<p>Hi everyone,</p>
<p>How does the Bright Futures scholarships coincide with FAFSA and the EFC? </p>
<p>thanks!</p>
<p>There is no direct correlation between BF scholarships and FAFSA/EFC. Bright Futures scholarships are merit based and not tied to financial need. That is one of the criticisms of Bright Futures, one can be a billionaire and receive a Bright Futures award.</p>
<p>I don’t think I asked the question correctly. My son is eligible for the higher level BF scholarship. Is that indicated on the FAFSA app or is it not taken into consideration?</p>
<p>I looked over at the FAFSA site and there is mention in app about what grant or scholarship aid was reported to the IRS, so I guess you might have to mention any aid received including Bright Futures. Not sure how that works, maybe a grownup who’s done app could help you better.</p>
<p>The Bright Futures Scholarships do not have any influence on the amount received from the FAFSA and it is not indicated anywhere on the app nor do you need to report it. Just make sure your son applies for both if he hasn’t already.</p>
<p>When your son is in college, he’ll receive from the college at the end of the year an IRS 1099-T income form that will indicate the amount of money he received for the year in scholarships and grants such as Bright Futures. Any difference left after qualified college expenses like tuition are subtracted should be reported on your son’s income tax filing, which income should be included on future FAFSA forms. If your son is a brand new student he doesn’t have to be concerned about any of this for FAFSA purposes until end of year after getting 1099 from school and when completing FAFSA app. for following year.</p>