Family member loans and 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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daesonesb
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Joined: Thu Oct 15, 2009 2:18 pm

Family member loans and FAFSA

Postby daesonesb » Wed Feb 23, 2011 5:20 pm

Do these belong in the "other income" section? They say to put in $ figures there, which represent what a family member other than your parent "gives to you."

Where money from family members is exclusively in loan form, do people think it's required?

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Eugenie Danglars
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Joined: Wed Jul 07, 2010 12:04 pm

Re: Family member loans and FAFSA

Postby Eugenie Danglars » Sat Feb 26, 2011 4:17 am

daesonesb wrote:Do these belong in the "other income" section? They say to put in $ figures there, which represent what a family member other than your parent "gives to you."

Where money from family members is exclusively in loan form, do people think it's required?


I would put it there then explain carefully in the notes section. FAFSA's goal is to figure out how much unmet need you have for law school compared to your resources, and family loans are resources.

Plus, if you don't list it and then get audited, you've got problems.




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