How the new Fafsa application changes the formula for financial aid
Faced with the gargantuan cost of higher education, Americans often have to choose between securing their children’s future or their own. A new rule change makes it slightly easier to do both.
Pretax contributions made to retirement accounts will no longer count as income in the formula that measures a family’s ability to pay for college, under, or Fafsa. The Education Department made the changes to simplify the form and ensure more aid goes to those who need it most.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.
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