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Browse FAFSA Articles

  • +1

    What Income is Listed on the FAFSA when Separated Parents File a Joint Tax Return?

    I am praying that you may be able to advise me on the FAFSA application. I am a senior in high school and will file the FAFSA in January. I live with my mom. My dad moved out almost 2 years ago. As part of my parents' agreement, my dad is paying for our rent and utilities. My mom and dad ...
    Published over 1 year ago | Rated: +1
  • +9

    Short Answers to A Few Common FAFSA Questions

    Does checking the Federal Work Study box on the FAFSA affect other forms of financial aid that a college might award, such as scholarships or other government aid? Is it wise to check this box even if you have not yet received a college's financial aid offer? — S. Z. Turning down one form of need-based financial aid generally does not ...
    Published over 4 years ago | Rated: +9
  • +23

    10 Easy-to-Make, Easy-to-Avoid Financial Aid Blunders

    10 Easy-to-Make, Easy-to-Avoid Financial Aid Blunders
    Filling out financial aid forms is challenging and a task, to say the least. But don’t rush the process – any mistakes can cause serious delays in the process or, worse, disqualify you all together. Though these seem like common sense-covered areas, the following are errors that students frequently make when filling out financial aid forms. Before submitting any financial aid ...
    Published 5 months ago | Rated: +23
  • +4

    Does Home Equity Affect Eligibility for Financial Aid? What If You Sell the Family Home?

    Ask Kantro: Does Home Equity Affect Eligibility for Financial Aid? What If You Sell the Family Home? Is home equity considered an asset when determining eligibility for aid? — Steve The net home equity of the family's principal place of residence (the family home) is not reported as an asset on the Free Application for Federal Student Aid (FAFSA). However, ...
    Published almost 3 years ago | Rated: +4
  • +7

    Does Parental Support Affect Independent Student Status?

    I am 19 and have a baby (1 month old) and I am living with my boyfriend and his mother. I am confused about whose tax information to use on the FAFSA. My boyfriend's mother is in Section 8 housing and put me in it and in her food stamps. — J.F. A student who has one or more dependent children ...
    Published over 1 year ago | Rated: +7
  • +6

    Family Incorrectly Reported 529 Plan as a Student Asset on the FAFSA

    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 ...
    Published over 2 years ago | Rated: +6
  • +8

    How Can I Fill the Gap Between Financial Aid and My Ability to Pay?

    I'm a soon-to-be college freshman. My tuition is close to $40,000 but financial aid only covers $19,000. My mother is a single parent making only $18,000 a year and I was wondering if there are any other options I can get besides loans that financial aid can help me with. — D.V. Something doesn't add up. The amount of financial aid ...
    Published about 3 years ago | Rated: +8
  • +4

    How the Increase in Financial Aid Applications Will Affect You

    How the Increase in Financial Aid Applications Will Affect You
    Colleges all over the country are seeing a rise in applications for federal financial aid. In 2008, more than a million more students applied for financial aid, marking a 10.5% increase from 2007. In the first quarter of 2009, applications for financial aid are up 20.8% as compared with the first quarter of 2008. Not only are more students applying for ...
    Published over 5 years ago | Rated: +4
  • +13

    How Do You Calculate Individual Income From a Joint Return for the FAFSA When the Parents Are Separated?

    In your answer to How Does Income Tax Filing Status Affect Student Aid?, you address the question of which parent is responsible for completing the FAFSA. However, I'm very curious as to how the filing status of separated parents affects how the FAFSA is processed, once the primary/custodial parent has completed it. That is, is it more advantageous for separated parents ...
    Published over 3 years ago | Rated: +13
  • +4

    Does Moving a 529 College Savings Plan into a Roth IRA Make Sense?

    Does it make sense to move our $40,000 529 college savings plan into a Roth IRA for our children who are both in college to shield the money from our asset consideration? We have a gross income of about $100,000 and no debt. They have some merit scholarships, but we have not qualified for need on the FAFSA. — Carolyn W. ...
    Published over 2 years ago | Rated: +4
  • +3

    Should Wealthy Parents Cut Family Income Tenfold to Help their Children Qualify for Need-Based Student Financial Aid?

    My wife and I make about $150,000 in combined income. We have probably $350,000 in home equity, $100,000 in rental property equity and $500,000 in retirement accounts. We have three kids in college and a fourth starting in the fall a year from now. We hope to quit our jobs at some point and move to Nicaragua (or another Central American ...
    Published over 2 years ago | Rated: +3
  • +6

    How is retirement income and past due child support reported on the FAFSA?

    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 ...
    Published over 4 years ago | Rated: +6
  • +7

    Does Adoption Affect an Orphan's Eligibility for Financial Aid?

    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 ...
    Published over 1 year ago | Rated: +7
  • +4

    Financial Aid and Scholarships for Undocumented Students

    What advice would you give on financial aid to undocumented students? — T.T. Before discussing financial aid for undocumented students, it is best for students who believe that they are undocumented to first confirm with their parents that they are indeed undocumented. A student who was born in the United States or certain territories or outlying possessions is a US citizen ...
    Published almost 2 years ago | Rated: +4
  • +4

    Answers to Common Questions about Dependency Status and Financial Aid

    Will my daughter's chances for receiving financial aid be higher if we don't claim her on our taxes? Household income is about $85,000 and she did not qualify for financial aid through the FAFSA. She is in a community college and is 20 years old. She recently moved out of our home but we are paying her college tuition. She has ...
    Published over 2 years ago | Rated: +4
  • +9

    Why Do Financial Aid Application Forms Use Last Year's Income?

    Why do the government and colleges use last year's income to determine financial aid for the current year? Our financial situation has changed, my husband was laid off last year but our FAFSA looks okay because of his severance pay. We need financial aid help in order to help our daughter who wants to attend college in the fall. How can ...
    Published about 1 year ago | Rated: +9
  • +7

    Why Does a Parent Qualify for More Financial Aid than Her Dependent Student Child When Both are in College?

    I am a 38-year-old wife and mother who decided to go to college 20 years out of high school. I am a student at an online college and receive financial aid myself. My son is a high school senior with a very small part time job at the local Burger King. He plans to attend an out-of-state college, however those plans ...
    Published over 1 year ago | Rated: +7
  • +5

    Why is Parental Information Required on the FAFSA for a Self-Sufficient Student?

    Why do we have to file the FAFSA when my daughter supports herself? My daughter has not lived with me or my husband for a year and a half while she’s been attending college. We do not support her financially, we do not pay for her education nor do we even send her money. She is completely self-sufficient, a fact of ...
    Published over 1 year ago | Rated: +5
  • +9

    How to Report Stocks on the FAFSA

    I am a single mom and my son will be entering his freshman year in college this fall. The FAFSA application asks for the gross income from last year's tax return. My W-2 total includes not only my salary but also stock grants that were given to me by my employer. This total in no way reflects the amount I lived ...
    Published over 4 years ago | Rated: +9
  • +5

    What Do You Do If Your Application for a FAFSA PIN is Rejected?

    If you get an email message that says "Your request for a Federal Student Aid PIN cannot be processed because the Social Security Number (SSN), name, or date of birth that you provided on your PIN application does not match your information on file at the Social Security Administration (SSA)... If you are sure that the SSN, name, and date of ...
    Published over 2 years ago | Rated: +5
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