FAFSA

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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rinkrat19
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Joined: Sat Sep 25, 2010 5:35 am

Re: FAFSA

Postby rinkrat19 » Sun Jan 30, 2011 11:52 pm

r6_philly wrote:
rinkrat19 wrote:
Seems like if you didn't use any FAFSA benefits during UG (ah, back in the good ol' days when mommy and daddy wrote tuition checks), the eligibility for grants should carry over to grad school. :P


Doesn't work that way. No government grants for grad school, only institutional ones.


Oh, I know. I'm just saying that everyone should get them once, whether it's in UG or grad. To be fair.

Not that the world is fair.

r6_philly
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Re: FAFSA

Postby r6_philly » Sun Jan 30, 2011 11:59 pm

rinkrat19 wrote:Oh, I know. I'm just saying that everyone should get them once, whether it's in UG or grad. To be fair.

Not that the world is fair.


Well I think the aid should go to the needy, so UG > G, it's pretty fair.

maglialoro
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Re: FAFSA

Postby maglialoro » Mon Jan 31, 2011 4:02 pm

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Last edited by maglialoro on Thu Mar 10, 2011 9:45 pm, edited 1 time in total.

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Eugenie Danglars
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Re: FAFSA

Postby Eugenie Danglars » Tue Feb 01, 2011 11:00 am

maglialoro wrote:If I do not expect need based aid considering my parents income, should i just not include and exempt myself from the process? Even though i dont expect any help from my parents, i dont want their income to affect the amount of loans i can take out, since i may need to take out a lot to finance


If you want federal loan eligibility, you must complete the FAFSA.

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Excellence = a Habit
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Re: FAFSA

Postby Excellence = a Habit » Sat Feb 05, 2011 4:57 pm

Has anyone else had their data completely erased by FAFSA? I started the form on January 1, but have been waiting since then for my parents to get their shit together enough to send me last year's tax info. I finally got it and signed back in to complete the forms, but all my info is gone. I called twice to try to get someone who could fix it, but their best guess is that I accidentally clicked "Clear all data" (which, conveniently, is right next to "Save"). I don't think I did that, since the website had absolutely no record of my account and I had to create a new one (as opposed to my logging in and finding no data). Anyway, I don't think there's anything for it but to start over as soon as possible, but if this has happened to anyone else, let's commiserate together.

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Gemini
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Re: FAFSA

Postby Gemini » Thu Feb 10, 2011 7:15 pm

I apologize if this has been asked before but I'm very frustrated.

FAFSA asks for number of exemptions. I filed a 1040EZ. It says If I checked off something (which I did) then I'd find the number of exemptions on the EZ worksheet on line F.

But the problem is that THERE IS NO LINE F ON THE EZ WORKSHEET. :twisted:


Also, is a 1040A the same as a 1040-schedule A?

r6_philly
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Re: FAFSA

Postby r6_philly » Thu Feb 10, 2011 7:21 pm

Gemini wrote:I apologize if this has been asked before but I'm very frustrated.

FAFSA asks for number of exemptions. I filed a 1040EZ. It says If I checked off something (which I did) then I'd find the number of exemptions on the EZ worksheet on line F.

But the problem is that THERE IS NO LINE F ON THE EZ WORKSHEET. :twisted:


You exemption is 1 unless you have dependents or married. It isn't line F on the EZ worksheet, it should be line F on the actual filed EZ form.


Also, is a 1040A the same as a 1040-schedule A?


1040A is non-resident I think, it isn't the same as schedule A.

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Gemini
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Re: FAFSA

Postby Gemini » Thu Feb 10, 2011 7:28 pm

Thanks so much, R6! Now my only question left is if it would be beneficial to put my assets down, because FAFSA is not requiring it of me.

r6_philly
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Re: FAFSA

Postby r6_philly » Thu Feb 10, 2011 7:31 pm

Gemini wrote:Thanks so much, R6! Now my only question left is if it would be beneficial to put my assets down, because FAFSA is not requiring it of me.


It will not be beneficial to voluntarily disclose you own stuff. Chances are you will have to disclose elsewhere, but you don't have to do it on FAFSA if it doesn't ask you.

You are welcome! :)

Anonymous Loser
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Re: FAFSA

Postby Anonymous Loser » Thu Feb 10, 2011 8:03 pm

r6_philly wrote:
Gemini wrote:I apologize if this has been asked before but I'm very frustrated.

FAFSA asks for number of exemptions. I filed a 1040EZ. It says If I checked off something (which I did) then I'd find the number of exemptions on the EZ worksheet on line F.

