The College Money Guys - November 2018

UNDERSTANDING WHAT INFLUENCES FINANCIAL AID

Independent Students

When a student is applying for financial aid, it’s important to know how your family’s circumstances may differ from the “statistical norm” of two married parents, an average student with average grades, and employment by a company that isn’t your own. Here are two special situations that can affect financial aid.

Some individuals may try to sign up as “independent,” thinking that they will receive more financial aid. However, many people don’t realize that to be considered independent, the student needs to meet at least one of the following criteria: Be 24 years old or older before Dec. 31 of their first year of college Be a veteran of the armed forces Be an orphan or ward of the court •

Divorced or Separated Parents

2. If the parent who matches the

qualifications above is remarried, a student must include the income and the assets of the stepparent as if they were the biological parent. 3. Some private colleges and universities might ask applicants to include the noncustodial parent’s financial information. If your student is applying to a private school, don’t be surprised if this information is required. Also, the information given by the other parent will not affect federally based funds.

If a student’s parents are divorced or separated, there are a few things they need to know before proceeding with their college or university application. Financial aid forms are geared toward students with married parents. If a student’s parents are not married to each other, the form should be completed with the information of the parent they live with for the greater part of the year. 1.

• • • • •

Have legal dependents

Be a graduate or professional student

Be married

Knowing what can impact your qualifications for financial aid will help you better prepare for the future.

SPICY, CREAMY SWEET POTATOES

PUZZLE

Inspired by The New York Times

INGREDIENTS • 5 pounds sweet potatoes • 1 cup canned coconut milk • 1 tablespoon Thai red curry paste INSTRUCTIONS 1. Heat oven to 375 F. On a large sheet pan, bake potatoes until very soft, approximately 75 minutes. 2. Let potatoes cool until they are safe to handle, then peel and mash. 3. In a small saucepan over low heat, combine coconut milk and curry paste. Once mixed, add the mixture, salt, half the sugar, and half the butter to potatoes. 4. 30 minutes before serving, heat oven to 425 F. Spread potatoes in a baking dish, cover with foil, and bake for 20 minutes. 5. Uncover potatoes and dot with remaining butter and sugar. Broil until brown, crusty, and delicious. Serve hot. • 1/2 cup dark brown sugar • 4 tablespoons unsalted butter • 1 tablespoon kosher salt

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