If you've ever completed this form, you know what a royal pain it is. If not — it's full of questions on your income, your wife's income, your investment income, your child's income, your imaginry income and all kinds of financial questions.
Then, after pages of income questions comes the somewhat humbling question of net worth. Let's just say that mine is PATHETIC. But that's not the ultimate FAFSA “kick on the pants.’
After reviewing my middle class income, my nearly non-existent investments and my less than $10,000 net worth (minus retirement and home values), the government geniuses at FAFSA judging headquarters determiend that I have $19,000 lying around to use each year for college. $19,000 A YEAR!!!
After reviewing my income, did they ask me how much my “fixed” expenses are? NO. Did they ask how much my house payment was? No. How about how much I spend on health, auto, home and dental insurance? NO. Did they figure into their genius equation that I occasionally buy gasoline and groceries and clothing? I DON'T THINK SO. And what about other folks who may have alimony, huge medical expenses, child support or debt repayment plans — any consideration of those factors? Again, a big fat NO!
The FAFSA application process is a joke. Heck, if I'd have known I was this rich, I'd have skipped filling out the goofy thing and just opened up my checkbook!
In any case, if you've ever filled out one of these FAFSA forms, I'd be curious as to your thoughts and comments.
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