George 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?
Nagesh 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.
Ken asks…
How do you fill out your fafsa when your financial situation has changed?
How am I supposed to fill out my fafsa information for the next school year when my financial situation is not the same as it is on my taxes for last year. I was recently laid off my job and the only income we have now is my husbands, do I still fill it out as I normally would with my last years tax information?
Nagesh answers:
PBE:
The FAFSA application process does not provide any type of allowance for “changed circumstances”, but your school’s financial aid office will.
When you complete the FAFSA, you must provide the exact information requested – for the exact time period specified. In other words, where the form asks for information about your 2008 tax returns, you’ll have to respond with the information, exactly as it was filed.
HOWEVER….
Financial aid officers are all permitted to make adjustments to a student’s aid offer if the student is able to document that his/her FAFSA application is no longer representative of their current economic circumstances.
Typical “changed circumstances” situations include:
Layoff of the student and/or the spouse or parent(s)
Illness or injury
Disability
Hurricane, flood, tornado or earthquake damage
Complete the FAFSA as normal – but contact financial aid, and ask them what you need to do to make a changed circumstances appeal. I can’t promise that they will make changes to your offer, but I can guarantee you that they will certainly consider it.
Good luck to you – I hope this helps you and good luck on the job front, too!
Lisa asks…
How do I use my Fafsa to pay for registration?
I’m going to register for my classes tomorrow. I applied for fafsa and it said I could recieve a $5000 grant. I havn’t recieved any money from it and I think I have to pay fees tomorrow but I’m broke.. Does the Fafsa info just automatically go to the school to which I’m applying to? Do I have to pay right then and there or just before the semester starts? (Semester starts in a few weeks and its a community college btw) thanks.
Nagesh answers:
You ARE NOT too late! If you already filled out your FAFSA for the 2012-2013 fiscal year & it said that you could receive a $5000 grant then all you need to do is go to your selected school & take testing so you can register for classes. I’m a student right now & when I log into my school email account, there is an announcement on the board that says “Haven’t filled out the FAFSA for Spring 2012? It’s not too late!”. The school will be able to pull up the info that you submitted on your FAFSA; the school does not get paid the grant money until after the add/drop period, which is usually 2-3 weeks after class starts. Contact admissions &/or the financial aid office; they’ll tell you what steps to take. You should be able to enroll.
Sandy 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?
Nagesh 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.
Thomas 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?
Nagesh 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.
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