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Questions tagged [fafsa]

FAFSA is the Free Application for Federal Student Aid. Most college-bound students in the US will file this form when applying for financial aid or student loans.

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Questions regarding Adjusted Gross Incomes and their calculation

I was recently asked to provide my AGI by a governmental service outside my country and was wondering about its calculation, since Indian Tax Returns (ITRs) don't have a specific header for it. Should ...
Akuno's user avatar
  • 11
3 votes
1 answer
605 views

Can applying for a new loan affect my existing mortgage? (US)

I live in the US and I am a somewhat mature full-time graduate student. I have gone back to grad school after having spent some years working and I have children and a mortgage. My school has a policy ...
Time4Tea's user avatar
  • 695
1 vote
1 answer
84 views

Looking for guidance re: how to class inheritance funds so they do not impact FAFSA

My parents passed away and left a small inheritance that I am not planning to access until I near retirement (10-15 years). Most of the funds are currently in an IRA account. Will these funds impact ...
Michelle's user avatar
9 votes
5 answers
2k views

Prior to the student loan repayment changes -- when could an individual wind up being charged more in interest than their minimum payments?

When I had student loans I was able to make minimum payments on mygreatlakes (the website I was directed to go to after graduating). I have some recollection about these being special loans with extra ...
Sidney's user avatar
  • 468
3 votes
1 answer
401 views

What does the FAFSA mean by academic year?

Suppose you go to college with credits, which makes you an academic sophomore. I would assume you should go with the # of years you spend in college, not your academic progression, when filling out ...
joseph-parsons's user avatar
1 vote
1 answer
60 views

Would I qualify for an automatic 0 EFC on my FAFSA?

First of all, what does it mean to qualify for 0 EFC? Does it mean that any income I have, through internships or through taxable portions of other scholarships this year, is disregarded in ...
ARJ's user avatar
  • 167
1 vote
1 answer
402 views

Can I list my aunt, who has been my primary caretaker, as my parent on the FAFSA application?

I have lived with my aunt for all of my high school and most of my elementary school years. She has cared for me and paid EVERYTHING for me. She also carries me as a dependent on her taxes along with ...
College 2021's user avatar
1 vote
1 answer
3k views

Must my college send a 1098-T form for the financial aid checks they have sent me? Because, I haven't received anything at all

I did the basics to make sure that I'm not missing anything Check more than 3 times on my main college online account. No 1098-t forms. Check email more than 3 times. No 1098-t forms check mail more ...
The T's user avatar
  • 143
3 votes
1 answer
130 views

Do Social Security retirement benefits count when calculating financial aid?

Youngest child is starting college; parent is unemployed. Will the FAFSA consider the following, or will they be ignored for financial aid calculations? Retirement benefits (social security) ...
aparente001's user avatar
3 votes
2 answers
1k views

Federal Aid and Tuition Reimbursement at work

My situation is the following: my wife and I are adults who are trying to complete our first bachelor degrees respectively (we started our degrees and dropped out years ago) so far, we both have been ...
FAFSA Recipient's user avatar
-1 votes
1 answer
106 views

How to smartly enter information of the CSS Profile and IDAC form?

All need-based financial aid colleges in the USA require filling out the CSS Profile and IDOC Form to determine financial need. Hence it is in the student and his family's interest to show their ...
frustatedpax's user avatar
2 votes
1 answer
190 views

Catch-22 for FAFSA or confusion?

I can't finish my FAFSA because my W-2 is missing. I tried looking into tax forms for transcripts, but I didn't make enough in 2016 to have to file for a return. The point is that my financial aid ...
The T's user avatar
  • 143
4 votes
2 answers
342 views

Will having savings and investments count against my kids' college financial aid?

I have a fairly modest income (closer to the poverty line than median income), but because we live abroad, we're able to live comfortably and save responsibly. We max out our IRA contributions every ...
adam.baker's user avatar
3 votes
1 answer
104 views

FAFSA: ASTV Asset Verification - preventing savings from hurting financial aide

Let's say I have $19,000 combine in savings and checking but $8000 in credit card debt. The form asks for savings/checking. Do I have to enter the $19,000 or could I maybe get away with $11,000 and ...
Jason's user avatar
  • 1,199
5 votes
1 answer
429 views

Why does FAFSA consider my son a "dependent" when he's been on his own for 2 years?

