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Covid-19 Relief Bill: FAFSA Changes Coming Soon to a Student Near You...
Presenter: Sandy Voit
Date: September 22nd at 1:00 EST
Program Description:The FAFSA Simplification Act, incorporated into the 5593 pages of the Covid Relief Bill passed in January 2021, is 167 pages, taking effect for the 2023-2024 academic year. This contains significant changes in how financial aid will be determined. This takes effect on 7/1/2023, with the FAFSA completed in October 2022, and using the 2021 tax return. (Current high school sophomores through students in first year of college this coming fall will all be impacted.) This is the first overhaul of FAFSA since its inception. Some changes will greatly benefit families going through a divorce; other changes will have significant negative impact. We will focus on how divorce financial planners can incorporate for new clients - and also be aware that some of your prior clients will need to be notified to take these changes into account...
- Understand the significant changes impacting families, with an emphasis on divorcing couple's families, to the Free Application for Federal Student Aid - FAFSA, taking effect on 7/1/2023
- How the questions have changed
- How Estimated Family Contribution is changing
- Which parent needs to complete the FAFSA
- What will count - and NOT count - as income with the new FAFSA
- Changes in Pell Grant eligibility
- How Professional Judgment of Financial Aid Officer works
Sandy Voit is a Certified Divorce Financial Analyst, as well as a Licensed Mental Health Counselor, focusing on divorce financial planning. He has worked on over 500 divorces, including 200+ collaborative divorces, since 2007. Sandy worked in higher education for 27 years (including as a Director of Financial Aid), then was an executive director of a large synagogue for 5 years before his current work. He is a former board member of the Association of Divorce Financial Planners and serves as a Mentor in their MentorLinkSM program. He also is on the board of the largest food co-op in the country (15 stores/$400,000,000+ sales).
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