I want to support him going to college and his parents One of the first questions it asks is to get your consent to pull your income information directly from the IRS. How do you answer FAFSA question about income tax when parent did not file taxes? Parent has a Form 1099 but FAFSA asks "Enter the amount of your parent's income tax for 2020". There is no missing OR conflicting information, and if there is FAFSA is removing it themselves because we fill out the form perfectly. In . So a kid who has middle class parents who aren't paying for college gets zero financial aid. The FAFSA will only use your income information. He told me after submitting the FAFSA application and receiving student aid that his annual expense is around $15k/year. The new FAFSA is not user friendly, takes to long to process, and no one actually knows if it was submitted correctly. We were confused because it said no contributor/parent income was So, I am helping my parents fill out the Financial portion of the FAFSA, and these questions came up. Here are five common myths filers should know about parent information on the FAFSA. I've tried finding it but Yes, as a 24 year old you are considered independent and don't need your parent's income, but thats only to substitute with your own income. My mom has been getting SSI (my lil sister’s disability), Medicaid, and near the end of 2023 (November) she qualified for an EBT I was doing my parent’s section of the FAFSA and I only two financial questions which were about scholarships and foreign income and that’s it. Myth 1: My Parents’ Income Is Too High. I'm wondering if that will prevent getting any sort of financial aid. I'm getting So this is a new question on the Fafsa my mom encountered. I’m 30 and am financially independent, so at this point I don’t think including their information would really benefit me in Parents aren't necessarily going to actually pay for the child's college expenses. I received about 7k in child support and have another 42k in untaxed income (VA Disability Compensation). I’ve filled out my entire FAFSA form except for my parents income info. Parent For the new FAFSA, it’s asking “Has the parent you identified in the previous question remarried?” Should I answer yes or no, because she has remarried but she was single income for the So my parents filed a 1040 and to find their income tax FAFSA says that it is "Form 1040-line13 minus Schedule 2-line 46". Is this normal? Is there a law that says parents are obligated to pay for their kids’ higher education? If not, then why is parents’ income a factor in financial aid eligibility? Some parents who have high income The best thing to do is explain that your absent parent will not contribute financially to your education when you fill out the financial aid applications (for the schools; FAFSA doesn’t allow Back to FAFSA® Guide 2024-25Here’s how to correctly answer 2024-25 FAFSA® parent tax questions, provide consent for IRS Figured folks on here might have some advice. I contacted FAFSA and they said only answer questions asked and submit. He told me after submitting the FAFSA application and receiving student aid that for the question where you input your parent’s “income earned from work,” is that referring to the gross income or gross adjusted income? i can’t find anything that clears it up. Parents make decent money and have a decent net worth. Does everyone have this to fill out? I ask Here's how to correctly enter the parent's tax questions and how to provide consent for transfer of information from the IRS. Since it does this, you do not need to manually input any info unless you have a FAFSA is taking into account the fact your parents could pay but don't want to, because basically otherwise every rich family could refuse to help their kid and get the government to step in on For financial aid purposes being an independent means parent information is not included on the FAFSA. I didn’t have any questions on savings or assets. If you’re considered a dependent student for the purposes of the Free Application for Federal Student Aid (FAFSA®) form, you’ll need to report information about your parents on the form. For US Federal Student Aid, you must provide both of your parents' incomes unless you can get an override (extremely rare) or can be considered independent. Is there an amount His parents are low income and he completed his FAFSA using all of their information. How would we calculate who is required to pay and who isn’t? Here are five common myths filers should know about parent information on the FAFSA. First of all, it’s impossible to set one income number as a point where all parents are able to pay for their child’s college. I am not an officer of either. That income information will rely heavily on your Just like the title says, I was with my parent when they were filling out their portion of the Fafsa and it did not ask for their tax information or income.
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