After moving out 2 years ago, my son has finally decided that he wants to go to college so began applying for Federal Student Aid. The application seems to consider him a "dependent" though. I've ...
Michael J.'s user avatar
4 votes
1 answer
139 views

How much Wait time is needed for new USA permanent residents to Apply for Student Financial Aid

How much Wait time is needed for new USA permanent residents to Apply for Student Financial Aid for Graduate and Undergraduate studies? I heard you need to wait for one year until you can apply for ...
Hashmatullah Noorzai's user avatar
7 votes
5 answers
4k views

College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan

This is currently happening to a friend. She is 19 years old and doesn't qualify as an 'independent' on the FAFSA. Her parents refuse to apply for the Parent PLUS loan and also refuse to cosign for a ...
Chris Cirefice's user avatar
0 votes
1 answer
132 views

Do I have a time limit on my financial aid if I'm only using Pell Grants

I am enrolled in an Associates of Applied Science degree at community college. My grants have been enough to pay for the credit hours, so I have not taken out direct loans. Conversation wise, people ...
Chris Walsh's user avatar
22 votes
2 answers
8k views

Using fiancée's money to pay off my student debt

I have a student loan in my name and I just got engaged (Yay!) about 2 months ago. My fiancée has been saving up and is really interested in helping us get out of debt before the wedding. I think we ...
Phil's user avatar
  • 823
1 vote
1 answer
70 views

How is "money loaned to friend" classified on FAFSA?

I'm filling out FAFSA for graduate school and wonder how I should classify the money I loan to a friend. It's a big amount (~ $10,000) and was transferred informally, i.e. I just cut him a check with ...
Heisenberg's user avatar
1 vote
1 answer
369 views

Under federal rules, does a non-taxable IRA Roth Conversion impact school financial aid?

If you convert a traditional IRA to a Roth IRA and all the funds were deposited into the traditional IRA as non-deductible contributions, and there is no gain, and thus there is no income by the ...
WilliamKF's user avatar
  • 1,823
-4 votes
1 answer
4k views

How does Pell Grant work for students with a foreign Bachelor's?

I have an MD degree from a foreign institution. But because I got that foreign MD from an unaccredited medical school 30 years ago, I can't find a job in the U.S. Therefore, I decided to get at least ...
user3191304's user avatar
1 vote
1 answer
104 views

Not sure whether to File this Year

I am supposed to apply for the FAFSA each year, and on the FAFSA it asks about our taxes (in case we file). I am not receiving a W-2 this year since I was not on a payroll for the entire year 2014. I ...
The Substitute's user avatar
1 vote
1 answer
147 views

FAFSA, internship and a new house

I completed 2 internship this year and my total income was roughly 24K. I had 7k or so withheld. I wrote checks to my parents:5k to contribute with the minimum to receive a mortgage loan required and ...
lulu92's user avatar
  • 11
6 votes
1 answer
1k views

My parent claimed me as a dependent on their 2012 taxes. Do I have to claim their income on my FAFSA?

I'm 24 and I'm now living on my own and working. However, my parent claimed me for 2012 as a dependent. How will this affect my FAFSA? Will I have to claim my parent's income?
Jamie's user avatar
  • 61
2 votes
2 answers
2k views

How should I specify income that was saved abroad on my children's FAFSA?

I lived and worked in London (even though I'm an American) for the last 5 years, and now I'll be heading back to the states. My children are about to start college and I have money saved in an ...
Samuel's user avatar
  • 53
5 votes
1 answer
104 views

FAFSA implications of filing jointly?

Recently our accountant filed a tax return as married for my partner and me (we live together). She is applying for FAFSA and is not sure whether she should be reflecting her marital status from our ...
Kermit's user avatar
  • 151
4 votes
1 answer
11k views

FAFSA: Do I still report my parents' income if I am not claimed as dependent?

I'm 19 and it's nearly time to fill out the FAFSA again. Most of the time, until you're 24 (or is it 25?) you report your parents' income on the FAFSA. However, my parents do not claim me as a ...
nick's user avatar
  • 217
2 votes
1 answer
730 views

How do I fill out my FAFSA form if my mom has two jobs?

My mom gets two separate W-2 forms from two separate jobs. How do I take this into account when filling out my FAFSA form?
Andrew's user avatar
  • 133