FAFSA Questions
Posted: Sun Jan 30, 2011 9:21 pm
I have a couple of questions about the FAFSA. I'm sorry if these are repeats, the search function has been a fail at finding threads that actually answer my questions. I've never filed a FAFSA before since I'm on full scholarship for undergrad, so sorry if these are stupid questions.
My parents are divorced. My father is unmarried and makes a modest salary, not low enough to qualify me for need-based grants but likely low enough that I could still receive at least some in subsidized loans. My mother has no income (she doesn't have a job). My stepfather owns his own business, makes a substantial amount of money, and has a number of assets (including rental properties and a boat).
I'm just now checking with individual financial aid offices to verify this by email, but I'm assuming that for at least some of my schools I will have to include parental information on my FAFSA. On the Parent Information section, this is what the little "help" bubble on the left says:
"If your parents are now married (even if they were not married in 2010), answer this question about them as a couple. If they are not married, answer this question about the parent who is reporting financial information on this application."
Which parent is the one "reporting financial information"? Can it be either of them? Or does it have to be the one who claimed me as a dependent on their income taxes (my mother)?
Since my mother and stepfather filed jointly, does reporting my mother's financial information mean providing their combined income/assets? This would definitely exclude me from any subsidized loan money. Not that that would be horrible, since it's my understanding that I will somehow be able to get enough unsubsidized money to fund what I need, but I'd like to get it if at all possible.
Thanks so much in advance! Sorry again if this is a repeat or stupid question.
My parents are divorced. My father is unmarried and makes a modest salary, not low enough to qualify me for need-based grants but likely low enough that I could still receive at least some in subsidized loans. My mother has no income (she doesn't have a job). My stepfather owns his own business, makes a substantial amount of money, and has a number of assets (including rental properties and a boat).
I'm just now checking with individual financial aid offices to verify this by email, but I'm assuming that for at least some of my schools I will have to include parental information on my FAFSA. On the Parent Information section, this is what the little "help" bubble on the left says:
"If your parents are now married (even if they were not married in 2010), answer this question about them as a couple. If they are not married, answer this question about the parent who is reporting financial information on this application."
Which parent is the one "reporting financial information"? Can it be either of them? Or does it have to be the one who claimed me as a dependent on their income taxes (my mother)?
Since my mother and stepfather filed jointly, does reporting my mother's financial information mean providing their combined income/assets? This would definitely exclude me from any subsidized loan money. Not that that would be horrible, since it's my understanding that I will somehow be able to get enough unsubsidized money to fund what I need, but I'd like to get it if at all possible.
Thanks so much in advance! Sorry again if this is a repeat or stupid question.
