FAFSA Renewal and Money Advisors?

Question

So I've decided on a major that my parents don't agree to, and say that they'll stop funding me next semester if I don't switch back to my previous major (that I hate). At first i thought that all I'd have to worry about is my dorm rent for the next school year, but they also said that they'll stop helping me with FAFSA grants and whatnot. They're paying a college money advisor of some sort to monitor our income to make sure that I get the money I need for college tuition.

If I continue to be in my current major, I'll have to reapply for FAFSA. Is it as difficult as it sounds? Because they sure are making it sound like it is. What's the difference between having a financial advisor apply for your FAFSA grants versus yourself? Is it really all that beneficial?

Answer 1

I do my own FAFSA every year and it is not difficult at all. However, you'll need access to your parents tax returns for some of the questions. Check out www.fafsa.ed.gov

Answer 2

There's no difference between a financial advisor and you doing it for yourself. You will need your parent's tax information though for your FAFSA and you have to reapply every year regardless of who is doing it.

Answer 3

Groan, if you decide to go it on your own, consider this...

Now is the time to be very careful.  Because, although you don't necessarily "NEED" your parents to pay for your education, you do need their income information to take out a student loan in your own name.  They don't have to cosign for you, but their tax info will be required.  Period. No exceptions in your case.  Don't peeve them off or burn bridges now.  

Also be aware, the school can not release enrollment info, grades, your major, class schedule, anything to your parents without your written consent. Legally you are an adult.

Also, the amounts you can borrow in your name are limited because of your dependency status.  (Soph is 4,500 per year.  Jrs and Srs are 5,500 per year) so if your school is more expensive than this and you aren't getting any scholarships or currently not eligible for anything besides PLUS (parent) loans and Stafford loans then you may have to go to a cheaper school to continue in that major.

First of all, your parents are throwing their money out the window by PAYING someone to do your fafsa for you.  They'd be better off giving you that cash for your school, but that's another story... anyway,  The FAFSA is is something that can be done by you and any financial aid office at any school will help you do it for free.  All you need to do is read all the instructions carefully and ask questions if you don't understand something.

This paid, "financial advisor" doesn't get you any more money or benefits by having them hit the "Submit" button on the fafsa instead of you.  The formula is federally regulated and the calculations are the same for everyone.  I guarantee --if your folks can afford to pay for an "advisor", you aren't  getting any need based grants like the Pell or your state grant program anyway.  

If you are not sure about how to fill out the fafsa, I would suggest you fill it out on paper and take the form to your fin aid office to check.  They can give you the all clear before you transmit it.