My D has received a financial aid award based on the CSS profile, but since I filed that profile on November 1st, I have earned a bit more income than I thought I would, so the FAFSA will have a higher number. How much does a change in parental income affect a typical award? Is there a percentage I can estimate of the additional salary I earned that might be take off the award? Thanks for help with this.
Each school has its own formula so there is no way to answer your question.
Can you bank some of that additional income to help with college costs?
Well, if your income is over $100k, then estimate that 33% of that new higher amount will now be assessed for contribution.