CEO and Founder of Go Financial Aid, Andrew Reichert, was one of the first in his family to apply to college. After being accepted, financial aid proved to be a must and the process seemed overwhelming and confusing. The first step in the process, the FAFSA, was extremely unclear, even with the help of an accountant.
When the online FAFSA asked for the “Parents’ Adjusted Gross Income (AGI)” he submitted the incomes of both of his parents (since the question indicated plural possessive). Unfortunately, it did not state anywhere that if the student’s parents are divorced (which his were), only the income of the parent whom he lived with for a majority of the previous year was required.
Reichert realized this in time for his junior-year Renewal FAFSA and received a $3,500 grant for his junior and senior years of college. After missing out on this grant his first 2 years of school, due to completing the FAFSA incorrectly, he was forced to borrow additional student loans which were theoretically unnecessary and have since accrued interest. This generated a total loss of over $7,000 due to incorrect FAFSA completion!
Go Financial Aid was founded as a result of the difficulties surrounding the financial aid process. Reichert wanted families to have one company that would provide them with straight-forward information, while offering financial aid application services. Helping college-bound students submit these applications on-time and accurately would ensure that families were fully-eligible to receive their optimal financial aid package.
Additionally, having one source submit all applications, including the FAFSA, CSS Profile, and other financial aid supplement applications, would ensure that the information submitted is correct and consistent to all financial aid providers and lenders. Go Financial Aid centralizes the entire process of applying for financial aid while ensuring the timeliness and accuracy of each application.