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Richard Weiner
Financial Advisor
Tropical Financial Investment and Insurance Services
Located at Tropical Financial Credit Union
3050 Corporate Way
Miramar, FL 33025
Phone: 954-517-7738
Cell: 954-401-9548
Email: richard.weiner@lpl.com
September/October 2023
FAFSA Makeover
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
Richard Weiner 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. Tropical Financial Credit Union and Tropical Financial Investment and Insurance Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Tropical Financial Investment and Insurance Services, and may also be employees of Tropical Financial Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Tropical Financial Credit Union or Tropical Financial Investment and Insurance Services. Securities and insurance offered through LPL or its affiliates are:
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