Richard asks…
How does FAFSA figure the financial aid you should receive?
I just completed my FAFSA. I’ve lived on my own for two years but I still need my parents tax information, which I think is ridiculous. Does anybody know how they figure what you are able to receive in financial aid?
Well, I’ve already done all this. I’ve done my parents tax information, and mine. I just don’t understand how they assume that if you’re under 25, you still need your parents tax information.
Michelle answers:
The dependency requirements were decided on by Congress when they originally built the financial aid model. They believe that parents have a responsibility toward helping their children attain their first degree. That is why it is ridiculous. Ridiculous to think that your parents should help! I agree it does hurt a small faction of students though where the parents are ridiculous and refuse to cooperate with the FAFSA information.
Anyhow. The FAFSA collects information about your family size, number of people attending college, income earned and investment values and spits out a number called the EFC (Estimated Family Contribution). This is the number that decides whether you are Pell grant eligible, and is used by the Aid office to determine your overall need and awards. I’m not going to get into the formula… It makes my head hurt and its been a long week.
Give your Aid office a week after you have filed your FAFSA then talk to them about when you can expect an awards letter. If you have already been accepted, or deposited with admissions, the award letter should come pretty soon after they have a chance to process it.
George asks…
How can the FAFSA form for the 2010-2011 school year have a priority deadline of February 1st?
Some parents don’t even get their W2 forms until after February 1st, so they don’t know what their gross income is, let alone their adjusted gross income. If somebody that is filling out the FAFSA 2010-2011 school year form or somebody else who knows can help me clear this up, that would be great. Thank you.
Michelle answers:
When filling it out choose “WILL FILE” then enter the information from 2008, if it’s about the same. Later you can update it with “HAS FILED” and the correct information. 🙂
Mary asks…
Can a son receive the FAFSA if his father is currently receiving the FAFSA?
My boyfriend is applying for the FAFSA and he’s an independent under 24 with divorced parents. He’s unsure whether to report his father’s earnings or his mother’s. His father (who has four other dependents and lived off of food stamps in the last 5 years) was approved for the FAFSA and is currently using it. His mother made 90k last year but declared bankruptcy a week ago. My question is, would it hurt him to report his father who is on the FAFSA more than his mother?
Michelle answers:
If your boyfriend is still a dependent he will need to provide the information of the parent who provided the most support to him during the past year (provided that he doesn’t live with either of them). This could be a parent who bought him any clothes or food, etc. If neither parent contributed anything to him, then he is supposed to use the information of the parent who makes the most money (this is all on the fafsa website in the FAQs section).
Yes, a son and father can both receive fafsa at the same time. In addition, your boyfriend would probably get more money reporting his father’s income, as bankruptcy makes no difference… It’s purely income. He will also have to report his income. If he’s asked for verification, he’ll have to prove that he was correct in choosing the parent that he did — by proof of support. Good luck to you.
Jenny asks…
Why does the Department of Education FAFSA laws dictate a family’s choice to raise independent children?
FAFSA app has 7 criterions one must meet in order to claim independent status. Most students parents raise them to be independent to handle their own college costs so the parent(s) can save for their retirement. It is so easy for the government to say its the parent’s responsibility to pay their child’s education; but the schools & the govt have a business relationship with each other in order to stick parents with even more debt for the sake of educating their children. As a parent, I taught my child to be financially responsible and independent because I have to also save for my retirement. At 18 years old, a child can apply for credit, rent apartments and apply for car loans. Why can’t the same child apply for school loans under FAFSA? Esp. under the circumstances the parent(s)saving for their retirement& not be dependent on their kids in their elder years. The DOE is such a joke because it appears to give grants to schools to help students only to issue $$$ loans and a $50 grant!
Michelle answers:
Actually, it’s not the Department of Education. Congress determines what calculations are used for an EFC and whether a student is Independent or Dependent. It’s part of the Higher Education Act of 1965. It is subject to “reauthorization” where Congress has to review the Act. This link provides some of the bills and legislation: http://www.nchelp.org/elibrary/index.cfm?parent=1791
Schools use the EFC (Expected Family Contribution) in conjunction with the school’s COA (Cost of Attendance) to determine what types of aid a student is eligible for. So it’s not the DOE per se that determines what financial aid a student will receive.
I know it’s very frustrating! All I can suggest is to contact your congressional representatives and express your concerns to them regarding the FAFSA. Good luck!
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