But the problem is that THERE IS NO LINE F ON THE EZ WORKSHEET. :twisted:


You exemption is 1 unless you have dependents or married. It isn't line F on the EZ worksheet, it should be line F on the actual filed EZ form.


Turn your 1040EZ over and look at the back: in between line E and line G you'll find line F. Seriously, it's a one page form, it's not that fucking hard to navigate.

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Gemini
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Re: FAFSA

Postby Gemini » Thu Feb 10, 2011 8:05 pm

Hey loser, thanks for your (unnecessary) input. My tax forms have been printed out one sided and not sent yet so I have the unofficial forms only. So no, I don't have line F. Thanks for your time.

too old for this sh*
Posts: 124
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Re: FAFSA

Postby too old for this sh* » Thu Feb 10, 2011 8:58 pm

r6_philly wrote:
Gemini wrote:Also, is a 1040A the same as a 1040-schedule A?


1040A is non-resident I think, it isn't the same as schedule A.


Partially correct...Schedule A goes with the 1040 for itemizing deductions, but the 1040A is NOT simply a non-resident thing. Rather it is a slightly less complex filing for those of us who may not need the Schedules and therefore do not NEED to file the 1040. I have used it in the years where Line 27 would be less than $100K or where I did not have deductions to itemize. Most years I just file 1040 even if I could have used 1040A simply because they sent out the forms that matched what was filed the previous tax year...and I was too lazy to get new ones from the Post Office or (in recent years) to print them off the IRS website.

IsleMet
Posts: 162
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Re: FAFSA

Postby IsleMet » Tue Feb 15, 2011 1:57 pm

Maybe this has been addressed earlier, but I can't find any info...

Will I receive less in loans/grants if my ECF is higher? I am currently a teacher (Teach for America) and made roughly $50,000 over the course of the last year, however, after paying for undergrad loans, the COL in NYC, and graduate school tuition, I have saved absolutely nothing (living a rather spartan life nonetheless). Overall, my EFC was about $14,000. Taking into consideration that I will not be earning that income next year and that I have no savings and a ton of undergrad debt, shouldn't my ECF be 0?

I'm working on the NeedAccess form now which includes parental data so this should help me out I hope (poor parents).

Any feedback would appreciated!

r6_philly
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Joined: Sat Dec 19, 2009 4:32 pm

Re: FAFSA

Postby r6_philly » Tue Feb 15, 2011 2:00 pm

IsleMet wrote:Maybe this has been addressed earlier, but I can't find any info...

Will I receive less in loans/grants if my ECF is higher? I am currently a teacher (Teach for America) and made roughly $50,000 over the course of the last year, however, after paying for undergrad loans, the COL in NYC, and graduate school tuition, I have saved absolutely nothing (living a rather spartan life nonetheless). Overall, my EFC was about $14,000. Taking into consideration that I will not be earning that income next year and that I have no savings and a ton of undergrad debt, shouldn't my ECF be 0?

I'm working on the NeedAccess form now which includes parental data so this should help me out I hope (poor parents).

Any feedback would appreciated!


Schools told me that they will consider the fact that my income from now will not be available once I start school. They will probably calculate a percentage of that as your contribution for first year only. It shouldn't reduce your loan eligibility. As alluded to before, schools don't use EFC, they use their own formulas based on the information you provide. I just usually use EFC as an approximation of how not-rich one is lol.

IsleMet
Posts: 162
Joined: Sun Jun 27, 2010 12:06 pm

Re: FAFSA

Postby IsleMet » Tue Feb 15, 2011 4:04 pm

IsleMet wrote:Maybe this has been addressed earlier, but I can't find any info...

Will I receive less in loans/grants if my ECF is higher? I am currently a teacher (Teach for America) and made roughly $50,000 over the course of the last year, however, after paying for undergrad loans, the COL in NYC, and graduate school tuition, I have saved absolutely nothing (living a rather spartan life nonetheless). Overall, my EFC was about $14,000. Taking into consideration that I will not be earning that income next year and that I have no savings and a ton of undergrad debt, shouldn't my ECF be 0?

I'm working on the NeedAccess form now which includes parental data so this should help me out I hope (poor parents).

Any feedback would appreciated!


Ha, oh okay. I just want to make sure that schools don't think I'm rolling in money because my ECF turned out to be $14,000 lol. I have no assets or savings and the only reason that I have money is because I chose to teach for a couple of years before law school (as compared to those that enter right out of undergrad and did not earn any kind of salary before hand).

bbermud
Posts: 139
Joined: Sun Nov 28, 2010 7:35 am

Re: FAFSA

Postby bbermud » Wed Feb 16, 2011 8:56 pm

what would one's package look like if the EFC is $0. Merit-based scholarships are highly doubtful.




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