Mahopac presentation explains new FAFSA process, SAI, PLUS loan costs and New York state aid

April Umich, the Mahopac Central School district’s administrator for school counseling, opened a public college financial aid workshop and introduced Dan Robinson, campus director of financial aid at Pace University’s Pleasantville campus, to explain federal and New York State aid and answer parents’ questions.

Robinson summarized the most immediate change families face: the federal FAFSA process has been updated and the Expected Family Contribution has been renamed the Student Aid Index (SAI). He urged families to set up FSA IDs for the student and each parent before filing and to use the federal Student Aid Estimator to preview need. "It could take you as little as 10 minutes to fill out," Robinson said of the new FAFSA form. He added that because of lingering technical issues the Department of Education is staging the rollout and that "come December 1, everybody will be able to file their FAFSA."

Why it matters: the new SAI and the updated FAFSA change how families’ financial need is calculated and affect eligibility for federal grants, work‑study and loans; missing deadlines or failing to provision an FSA ID can delay or prevent consideration for institutional priority awards.

Robinson walked through the major categories of aid: gift aid (scholarships and grants), self‑help (federal work‑study) and loans. He explained Pell Grants and the Federal Supplemental Educational Opportunity Grant (SEOG), noting SEOG is awarded by individual schools only to Pell recipients. He also described the TEACH Grant, which can provide up to $4,000 per year for education majors but becomes a loan if recipients do not meet postgraduation teaching requirements.

On loans, Robinson distinguished subsidized and unsubsidized Direct Loans for students and described the Federal Direct PLUS loan available to parents. "This year is 9.05%," Robinson said of the PLUS interest rate, and he added that the federal government currently deducts about 4.25% from the loan at disbursement as an origination adjustment. He advised PLUS loans as a last resort because of cost.

Robinson emphasized that schools use FAFSA data (and sometimes the CSS Profile) to determine institutional aid; the CSS Profile opens Oct. 1 on the College Board website and carries an initial $25 fee plus per‑school charges for institutions that require it. He urged families to check each college’s deadlines and financial‑aid office requirements.

State aid for New York residents was covered in detail. Robinson said New York’s Tuition Assistance Program (TAP) generally requires at least one year of state residency and looks at student and parent dependency; he said families with New York State net taxable income below $125,000 may qualify for TAP. He noted TAP awards range on a sliding scale (Robinson cited a minimum this year of $1,000 and a maximum near $5,665) and described the Excelsior Scholarship (tuition only for SUNY/CUNY schools, with credit‑completion and in‑state work obligations) plus an enhanced tuition award for participating private New York colleges and a STEM award for top STEM performers who commit to in‑state employment after graduation.

Robinson outlined the FAFSA mechanics: the form pulls 2023 tax information via IRS direct data exchange if parents and students provide consent; asset reporting requires current cash/savings values (after monthly bills), the net value of businesses and non‑primary real estate, and 529 plan values when owned by a parent or student (Robinson said parental‑owned 529s count as parental assets, while custodial or student‑owned accounts are treated as student assets). He reminded parents that the family home and retirement accounts (401(k), 403(b), IRAs) are not reported on the FAFSA. He also explained verification selection and that some schools may ask for additional documentation when figures appear inconsistent.

During Q&A, parents posed frequent, practical questions about separation and tax filing status, custodial 529s, and foster‑care stipends. Robinson advised that the contributor(s) listed on the FAFSA should match the tax‑filing reality (for example, a parent filing as head of household will be the primary contributor) and that foster‑care payments received by or for a child generally are not reported as income or assets unless already on a tax return.

Robinson closed by encouraging families to file the FAFSA in the first year even if they expect little aid, to search local scholarships (which often go unclaimed), and to avoid paid FAFSA‑filling services. April Umich told families the presentation was being recorded and that digital materials and links would be posted; she also invited families to a college admissions roundtable on Wednesday, Oct. 9 at 7 p.m.

Next steps: the district will post the recorded presentation and handouts; families were advised to set up FSA IDs now, check college priority deadlines, and consult financial‑aid offices about institution‑specific requirements.