I have a friend whose daughter is a senior and applying to college. He was asking me how his own student loan debt that he is still working on paying off is factored into the EFC calculation. I can’t remember if there were any items regarding parent student loan debt when I did the FAFSA with my daughter last year. I guess because my husband and I don’t have any student loan debt, I didn’t pay any attention. Is it factored into the calculation?
It’s not. It is just a consumer debt. The only issue would be if he’s not current on his own loan he may not qualify for a parent plus loan,but that’s not on the fafsa or part of the efc calculation.
Sorry, but there is no consideration for any debt, including parent student loan debt.
If the dad thinks that he can’t afford to pay for college because of his own student loans, then he needs to have his DD apply to schools where she’ll get merit for stats.
BESIDES…unless he’s low income…FAFSA EFC is rather meaningless.
Thanks, I will let him know.