My parents have a lot of debts. Isn’t there a place to report their expenses on the FAFSA?
No. The formula used by the Federal processor to calculate the Expected Family Contribution assumes that a certain amount of income is needed to support a family. Also, it is based on the household size and the number of family members in college. The Federal financial aid methodology does not make allowances for different lifestyle choices, which often influence the amount of a family’s living expenses.
