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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][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]

Because the entire point of the FASFA is to help kids who for [i]whatever[/i] reason, come from less advantaged homes. Regardless of if their parents made horrible decisions like having 6 kids with multiple different dead-beat Dads and the Mom blows everything she has on drugs. Or if the family making 100k a year in a LCOL area decides to go to Europe every year rather than stick that money in a 529.

It will never be fair, just like admissions aren’t fair. The goal has never been to be fair though. [/quote]

She’s talking css which is 100% not about helping poor kids w parents who make poor decisions [/quote]

Does the css use an IRS retreival tool? [/quote]

The CSS is informed by the information on the FAFSA which uses the IRS retrieval tool.[/quote]

What? that's circular, if the FAFSA was reliable there would be no CSS. They aren't relying on the FAFSA.[/quote]

They are relying on the basic number from the FAFSA for income.  What the CSS adds is a more detailed picture of assets beyond the FAFSA--home equity, retirement accounts, sibling assets, grandparent assets, art/precious metals/jewelry/cars/collections--whatever people are currently using to hide value.  They don't necessarily calculate everything out as usable assets--but if you are crying poor and have 10m in a backdoor Roth or a collection of Italian motorcycles or whatever, they aren't going to buy it.[/quote]

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