<p>Can anyone tell me what is the basic rules for FA ? What kind of salary gives you no money ?
I applied with child 1 and recieved nothing so I'm not sure if it's worth the time to apply with child 2 ? Any basic rules for consideration....</p>
<p>Is child 1 still in school? If so the FAFSA EFC (parent portion) will be divided between the 2 students. So if the EFC is say 20,000 then it would be halved and become 10,000 (for each child).</p>
<p>Other than that there are so many variables - cost of school etc - that it is always worth applying. Also it is good to be in the system in case your circumstances change.</p>
<p>I always recommend folks complete the FAFSA at some point. You never know when an unforeseen circumstance (loss of parent income, illness, etc) will put a strain on your finances and ability to pay for college. If that happens, it is better to already have the finaid forms on file so that the school can reevaluate your situation. The last thing you will want to do if there is an issue is complete the FAFSA. </p>
<p>These are tough financial times. Even folks who are very solvent are finding that they are losing jobs and still need to pay their bills. There is no harm in completing these financial aid application forms.</p>
<p>And you just might qualify for some aid. Your child will at the very least be offered a Stafford Loan.</p>