Reply to Now that financial aid programs can pull from IRS, why not pull from last 10 years ..

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[quote=Anonymous]Here's my question:
 
A lot of FA is based on life choices and the system doesn't  factor that in. You make x so you qualify for y.  Life choices  are too hard to account for.  We could have saved but instead we put in a pool one summer and had that tummy tuck the next and paid 50k to a college counselor. But college will never know.

But now we're starting to make judgements.  You had three kids?  That was your decision.

Okay. But if we're dong this, why not really do this.

Why use the IRS retrieval took to pull one base year of data. They could look back a decade. You're making 300k now, but you were making 90k til 2 years ago. Or you're making 90k now - hmm, that's interesting because you were making 600k as a dentist until you somehow decided to pay yourself 90k this one base year.  Or you've been making 400k for the last 15 years and have no 529?  We can judge that.

I think with better data, this could all be easier, fairer, and we could know what the price would be a lot earlier. [/quote]

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