MerryAtHope Posted August 24, 2016 Share Posted August 24, 2016 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.†Albert Einstein Ah, how I wish all government form creators read that quote! 4 Quote Link to comment Share on other sites More sharing options...
AnnGarcia Posted August 24, 2016 Share Posted August 24, 2016 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.) 2 Quote Link to comment Share on other sites More sharing options...
MerryAtHope Posted August 24, 2016 Author Share Posted August 24, 2016 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. Quote Link to comment Share on other sites More sharing options...
MerryAtHope Posted August 24, 2016 Author Share Posted August 24, 2016 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! 1 Quote Link to comment Share on other sites More sharing options...
MarkT Posted August 27, 2016 Share Posted August 27, 2016 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 2 Quote Link to comment Share on other sites More sharing options...
Angie in VA Posted August 27, 2016 Share Posted August 27, 2016 Thank you for this info, Merry and Ann! 1 Quote Link to comment Share on other sites More sharing options...
MarkT Posted November 21, 2017 Share Posted November 21, 2017 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 Quote Link to comment Share on other sites More sharing options...
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