Resume and Financial Aid Discrepancies?

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amadeusdeus
Posts: 5
Joined: Mon Jan 24, 2011 5:01 am

Resume and Financial Aid Discrepancies?

Postby amadeusdeus » Mon Jan 24, 2011 5:18 am

I'm likely just being paranoid, but I'm curious if anyone knows if admissions offices reviews financial aid information after being admitted, such as the FAFSA. I ask because I run a business, and I noted this on my resume and applications, but due to a bad year my business was just barely profitable, and I don't have to file taxes. I most certainly worked the hours I indicated, I'm just worried that because I'm indicating on the FAFSA that I'm not filing taxes that this might raise a red flag with the financial aid/admissions office. The business looks like it's turning around for 2011 so I will be indicating it as a source of income up until law school, and will likely file taxes in 2011, and I filed in previous years.

I guess I'm just worried that the low profitability of my business despite the hours worked might reflect poorly on me, but I've already been admitted, so is there anything to genuinely worry about or am I just being paranoid? Would law schools rescind an admission for something like this, or does that only happen when there's a clear and obvious lie regarding transcripts or character and fitness? Thanks!

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Eugenie Danglars
Posts: 2353
Joined: Wed Jul 07, 2010 12:04 pm

Re: Resume and Financial Aid Discrepancies?

Postby Eugenie Danglars » Mon Jan 24, 2011 5:56 am

amadeusdeus wrote:I'm likely just being paranoid, but I'm curious if anyone knows if admissions offices reviews financial aid information after being admitted, such as the FAFSA. I ask because I run a business, and I noted this on my resume and applications, but due to a bad year my business was just barely profitable, and I don't have to file taxes. I most certainly worked the hours I indicated, I'm just worried that because I'm indicating on the FAFSA that I'm not filing taxes that this might raise a red flag with the financial aid/admissions office. The business looks like it's turning around for 2011 so I will be indicating it as a source of income up until law school, and will likely file taxes in 2011, and I filed in previous years.

I guess I'm just worried that the low profitability of my business despite the hours worked might reflect poorly on me, but I've already been admitted, so is there anything to genuinely worry about or am I just being paranoid? Would law schools rescind an admission for something like this, or does that only happen when there's a clear and obvious lie regarding transcripts or character and fitness? Thanks!


You're being paranoid. You've done nothing wrong as long as you are in no way legally required to file taxes. Check the school's fin aid website; many require people not filing taxes to submit a non-filers statement in which you would explain this very issue.

amadeusdeus
Posts: 5
Joined: Mon Jan 24, 2011 5:01 am

Re: Resume and Financial Aid Discrepancies?

Postby amadeusdeus » Mon Jan 24, 2011 6:08 am

Eugenie Danglars wrote:
amadeusdeus wrote:I'm likely just being paranoid, but I'm curious if anyone knows if admissions offices reviews financial aid information after being admitted, such as the FAFSA. I ask because I run a business, and I noted this on my resume and applications, but due to a bad year my business was just barely profitable, and I don't have to file taxes. I most certainly worked the hours I indicated, I'm just worried that because I'm indicating on the FAFSA that I'm not filing taxes that this might raise a red flag with the financial aid/admissions office. The business looks like it's turning around for 2011 so I will be indicating it as a source of income up until law school, and will likely file taxes in 2011, and I filed in previous years.

I guess I'm just worried that the low profitability of my business despite the hours worked might reflect poorly on me, but I've already been admitted, so is there anything to genuinely worry about or am I just being paranoid? Would law schools rescind an admission for something like this, or does that only happen when there's a clear and obvious lie regarding transcripts or character and fitness? Thanks!


You're being paranoid. You've done nothing wrong as long as you are in no way legally required to file taxes. Check the school's fin aid website; many require people not filing taxes to submit a non-filers statement in which you would explain this very issue.


The few schools I checked do not have their financial aid forms available yet, so I haven't been able to see that such a form is usually necessary. I guess I'm still worried that the low profits this year might have them claim I misrepresented myself on my resume, but I definitely didn't claim anything that isn't true, even given this bad economic year. Thanks for the answer!

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Eugenie Danglars
Posts: 2353
Joined: Wed Jul 07, 2010 12:04 pm

Re: Resume and Financial Aid Discrepancies?

Postby Eugenie Danglars » Mon Jan 24, 2011 6:14 am

amadeusdeus wrote:
Eugenie Danglars wrote:
amadeusdeus wrote:I'm likely just being paranoid, but I'm curious if anyone knows if admissions offices reviews financial aid information after being admitted, such as the FAFSA. I ask because I run a business, and I noted this on my resume and applications, but due to a bad year my business was just barely profitable, and I don't have to file taxes. I most certainly worked the hours I indicated, I'm just worried that because I'm indicating on the FAFSA that I'm not filing taxes that this might raise a red flag with the financial aid/admissions office. The business looks like it's turning around for 2011 so I will be indicating it as a source of income up until law school, and will likely file taxes in 2011, and I filed in previous years.

I guess I'm just worried that the low profitability of my business despite the hours worked might reflect poorly on me, but I've already been admitted, so is there anything to genuinely worry about or am I just being paranoid? Would law schools rescind an admission for something like this, or does that only happen when there's a clear and obvious lie regarding transcripts or character and fitness? Thanks!


You're being paranoid. You've done nothing wrong as long as you are in no way legally required to file taxes. Check the school's fin aid website; many require people not filing taxes to submit a non-filers statement in which you would explain this very issue.


The few schools I checked do not have their financial aid forms available yet, so I haven't been able to see that such a form is usually necessary. I guess I'm still worried that the low profits this year might have them claim I misrepresented myself on my resume, but I definitely didn't claim anything that isn't true, even given this bad economic year. Thanks for the answer!


No problem. If you actually worked at something, you're definitely allowed to put it on your resume, even if it went badly. Otherwise, all the ex-Lehman Bros. employees would have resume holes :-)




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