FAFSA Asset Protection Allowance

[MerryAtHope]

Anyone know what the new, 2017-2018 Asset Protection Allowance for FAFSA will be?

 

I tried googling but haven't found a full table. According to this blog post, it would appear the allowance is increasing (rather than decreasing as it did last year), which would be good news though it's only a modest increase.

 

As a funny aside--as I was googling, one of the top hits was an article on Forbes (which didn't answer this question)--but they had up this quote of the day:

 

“If you can’t explain it simply, you don’t understand it well enough.â€

Albert Einstein

 

Ah, how I wish all government form creators read that quote!

[AnnGarcia]

Hi,

 

The Department of Education has finally published the 2017-2018 Formula Guide in a format that one can reasonably access. It is here: https://ifap.ed.gov/efcformulaguide/attachments/071416EFCFormulaGuide1718.pdf Note that the Asset Protection Allowance is based on age of the oldest parent and whether the parents are married or not. That means you need to look at the tables in the back to find the amount that applies to your situation. 

 

And yes, the allowance increased modestly from last year. There's another post on my blog that explains how it's calculated and why it's been mostly decreasing in recent years. It's pretty convoluted. 

 

Hope that helps!

 

Ann (the person who wrote that blog post.) 

[MerryAtHope]

 

And yes, the allowance increased modestly from last year. There's another post on my blog that explains how it's calculated and why it's been mostly decreasing in recent years. It's pretty convoluted. 

 

Hope that helps!

 

Ann (the person who wrote that blog post.) 

 

Thanks Ann! I'll have to check out your other post.

[MerryAtHope]

Hi,

 

The Department of Education has finally published the 2017-2018 Formula Guide in a format that one can reasonably access. It is here: https://ifap.ed.gov/efcformulaguide/attachments/071416EFCFormulaGuide1718.pdf Note that the Asset Protection Allowance is based on age of the oldest parent and whether the parents are married or not. That means you need to look at the tables in the back to find the amount that applies to your situation. 

 

 

This is exactly what I was looking for (wanted to pre-estimate our EFC--actually used last year's guide and wondered about the Asset Protection Allowance, but I'm glad to have this year's). Thanks again!

[MarkT]

Hi,

 

The Department of Education has finally published the 2017-2018 Formula Guide in a format that one can reasonably access. It is here: https://ifap.ed.gov/efcformulaguide/attachments/071416EFCFormulaGuide1718.pdf Note that the Asset Protection Allowance is based on age of the oldest parent and whether the parents are married or not. That means you need to look at the tables in the back to find the amount that applies to your situation. 

 

And yes, the allowance increased modestly from last year. There's another post on my blog that explains how it's calculated and why it's been mostly decreasing in recent years. It's pretty convoluted. 

 

Hope that helps!

 

Ann (the person who wrote that blog post.) 

nice blog - thank you

[Angie in VA]

Thank you for this info, Merry and Ann!

[MarkT]

Hi,

 

The Department of Education has finally published the 2017-2018 Formula Guide in a format that one can reasonably access. It is here: https://ifap.ed.gov/efcformulaguide/attachments/071416EFCFormulaGuide1718.pdf Note that the Asset Protection Allowance is based on age of the oldest parent and whether the parents are married or not. That means you need to look at the tables in the back to find the amount that applies to your situation. 

 

And yes, the allowance increased modestly from last year. There's another post on my blog that explains how it's calculated and why it's been mostly decreasing in recent years. It's pretty convoluted. 

 

Hope that helps!

 

Ann (the person who wrote that blog post.) 

latest

https://ifap.ed.gov/efcformulaguide/attachments/071017EFCFormulaGuide1819.pdf