Need Access Form/Application Question Forum

[charlieww]

Hi,

I just noticed we can start fill out the Need Access forms required for FA application in most schools. But it seems that I'll need this year's tax return to be able to find the information needed in an early stage of the application, without which I can't proceed.

Honestly as a KJD I don't really have much annual income since I'm in college and all I have for the tax return is a few grands earned from campus jobs. But in past years my schools HR office didn't send us W2 and other relevant forms until late March. That seems awful late especially since I want to start with the application ASAP.

Any advice on how I should approach/navigate the Need Access pages to fill out my application sooner?

[lymenheimer]

Hi,

I just noticed we can start fill out the Need Access forms required for FA application in most schools. But it seems that I'll need this year's tax return to be able to find the information needed in an early stage of the application, without which I can't proceed.

Honestly as a KJD I don't really have much annual income since I'm in college and all I have for the tax return is a few grands earned from campus jobs. But in past years my schools HR office didn't send us W2 and other relevant forms until late March. That seems awful late especially since I want to start with the application ASAP.

Any advice on how I should approach/navigate the Need Access pages to fill out my application sooner?

Does your uni have a web access portal that you can access your payroll info? They might post your w2 before they mail it. If not, you may be able to do some math from your pay stubs. Also, im pretty sure you can fill it out now and amend it later (like with the fafsa). Might wanna double check on the latter, but I think I read that.

Also, thanks for reminding me!

[cdavis1024]

Hijacking this for a similar question:

My parents are self-employed and never have their taxes done until early May (they always get an extension where necessary), but I can't wait to get financial aid offers until then. If I end up starting the summer term at UMich, I'll be STARTING my semester by the time my parents are able to give me solid tax information.

What should I do?

[lymenheimer]

Hijacking this for a similar question:

My parents are self-employed and never have their taxes done until early May (they always get an extension where necessary), but I can't wait to get financial aid offers until then. If I end up starting the summer term at UMich, I'll be STARTING my semester by the time my parents are able to give me solid tax information.

What should I do?

Also, im pretty sure you can fill it out now and amend it later (like with the fafsa). Might wanna double check on the latter, but I think I read that.

[cdavis1024]

Hijacking this for a similar question:

My parents are self-employed and never have their taxes done until early May (they always get an extension where necessary), but I can't wait to get financial aid offers until then. If I end up starting the summer term at UMich, I'll be STARTING my semester by the time my parents are able to give me solid tax information.

What should I do?

Also, im pretty sure you can fill it out now and amend it later (like with the fafsa). Might wanna double check on the latter, but I think I read that.

Right, we did that in undergrad and were then selected for "verification", which takes over 8 weeks to process once you've FINISHED your tax return. They withhold all federal funds until you've verified, which would put me not getting any loans at all until September-ish, which is just simply not an option :/

According to what I've been reading, 1/3 of FAFSA applicants are selected for verification, and my parents are at particularly high risk for it because my father is an independent contractor.

[lymenheimer]

I see. Well that is unfortunate. Have you talked to Michigan about this yet? Unfortunately I don't know of any way to make the federal government align to your educational goals. The only thing I can think of is attempting to get into a fall starting program (retake for umich fall start if you need to) or to apply for private loans. Maybe someone else would have had experience with this.

[Scalvert]

It really bugs me that they ask for your parents' info. I'm doing an unpaid internship for Legal Aid this semester, so my income is currently $0. Yet, on the form I have to include the value of my parents' savings and the small business they own. I'm assuming I will be denied need-based aid because they expect my parents to deplete their savings and mortgage their business? I don't understand why that information could possibly have any impact on my needing $$$. Just wanted to bitch. Carry on.

[texasellewoods]

It really bugs me that they ask for your parents' info. I'm doing an unpaid internship for Legal Aid this semester, so my income is currently $0. Yet, on the form I have to include the value of my parents' savings and the small business they own. I'm assuming I will be denied need-based aid because they expect my parents to deplete their savings and mortgage their business? I don't understand why that information could possibly have any impact on my needing $$$. Just wanted to bitch. Carry on.

I'm in the same position - my income is nothing but my parents own their own business. Do you have any idea what the income/assets/net worth cutoff is for getting need?

[lymenheimer]

I'm in the same position - my income is nothing but my parents own their own business. Do you have any idea what the income/assets/net worth cutoff is for getting need?

Depends on the school, if they have a cut-off

[texasellewoods]

I'm in the same position - my income is nothing but my parents own their own business. Do you have any idea what the income/assets/net worth cutoff is for getting need?

Depends on the school, if they have a cut-off

Is there not kind of a universal cut off? like if your parents make 2 million I'm sure schools are going to laugh at your application

[lymenheimer]

I'm in the same position - my income is nothing but my parents own their own business. Do you have any idea what the income/assets/net worth cutoff is for getting need?

Depends on the school, if they have a cut-off

Is there not kind of a universal cut off? like if your parents make 2 million I'm sure schools are going to laugh at your application

Sure, if your parents are helping you. But if you're planning on paying on your own...I also don't think anybody would actually know that number, though.

[Scalvert]

I'm in the same position - my income is nothing but my parents own their own business. Do you have any idea what the income/assets/net worth cutoff is for getting need?

Depends on the school, if they have a cut-off

Is there not kind of a universal cut off? like if your parents make 2 million I'm sure schools are going to laugh at your application

Sure, if your parents are helping you. But if you're planning on paying on your own...I also don't think anybody would actually know that number, though.

They ask on the form for the amount of assistance you've received from your parents in the past. Mine are paying my rent/gas/food while I'm doing this internship. I'm guessing Need Access will assume that they're able to do this indefinitely.
I guess I should figure on getting nothing.

[lymenheimer]

They ask on the form for the amount of assistance you've received from your parents in the past. Mine are paying my rent/gas/food while I'm doing this internship. I'm guessing Need Access will assume that they're able to do this indefinitely.
I guess I should figure on getting nothing.

Maybe I'm not understanding how NeedAccess works, but I thought it just compiled the information to send to the schools. Then the schools decide what to do...? Also (I don't remember), isn't there an "expected parental assistance" figure?

[Scalvert]

They ask on the form for the amount of assistance you've received from your parents in the past. Mine are paying my rent/gas/food while I'm doing this internship. I'm guessing Need Access will assume that they're able to do this indefinitely.
I guess I should figure on getting nothing.

Maybe I'm not understanding how NeedAccess works, but I thought it just compiled the information to send to the schools. Then the schools decide what to do...? Also (I don't remember), isn't there an "expected parental assistance" figure?

Yes, but I'm just assuming (pessimistically) that the reason they're asking for your parents' info is so they can find a reason to deny. I just entered an amount that I figured my parent's could reasonably afford. I would like for that number to be 0$, but given the fact that I won't be working (or working very very little) next year (and the fact that they helped me during UG) I doubt $0 would be believable. I know I sound whiny because there are so many more people whose parents can't afford to help them at all, but just because my parents are able to help me to some degree, doesn't mean that I want them to. I just feel that the information they seem to want will be used by the school in a way that will make it necessary to accept more parental help or take out bigger loans. I guess I'll just submit it and see what happens.