John asks…
What to put for parent income on FAFSA if parent is unemployed?
Hello 🙂 I am filling out my FAFSA for financial aid and there is a question asking me to list my dad’s income in “how much did your father/ stepfather earn from working(wages, salaries, tips etc). My dad has been unemployed for the past year and I am unsure as to what to put. Does unemployment compensation count as income? Or should I leave it to $0 as the helpful hints on the side say to: Use Lines: 7 + 12 + 18* + Box 14 [Code A] of IRS Schedule K-1 (Form 1065) for IRS Form 1040, but I do not understand what it means. Can someone please clarify what I have to put for my dad’s income? Thank You.
Michelle answers:
Unemployment compensation is considered income. Put it down. You will still get the money from FAFSA but if you do not put anything it will slow FAFSA down.
Mary asks…
How do I change the start date on fafsa?
We filled out the fafsa papers for the fall but she wants to start during the summer now already. I checked everything but don’t know how to change the start date. Please help.
Thank you.
Michelle answers:
The summer is likely part of a different award year so you will most likely have to fill out an entirely new application.
The application you filled out was for fall 2013 and spring 2014. Most schools consider the summer as the last term of the year. So, that would include summer 2014.
To get aid for summer 2013 you will need to go back and fill out the 2012/2013 FAFSA application using your 2011 tax information. Your school also likely has a supplemental summer application you will need to complete as well.
Contact your financial aid office to make sure which award year the summer is included on. If by chance your is one of the few that consider it the first semester of the year then you will most likely just have to fill out a supplemental application with the school.
Paul asks…
What is the highest amount that FAFSA can grant a student?
I’m planning to apply for a FAFSA for my college but ok just wondering
1. How much is the highest amount the FAFSA can grant a student?
2. Can you use FAFSA only once?
3. Can you use FAFSA along with a scholarship?
Michelle answers:
1. The depends on what the student qualifies for and is awarded. The Pell Grant’s maximum is $5,500 per academic year. There are Stafford Loans as well, but I am not entirely sure on the limits of those.
2.You apply for FAFSA each year, and can use it for up to 6 years (12 semesters) or 150% of the required credits for the program.
3. Yes.
Mark asks…
What happens if I fill out a FAFSA and decide not to attend school?
I filled out a fafsa because I was thinking about returning to college, but decided its a bad time in my life to do so. Needless to say, I don’t want to be receiving grants for school I can’t attend. What should I do?
Michelle answers:
Don’t worry about it–you don’t have to do anything. You can’t receive aid unless you are enrolled at a school. Students often complete the FAFSA and have the results sent to mulitple schools so they can compare the financial aid packages offered by each school. If you never enroll in a school, then they cannot originate any aid for you, so there would be nothing for you to receive.
Although you are not required to, it would be nice if you let the schools whose codes you submitted on the FAFSA know that you will not be enrolling at this time so they don’t have to go to the trouble to figure out a package for you. A quick email to the FA department is usually all you need.
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