FAFSA Forum

[eliekedourie]

How are people filling this out if they have not yet received their W-4 or filed their 2010 income tax returns?

[dextermorgan]

How are people filling this out if they have not yet received their W-4 or filed their 2010 income tax returns?

Salary. 2009 information.

[DamnLSAT]

How are people filling this out if they have not yet received their W-4 or filed their 2010 income tax returns?

Salary. 2009 information.

Yes. Once you compete your 2010 tax return, then go in and adjust the income/tax number

[mala2]

wait until you do

[dextermorgan]

wait until you do

No, don't do this.

[jmc8y]

How are people filling this out if they have not yet received their W-4 or filed their 2010 income tax returns?

Salary. 2009 information.

Yes. Once you compete your 2010 tax return, then go in and adjust the income/tax number

It's weird that nowhere in the instructions does it say it's okay to do this. But I guess I'll just go along with it.

[sanjola]

How are people filling this out if they have not yet received their W-4 or filed their 2010 income tax returns?

Salary. 2009 information.

Yes. Once you compete your 2010 tax return, then go in and adjust the income/tax number

I followed this exact thinking when I filed my FAFSA today. I'm glad I read this for reassurance. Thanks guys!

[chrisnashville]

I was wondering the same thing this weekend. I estimated using my 2009 salary information and taxes collected, and today they e-mailed me and said everything was good to go and to adjust the amounts once I have filed my taxes for 2010.

[sundance95]

wait until you do

No, don't do this.

Why not?

[sanjola]

wait until you do

No, don't do this.

Why not?

The longer you wait, the less amount of money will be available for scholarships. File the FAFSA by January 15 and then go back and make the adjustments once you file your taxes.

[gov]

You can choose the option "will file". Once you file, you can go adjust.

[txadv11]

The longer you wait, the less amount of money will be available for scholarships. File the FAFSA by January 15 and then go back and make the adjustments once you file your taxes.

I'm not sure I understand...someone please correct where I am wrong here....

My parents are not contributing and I have no substantial assets or money for school. Therefore I CAN:

Get a merit scholarship and then

Borrow up to 8,500 subsidized from fed
Another 20,500 unsubsidized (at like 7 percent)
and additionally from other grad loans at varying percents


How does FAFSA affect scholarships? I thought no grant-money is available for law students??? Upon my completion of my FAFSA my school(s) will grant me "need-based" money (usually only like 1K right?)

So I filled out and submitted my FAFSA today... what is the next step?

[bk1]

The longer you wait, the less amount of money will be available for scholarships. File the FAFSA by January 15 and then go back and make the adjustments once you file your taxes.

You realize that only 5 or so schools actually give out need based aid and that the rest give out only merit aid which does not depend on the FAFSA?

[AreJay711]

I am just using my pay stub.

[sanjola]

The longer you wait, the less amount of money will be available for scholarships. File the FAFSA by January 15 and then go back and make the adjustments once you file your taxes.

You realize that only 5 or so schools actually give out need based aid and that the rest give out only merit aid which does not depend on the FAFSA?

I wasn't aware that only 5 schools gave out need based aid. I know most schools base their scholarships on merit, but wasn't aware of the low need based aid numbers. I just assumed that "the sooner the better" approach was best for filing the FAFSA.

[bk1]

I wasn't aware that only 5 schools gave out need based aid. I know most schools base their scholarships on merit, but wasn't aware of the low need based aid numbers. I just assumed that "the sooner the better" approach was best for filing the FAFSA.

It's something like only HYS, Boalt, and NYU (could be wrong about the last two) that give out need based aid. Might as well fill it out in the next few months but there really is no super rush, but also no reason to wait a long time, as I believe at those schools the need based aid isn't usually that large.

[LegallyBlonde923]

So it's alright to use 2009 even though the box asks for "2010 income" as long as we adjust it later?
I'm waiting on a W2 from the restaurant I worked at this summer, but my reportable income there was only like $60.00 total anyway.

[oldhippie]

So it's alright to use 2009 even though the box asks for "2010 income" as long as we adjust it later?
I'm waiting on a W2 from the restaurant I worked at this summer, but my reportable income there was only like $60.00 total anyway.

i believe this is the way to do it. it's what i'm doing anyway!
and your avatar makes me want a bloody mary RIGHT NOW!!

