Anonymous
10/18/2019 21:55
Subject: Effective Family Contribution-FASFA
OP I had this exact same question but couldn’t find a good answer on the web. Maybe my search terms were too common. We, at one point, will have four kids in college. Interested in how their aid will interact.
Anonymous
10/18/2019 21:53
Subject: Re:Effective Family Contribution-FASFA
Anonymous wrote:Anonymous wrote:Anonymous wrote:On a different segment of FAFSA - In general, net gain from an investment will be = Proceeds from sale - expenses related to sale - taxes on gain.
Do you value investment that way and report such an estimated gain on FAFSA? Because, after all the money you can spend on your kid's education is the net gain and not the absolute value of the investment.
How do you value the asset of a rental property? Is it Expected sale price - mortgage debt - cost of prepping the property - realtor commission - seller's share of taxes - capital gains tax?
The costs associated in disposing a rental property, including capital gains tax, are usually significant and they reduce the net cash from sale available for kid's education will be much less than the value of a rental property given by websites like Zillow.
Appreciate guidance on above questions from knowledgeable forum members. TIA.
Please start a separate thread. This is unrelated to the original question.
Are you the OP? I thought OP's question was adequately answered by others before I posted.
Completely different poster but I agree - why wouldn’t you start a new thread?
Anonymous
10/18/2019 21:38
Subject: Re:Effective Family Contribution-FASFA
Anonymous wrote:Anonymous wrote:On a different segment of FAFSA - In general, net gain from an investment will be = Proceeds from sale - expenses related to sale - taxes on gain.
Do you value investment that way and report such an estimated gain on FAFSA? Because, after all the money you can spend on your kid's education is the net gain and not the absolute value of the investment.
How do you value the asset of a rental property? Is it Expected sale price - mortgage debt - cost of prepping the property - realtor commission - seller's share of taxes - capital gains tax?
The costs associated in disposing a rental property, including capital gains tax, are usually significant and they reduce the net cash from sale available for kid's education will be much less than the value of a rental property given by websites like Zillow.
Appreciate guidance on above questions from knowledgeable forum members. TIA.
Please start a separate thread. This is unrelated to the original question.
Are you the OP? I thought OP's question was adequately answered by others before I posted.
Anonymous
10/18/2019 21:20
Subject: Re:Effective Family Contribution-FASFA
Anonymous wrote:On a different segment of FAFSA - In general, net gain from an investment will be = Proceeds from sale - expenses related to sale - taxes on gain.
Do you value investment that way and report such an estimated gain on FAFSA? Because, after all the money you can spend on your kid's education is the net gain and not the absolute value of the investment.
How do you value the asset of a rental property? Is it Expected sale price - mortgage debt - cost of prepping the property - realtor commission - seller's share of taxes - capital gains tax?
The costs associated in disposing a rental property, including capital gains tax, are usually significant and they reduce the net cash from sale available for kid's education will be much less than the value of a rental property given by websites like Zillow.
Appreciate guidance on above questions from knowledgeable forum members. TIA.
Please start a separate thread. This is unrelated to the original question.
Anonymous
10/18/2019 21:18
Subject: Effective Family Contribution-FASFA
Anonymous wrote:No, they will not share plans. They will (likely, I am not sure) assume you can kick in half of that for their school, and come up with a budget accordingly.
That would be really beneficial to us as our kid #1 has lots of merit aid already! Fingers crossed...
Anonymous
10/18/2019 21:17
Subject: Re:Effective Family Contribution-FASFA
On a different segment of FAFSA - In general, net gain from an investment will be = Proceeds from sale - expenses related to sale - taxes on gain.
Do you value investment that way and report such an estimated gain on FAFSA? Because, after all the money you can spend on your kid's education is the net gain and not the absolute value of the investment.
How do you value the asset of a rental property? Is it Expected sale price - mortgage debt - cost of prepping the property - realtor commission - seller's share of taxes - capital gains tax?
The costs associated in disposing a rental property, including capital gains tax, are usually significant and they reduce the net cash from sale available for kid's education will be much less than the value of a rental property given by websites like Zillow.
Appreciate guidance on above questions from knowledgeable forum members. TIA.
Do you value investment that way and report such an estimated gain on FAFSA? Because, after all the money you can spend on your kid's education is the net gain and not the absolute value of the investment.
How do you value the asset of a rental property? Is it Expected sale price - mortgage debt - cost of prepping the property - realtor commission - seller's share of taxes - capital gains tax?
The costs associated in disposing a rental property, including capital gains tax, are usually significant and they reduce the net cash from sale available for kid's education will be much less than the value of a rental property given by websites like Zillow.
Appreciate guidance on above questions from knowledgeable forum members. TIA.
Anonymous
10/18/2019 20:42
Subject: Effective Family Contribution-FASFA
No, they will not share plans. They will (likely, I am not sure) assume you can kick in half of that for their school, and come up with a budget accordingly.
Anonymous
10/18/2019 20:39
Subject: Effective Family Contribution-FASFA
Got that it is not per child ...but is it divided in half for each school? Otherwise the schools involved would have to share aid plans and freshman have not even picked a school yet?
Anonymous
10/18/2019 20:08
Subject: Effective Family Contribution-FASFA
That is your total expected contribution (what they claim you can afford per year). It is not per child.
Anonymous
10/18/2019 19:42
Subject: Effective Family Contribution-FASFA
If you expected contribution is for example 50,000 and you have two kids. Does that mean it is 25K per kid? Or 50K total? For example, if Kid #1 is at a 25K in state school and #2 is at a 70K Ivy, does Kid #1 have no need and Kid #2 have 45K need...or does the family overall have 30K of need? I understand that school may or may not actually meet the need but just asking how it works.