. Check with each school to find out what's needed.

Q: What if the noncustodial parent is required to submit a CSS Profile, and we can't get in touch with that parent?

A: If the student has no contact with the noncustodial parent, or doesn't know the parent's whereabouts, the student can appeal to have the noncustodial parent's Profile requirement waived. The student should contact each college requiring the application to find out the appeal process.

Q: What if a parent's marital status has changed since we filed taxes?

A: The financial aid applications require you to report your income from two years prior and your current marital status. If you got divorced or married after you filed your taxes from two years prior, your income picture likely looks remarkably different today, considering your marital status change. If you were married then but aren't now, contact the financial aid office at each school where the student is applying to explain your situation. Do your best to separate out your own income information on your tax return, and report those figures. The college may ask for a copy of your tax return and a line-by-line separation of your income from your former spouse's. If you weren't married to your current spouse when you filed taxes two years ago, your spouse will also need to complete the FAFSA as a contributor, which will pull in information from that spouse's tax return from two years ago.

Q: Do we report disability income on the financial aid applications?

A: If your disability income is untaxed, you don't report it on the FAFSA, but you do report it on the CSS Proflie.

Q: How do I list more than 20 colleges on the FAFSA?

A: The FAFSA only provides room to list up to 20 colleges. If the student is applying to more than 20 schools, submit the FAFSA with 20 schools listed. Wait to receive an email that the FAFSA has been processed (this usually takes about 3 days) and then log back into the FAFSA, delete the first 20 schools, add the additional colleges, and resubmit the application.

Q: The student's grandparents have a 529 college savings account for the student—do we need to report the value?

A: If anyone besides the parent(s) on the FAFSA owns a 529 account for the student, including a grandparent, aunt/uncle, or noncustodial parent, do not report the value as a parent or student asset on the financial aid applications.

Q: Can I report my debt on the financial aid applications?

A: On the FAFSA, you will take into consideration your debt on your investments, businesses, and farms when you report the net worth of those assets. You will not report any other debt. On the CSS Profile, you will have the opportunity to list all of your current debt.

Learn more about financial aid