Lisa asks…
My income is dramatically different from when I filled out FAFSA, how can I get more aid?
When I filled out the FAFSA form for this years financial aid, they asked for my income information from two years ago. Back then I was making significantly more money than I am now. I feel like the estimated amount of need is too low. Who do I talk to about this, and is there a way I can show that I have more need? Do I have to take out a personal loan or up my hours at work?
Michelle answers:
They ask for the previous years’ income information because you’re expected to save and pay for some of your own schooling (depending on what your income was). If you’re classified as a displaced worker, then you will qualify for an amendment (contact your financial aid office). If you do not classify as a displaced worker, then it doesn’t matter what your current income is… They’ll still go by your income in 2009 (for the 2010-2011 fafsa). Next year when you fill out the 2011-2012 fafsa, you’ll use your 2010 income and you may receive more aid during the next school year. I would increase your work hours before you take out a personal loan… And you should be looking at student loans, not personal loans. If you’re not working full-time, then increase your hours if you need more money.
Richard asks…
How and where do I find out how much my fafsa is paying?
I filed my fafsa a little over a week ago. I have no recieved anything in the mail nor have I recieved an email of any kind. My schooling will be roughly around $7,000. My EFC is 8375? What does this mean? Is that bad? Thanks!
Michelle answers:
If your EFC is over 5274, you won’t qualify for any Pell Grants. You might be eligible for some state or institutional grants. Check with your school’s financial aid office – they might need some additional information. Schools typically receive your FAFSA results within 2 business days, so they should be able to give you further instructions if you give them a call!
Steven asks…
Fafsa?????
IF you have both parents, what would happen if you only put one parents income for the FAFSA? What happens if you do not qualify for the FAFSA?
Michelle answers:
You are supposed to use the income of the parent you lived with the most in the last 12 months.
If it was neither, you use the income of the one that gave you the most support in the last 12 months.
If you live with both parents, you must use them both. It doesn’t matter if they file sep. Or married filing jointly. You would have to add their income together if they file married filing sep.
Mary asks…
Can I use fafsa money to buy a laundry bag and bag to wash my bra in?
Can I use fafsa money to buy a laundry bag and bag to wash my bra in? Would that be considered supplies? Can I buy a drawer thing to put my clothes in with fafsa loan money?
Michelle answers:
Of course. Anything that you will need for school. Some kids stupidly accept higher loans so they have more to spend but dont forget you have to pay that back and with interest so you do not want huge monthly payments when you have to start paying them back and interest will be adding on those totals so keep them low, only to what you need and personal expenses and you can even use the loan money for travel expenses like gas or even to go home if you go to school away from college buying a train or plane ticket.
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