Reply to Sister's husband has $0 in college fund for my nephews

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Reply to "Sister's husband has $0 in college fund for my nephews - tells me to "back off""

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

Yes, my sister certainly knows how to pick 'em. FYI, when it comes to FAFSA and college aid, [b]*all* parents inc. step-parents are responsible[/b].[/quote]

This is not true. My son's biological father was not involved in the process and did not add any info to the form and it was accepted as is. If a parent is not in the picture they truly are not responsible. You really have zero idea how financial aid works. [/quote]

I work for a university, so I have a decent handle on financial aid. It depends on the institution. At the very least the nephew will need to submit the tax return they are claimed on, which is the step-father who makes north of $100K. Many universities go above and beyond and request the student submit bio- and step-parent tax returns, assets, savings, retirement, etc. to a third party evaluator, e.g. College Board. $100K-plus is the frustrating middle class spot that's a little too high for the serious grants and scholarships, yet typically too low to be able to write a $25K-$75K check. At a good university, $100K-plus with 4 children will net the student a small grant and access to a lot of [b]loans[/b]. Loans that will have to be co-signed by the breadwinner. Of course at Harvard $100K income nets the nephew nearly a full ride scholarship — but few colleges can afford to be anywhere near as generous.[/quote]

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