Declaring parental income

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atlantahoo
Posts: 84
Joined: Tue Sep 13, 2016 3:58 pm

Declaring parental income

Postby atlantahoo » Tue Oct 18, 2016 3:40 pm

Hey everyone,


So far I've been admitted to 2 schools, and they seem to have different policies re. parental information on the FAFSA. I'm 24, so I'm technically no longer considered a dependent for FAFSA purposes, but several schools to which I'm applying have their own policies.

UVA's website says that you must disclose parental income if you're under 26 (which I am), but UGA doesn't have any instructions about this.

Has anyone been in a similar situation? Would appreciate any guidance about what to do!

js1663
Posts: 216
Joined: Tue May 27, 2014 2:13 pm

Re: Declaring parental income

Postby js1663 » Tue Oct 18, 2016 4:05 pm

Does it matter for either one? Will their grant/scholarship be need-based?

cavalier1138
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Joined: Fri Mar 25, 2016 8:01 pm

Re: Declaring parental income

Postby cavalier1138 » Tue Oct 18, 2016 4:11 pm

Just to clarify things for you: this has nothing to do with FAFSA. You are only required to submit your parental income info for Need Access, if I recall correctly.

I don't think 24 is old enough to get you out of submitting that info for Need Access. But it really won't matter much unless you expect to be eligible for need-based aid.

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MarkinKansasCity
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Re: Declaring parental income

Postby MarkinKansasCity » Tue Oct 18, 2016 4:11 pm

Call UGA and ask them.

Re: Does it matter - Not sure if it affects grants or loan interest rates for grad school (it might), but I am sure you don't want to be explaining shit to C&F in 3 years because you were too lazy to get the form right.

cavalier1138
Posts: 4667
Joined: Fri Mar 25, 2016 8:01 pm

Re: Declaring parental income

Postby cavalier1138 » Tue Oct 18, 2016 4:13 pm

MarkinKansasCity wrote:Call UGA and ask them.

Re: Does it matter - Not sure if it affects grants or loan interest rates for grad school (it might), but I am sure you don't want to be explaining shit to C&F in 3 years because you were too lazy to get the form right.


This would never be a C&F issue. If you don't provide parental info, the school will just not consider you for need-based aid, which they probably weren't going to do anyway. It would only be a C&F issue if the applicant lied about their age to avoid submitting the info or lied about income on the forms.

atlantahoo
Posts: 84
Joined: Tue Sep 13, 2016 3:58 pm

Re: Declaring parental income

Postby atlantahoo » Wed Oct 19, 2016 9:59 am

js1663 wrote:Does it matter for either one? Will their grant/scholarship be need-based?



I was hoping that if I used my own financial information, I'd receive some grant money (as I have a very low income). My parents are plenty well off, so if I include their financial info, I definitely won't get any need-based help.

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sweets91
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Joined: Mon Sep 05, 2016 1:22 am

Re: Declaring parental income

Postby sweets91 » Wed Oct 19, 2016 10:06 am

atlantahoo wrote:
js1663 wrote:Does it matter for either one? Will their grant/scholarship be need-based?



I was hoping that if I used my own financial information, I'd receive some grant money (as I have a very low income). My parents are plenty well off, so if I include their financial info, I definitely won't get any need-based help.


your parents aren't still claiming you as a dependent, are they? if so, then you definitely need to disclose

atlantahoo
Posts: 84
Joined: Tue Sep 13, 2016 3:58 pm

Re: Declaring parental income

Postby atlantahoo » Wed Oct 19, 2016 10:16 am

cavalier1138 wrote:Just to clarify things for you: this has nothing to do with FAFSA. You are only required to submit your parental income info for Need Access, if I recall correctly.

I don't think 24 is old enough to get you out of submitting that info for Need Access. But it really won't matter much unless you expect to be eligible for need-based aid.



Okay, that makes sense




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