Sandra asks…
A student tax transcript required for fafsa verification, but i didnt work last year?
Ive been selected for FAFSA verification, turns out, i need to file a request for student tax transcript for 2011, but the thing is i did not work for the entire year last year? How am i suppose to correct this?
Michelle answers:
If you didn’t work, and didn’t have substantial income from other sources like investments, then chances are, you weren’t required to file a tax return. If that’s the case, then you don’t need to supply a tax transcript for verification. However, if you are a dependent student, you would still need to supply a transcript for your parent(s) if they filed a return.
Did you check the box that reads “I’m not going to file” for question # 32 on the FAFSA? If so, your school won’t require a tax transcript. If not, then go back to the FAFSA website and correct your FAFSA to show that answer. That should take care of the problem.
Donald asks…
How much is considered too much for parent’s annual salary for FAFSA to deny one’s application?
I want to apply for FAFSA for this fall however I have heard that I may not be eligible or I may not receive sufficient funds. My mother is the only working parent and she makes around $60,000 – $79,000 a year (she is an RN). She provides for my father and I (I am an only child). Is her salary considered too much to receive funds from FAFSA? If so, what is the limit?
Michelle answers:
There is no set income level. There are many many other factors that go into calculating your EFC. Also, FAFSA doesn’t completely deny anyone. Everyone qualifies for a federal stafford unsubsidized loan. You will need to fill out the FAFSA to figure out what you qualify for.
James asks…
How long do i have to wait until i get a response from FAFSA?
I just submitted an application for FAFSA and in order to apply for any other grants i have to wait for their answers. How long does it take to get a response from FAFSA?
Michelle answers:
FAFSA is just the name of the form, forms cannot respond, the government will respond. Since you have filled this out late in the game it may take longer, usually a week when they are in peek processing, so it may take longer. After that it goes to the school, they will take 4-8 weeks to return an aid award letter to you.
Paul asks…
How long does it take for an institution to receive an update from FAFSA after corrections have been processed?
I submitted FAFSA and then made corrections a day later. The institution has received the first transaction but not the second (the corrections). I see the corrections have processed on FAFSA‘s site. Can I go to the financial aid office of my institution and will they be able to pull the latest transactions instantly? Or should I print out the corrections? I just don’t want the corrections to be overlooked and I want to get everything out of the way ASAP.
Michelle answers:
Just leave them alone. They never overlook anything and you are just causing them more of a distraction by calling/stopping in and forcing them to look up your file. They hae a lot on their plate at the moment, processing financial aid for the entire University, which I think that a lot of students fail to realize. So they will get it done when they get it done. You will not get your award letter until mid April anyway, so just calm down and be patient.
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