At the dawn of the New Year, many parents resolved to make 2019 the year they kick their college savings into gear. Some parents hesitate to save, however, assuming their savings will cost them financial aid. Is this a correct assumption to make? Former St. Olaf College financial aid officer, Kathy Ruby, tells us in the latest installment of our video series, Ask the College Finance Expert, when she answers the question, “Will Saving for College Cost Me Financial Aid?”

As early round admission decisions start to roll in, students across the country are receiving both good (accepted) and bad (denied) news. And along with these clear-cut outcomes, many students are receiving some ambiguous news: yes, you’ve been accepted, but no, we are not awarding you enough financial aid to actually allow you to attend. This type of result can actually be the worst of all for families, as it often puts parents in the heartbreaking position of having to say no to their child’s dream school. Is there, however, any other option?

The FAFSA form opened up to high school seniors and their parents on October 1^st, meaning the financial aid application season is well under way. With the cost of college being so far out of reach for most families, many students are counting on financial aid to make their college dreams a reality, but the process of applying—and maximizing aid resources—can be confusing. How, then, can you make sure you’re accessing all of the financial aid you may be entitled to?

In case you haven’t heard, financial aid application season is now upon us. Not quite sure when you should be applying for financial aid? Check out this installment of the brand new College Coach video series, We Can Explain, where we answer the question, “When Should You Apply for Financial Aid?”

With the new school year under way, parents of high school seniors are now seeing college on the not-too-distant horizon and realizing they will soon be faced with large tuition bills. “Will I qualify for financial aid?” they wonder. While the need-based aid calculations are fairly complicated, and based on each family’s individual financial circumstances, there is some federal student aid which is not need-based, that every student meeting basic criteria qualifies for. What are those basic criteria? Former Becker College and Anna Maria College financial aid officer, Laurie Peltier, breaks it down in the latest installment of the College Coach video series, Ask the College Finance Expert.

Divorce is complicated. Applying for financial aid is complicated. And when you combine the two, things get really complicated.

Determining which parent completes the FAFSA, however, is actually pretty straightforward, according to former Emerson College and Elms College financial aid officer, Stacey MacPhetres.

Divorce is never easy, and paying for college is no cake walk either. Combine these two situations and things can get very complicated very quickly. If you are experiencing a separation and/or a divorce, we thought it would be helpful to give you some tips on how you might approach this major financial decision, what the rules are in the financial aid process, and, finally, how your situation affects various aspects of college financing once your child enrolls in college. In Part One of this series, we discussed your first steps and how to complete the financial aid applications. In Part Two, we will talk about college financing (i.e., student and parent loans), as well as other things to think about once your child is enrolled in college.

Divorce is never easy, and paying for college is no cake walk either. Combine these two situations and things can get very complicated very quickly. If you are experiencing a separation and/or a divorce, we thought it would be helpful to give you some tips on how you might approach this major financial decision, what the rules are in the financial aid process, and, finally, how your situation affects various aspects of college financing once your child enrolls in college. Given the complexity of the topic, this will be a two-part series. In Part One, we’ll discuss your first steps and the financial aid application process.

So let’s get started!

Will the equity in your home affect your child’s need-based financial aid eligibility? As with so many aspects of the college application and financing processes, it depends! Home equity is not an asset to be reported on the FAFSA. If your child is applying to a college that only requires a FAFSA to apply for aid, any equity in your home will not affect financial aid eligibility. And, happily, 90% of colleges fall into this category.

However, if your child is applying to one of the 400 colleges and universities who require the CSS Profile, you will be asked to report the equity in your home.

Families of high school seniors tasked with making a college enrollment decision over the next few weeks are in a tough position. They are about to make a huge purchase—likely one of the largest financial investments of their lives—without knowing exactly how much it will cost them. While the family needs to be prepared to take on four years’ of tuition payments, they only have a financial aid offer for one year in front of them. How do they know they can count on this financial aid for all four years?