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Jodie M. Smith

Financial Advisor

 

Southeast Financial Wealth Management

5110 Maryland Way, Suite 100

Brentwood, TN 37027

 

Phone:    615-371-3737

Fax:        615-377-0090

TollFree: 800-521-9653, ext. 2321

 

Email: jodie.smith@southeastfinancial.org

September/October 2023

FAFSA Makeover

Novosibirsk,Russia - January,30 - 2021: topview photo of FAFSA - free application for federal student aid

The FAFSA (Free Application for Federal Student Aid) that students and parents complete to apply for financial aid is becoming shorter and easier to navigate, thanks to the FAFSA Simplification Act. Scheduled to begin with the 2024-25 award year, the revisions to the form are designed to streamline the application process. Here are some highlights. The Act:


  • Changes the methodology for determining aid. The Expected Family Contribution (EFC) is replaced by the Student Aid Index (SAI);

  • Expands access to Federal Pell Grants and Federal Direct Loans, so more students will qualify;

  • Includes a new interface to directly receive tax information from the IRS;

  • Eliminates the reporting of financial contributions from others (grandparents, etc.);

  • Increases the amount of income excluded from the financial aid eligibility formula;

  • Eliminates the discount for having multiple children in college, effectively reducing financial eligibility for those families.


Additional information is available at studentaid.gov


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Jodie Smith is a financial advisor with, and securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Southeast Financial Credit Union and Southeast Financial Wealth Management are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Southeast Financial Wealth Management, and may also be employees of Southeast Financial Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Southeast Financial Credit Union or Southeast Financial Wealth Management. Securities and insurance offered through LPL or its affiliates are:

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