Oyin Adedoyin

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1,572 appearances 36 recordings 1 series first heard Mar 2023 last heard Feb 2025

Oyin Adedoyin’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · The ‘Sibling Discount’ for College Financial-Aid Is Ending · 25 Jul 2023 podcast

That increases each student's ability to qualify for financial aid, for example.

Now that discount, so to speak, is going away.

So the education department is no longer going to include the number of siblings in college as a factor in determining whether or not you qualify for more aid.

Yeah.

So the interesting thing about this is that some families are going to lose out on financial aid that they may have qualified for in the past, but others are actually going to be more able to qualify for financial aid.

So one mother I spoke to in Tennessee has three kids.

Her oldest daughter is already in college, but her younger two aren't too far behind her.

Her and her wife make a combined household income that's over $100K.

So her oldest daughter didn't qualify for any Pell Grants or other types of federal student aid.

However, she has another daughter that's about to graduate high school.

And she was kind of hoping that when her daughter now comes into college and her youngest son then follows behind her, she would begin to qualify for those sibling discounts, which would make college overall more affordable for that family.

These changes are really part of a greater goal to simplify the FAFSA.

The current system is pretty clunky and complicated for families to navigate through.

So the new FAFSA is going to have different questions, it's going to be a lot shorter, and it's going to be directly connected to federal tax forms.

This new formula is going to expand access to systems of federal aid like the Pell Grant.

So more students than ever are going to be able to qualify for this.

And that's what financial aid officers were telling me.

For some families, this is really going to change the financial aid award that they're used to getting every year.

For those families that I mentioned earlier with multiple kids in college at the same time, they may see a smaller financial aid package than they've seen in previous years.

And that's going to mean that they're going to have to reach out to their own financial aid offices and inquire about ways that maybe that number can be adjusted from the institution's level.

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