My daughter turned 18 recently, and received a $25,000 mutual fund statement with her name on it. Her aunt had put $10,000 away in 1995 in a gift trust account for a minor. This was a mutual fund account in which the interest was reinvested each year and therefore no IRS interest statements were generated. We were unaware that her aunt ...

I adopted a special needs foster child when he was 11 years old. I have been told he does not qualify for any aid. I recently learned that if I would have adopted him at age 13 he would of received a full scholarship. My son wants to attend a private college at approximately $43,000 per year. Do you have any ...

Filling out the FAFSA could be your ticket to some of the more than $80 billion the federal government provides in grants, loans and work-study programs every year. The FAFSA can also help you get state and school-based financial aid. It could be the most important financial aid form you complete. Find out what the FAFSA is all about. FastWeb's FAFSA ...

I lost my teaching job last June and got a half year's salary instead of a full year. I did not get a job in the fall, so our household income was operating on half of my income. My husband's work status is the same, so we are at three-quarters. This year I do not have a job. Is there any ...

I am confused about which parent's information to include on the Free Application for Federal Student Aid (FAFSA). My ex-husband paid child support for 7 months this year from a settlement agreement but has been unemployed for nearly two years. He is re-married. My son is 18, lives with me, and starts college next fall. This year my ex-husband gets to ...

As the year draws to a close, there are several steps families can take to get more need-based and merit-based financial aid. Prepay Next Year's Tuition Taxpayers can claim one of two education tax credits based on amounts paid for qualified higher education expenses, such as tuition and fees. These are the American Opportunity Tax Credit (AOTC) and the Lifetime Learning ...

I have been a single mother raising twin daughters pretty much all their life but recently (2 years ago) remarried a fairly successful man who has from day one said he will not contribute to their education. He provides absolutely NO support for the girls, I pay their tuition and everything else they need all on my own. My daughters are ...

On the FAFSA we listed the value of all three of our children's 529 plan accounts, not just our oldest son's 529 plan. There was no way to differentiate the amounts among the three children. Can we change this and enter only the amount of the oldest son's account since we won't be using the other two children's accounts to pay ...

I am trying to advise two students whose mother died four years ago and their father died last week, unfortunately. The girls' grandmother is now taking care of them (a 9th and 10th grader) and we are concerned about the possible college financial ramifications. They are in the process of determining the Social Security benefits from their father's contributions. Once that ...

I am a disabled parent who hasn't worked since 2007. I am currently on long term disability and have been ruled disabled by the Social Security Administration. My child is heading off to college in the fall and we are working on his FAFSA. My Social Security came through in late November in a large lump sum due to back dating. ...

If a student lives with a grandparent, is there any way the student can use the grandparent's income tax information on her FAFSA? I have lived with my grandmother for all 17 years of my life. My parents currently pay a small amount of child support to her, but that is the only financial support that I receive from them. My ...

I have two questions which I assume you've been asked a million times and I just want to make sure I'm understanding the write-ups about them correctly. We have a regular UGMA/UTMA savings account for our daughter where we are the custodian. In the FAFSA application, should this be entered under the student or the parent? Am I assuming correctly that ...

My daughter is a high school junior. I have just refinanced with cash out for a home remodel to accommodate my aging parents. However the remodel is delayed and the money is still in our account. The remodel should be completed and the money spent by the time my daughter starts her senior year. Will this money be counted as asset ...

Grandma is moving in with her Social Security check. Does this help or hurt my FAFSA results? Does her Social Security check count towards my parents' income on the FAFSA? — Doreen Y. The answer is complicated and depends on whether Grandma receives the Social Security benefits in her own name or whether they are received by your parents on her ...

I am trying to fill out my FAFSA. My father retired last year and I am confused as to what to put for his financial answers, for example, gross income, taxes, etc. Do I fill out a separate form because he is retired? Will they know that he is retired? I am so lost and getting frustrated. Please help! — Alexa ...

My grandson lives with his grandfather and me. His parents do not support him other than providing medical insurance. He will claim himself on his 2012 income tax and his parents financials are not available to us. How do we handle completing the FAFSA and applying for scholarships, etc.? I am more than willing to provide our information if that is ...

I am retired with no income from employment and a moderate amount of investment income, $20,000 to $30,000 a year. I am contemplating a partial conversion from my traditional IRA to a Roth IRA. Such conversion is included in my adjusted gross income, but is not really spendable income to support my son's education. If I make such a conversion, would ...

I'm 23 and have a 4-year-old child. Last year I received independent status for my financial aid because I supported my child more than 51% of his needs. This year the financial aid office asked for the same documents as last year but told me that I couldn't be an independent student because I didn't have enough documented proof. I explained ...

Applying for financial aid is easier than you think. Your first stop: the (FAFSA). For many schools, this is the only form you need. What is it? The FAFSA is the form the federal government uses to determine your eligibility for federal assistance (loans, grants, work-study appointments and some scholarships). Schools also base their financial aid packages on the FAFSA. And, ...

Each of my parents left me a trust. From each trust I am entitled to the interest income and $5,000 annually. The remainder of the principal stays in the trusts until I die. The trusts then terminate, and the remaining principal is distributed to my son. My son is the one going to college, by the way. This skews my EFC ...