[NZA]

I am just using my pay stub.

Me, too. Sadly, I ended employment with an employer in June, and don't have my last pay stub from them. :\ Alas.

My parents absolutely refused to give me their salary information the other night. I was like, "Seriously, I need to get this FAFSA completed ASAP." "No you don't!" "No, seriously, I do. Law schools give away $$$ early." "Well, you'll just have to wait for our W-2s." "Do you have a 1040 from last year?" "Yes." "I'll just use that to estimate your income this year." "No, you can't do that."

God damn it, sometimes having parents who are poor and don't understand money is frustrating as hell.

[AreJay711]

I am just using my pay stub.

Me, too. Sadly, I ended employment with an employer in June, and don't have my last pay stub from them. :\ Alas.

My parents absolutely refused to give me their salary information the other night. I was like, "Seriously, I need to get this FAFSA completed ASAP." "No you don't!" "No, seriously, I do. Law schools give away $$$ early." "Well, you'll just have to wait for our W-2s." "Do you have a 1040 from last year?" "Yes." "I'll just use that to estimate your income this year." "No, you can't do that."

God damn it, sometimes having parents who are poor and don't understand money is frustrating as hell.

I don't think you need it. You will be an independent student for FASFA purposes. At private schools there will probably be an institutional form that may require it but the FASFA is separate. For private schools, you might want to consider getting married or having a kid lol.

[NZA]

I am just using my pay stub.

Me, too. Sadly, I ended employment with an employer in June, and don't have my last pay stub from them. :\ Alas.

My parents absolutely refused to give me their salary information the other night. I was like, "Seriously, I need to get this FAFSA completed ASAP." "No you don't!" "No, seriously, I do. Law schools give away $$$ early." "Well, you'll just have to wait for our W-2s." "Do you have a 1040 from last year?" "Yes." "I'll just use that to estimate your income this year." "No, you can't do that."

God damn it, sometimes having parents who are poor and don't understand money is frustrating as hell.

I don't think you need it. You will be an independent student for FASFA purposes. At private schools there will probably be an institutional form that may require it but the FASFA is separate. For private schools, you might want to consider getting married or having a kid lol.

Alas, Boalt requires parents' incomes on the FAFSA, which means I have to include it for all my schools. Well, I guess theoretically I could file one with no parental income, then wait until the FAFSAs were submitted, then go back and do the ones that require parental income when I have it?

Meh, I'll probably just search through my parents' paperwork to find the info I need.

[krad]

Woo, submitted my FAFSA today with 2009 W-2 info.

What did everyone choose for the 10 schools, your top 10? Some of mine are big reaches (optimistic ha), so I'm assuming I can go in and change those after I find out some admissions decisions...?

[Anonymous Loser]

How are people filling this out if they have not yet received their W-4 or filed their 2010 income tax returns?

Salary. 2009 information.

Yes. Once you compete your 2010 tax return, then go in and adjust the income/tax number

It's weird that nowhere in the instructions does it say it's okay to do this. But I guess I'll just go along with it.

The FAQ's are explicit: estimating income and making corrections later is acceptable.

10. I haven't finished my taxes yet. What should I do?

If you are facing a deadline and want to get the application in as soon as possible, you may estimate your tax amounts for now. Once you have completed your tax forms, make the corrections to your file either on the Web or by mailing in your paper SAR.

[LegallyBlonde923]

So it's alright to use 2009 even though the box asks for "2010 income" as long as we adjust it later?
I'm waiting on a W2 from the restaurant I worked at this summer, but my reportable income there was only like $60.00 total anyway.

i believe this is the way to do it. it's what i'm doing anyway!
and your avatar makes me want a bloody mary RIGHT NOW!!

lol I changed my avatar on new year's day when I was mind-blowingly hungover and made myself a delicious bloody mary... they are one of my faves!

[Skyhook]

Got confirmation my FAFSA has been processed.
I've applied to over 10 schools, so I need to change some in the list.
I assume its now safe to go in and do that?
Guessing it doesn't matter which schools I swap out?

Boalt requires parental income? What happens if I don't include it?


FYI, I said "will file" and used my last paystub to estimate it.
The email today says I have to confirm the accuracy of my info after I finally file.