FAFSA Question

[temp0]

If I submit the FAFSA with just my financial information (and not my parents), I will still be able to receive federal loans, correct? I just won't have access to institutional loans on a school-specific level?

For various reasons, my parents are hesitant to include their financial information, but I'd still like to submit the FAFSA as soon as possible if it'll help get the financial aid award sooner.

Also, is it a problem if normally my parents (and myself) usually file our taxes in September/October?

Thanks for the help!

---

Members don't see this ad.

 

[Ismet]

You do not need parent information in order to receive federal loans, but most schools will not consider you for need-based funding unless you include parent info.

If you don't file until later, select "will file" when filling out your financial information, and use last year's data or a good estimate. You'll need to update FAFSA whenever you file your taxes.

 

[sazerac]

Get your parents' financial information. It's not about "institutional loans", it's about free money from the school. You would be a fool to pass that up.

Tell your parents there might be $50,000 or more riding on them filling out and signing the damn form.

 

[darkjedi]

Institutional loans/scholarships are a completely separate application than the FAFSA. FAFSA is only for government/federal aid, like the Stafford and GradPLUS loans.

 

[Ismet]

Institutional loans/scholarships are a completely separate application than the FAFSA. FAFSA is only for government/federal aid, like the Stafford and GradPLUS loans.

Schools use the information provided on FAFSA to determine need for institutional scholarships.

 

[Elewynne]

Institutional loans/scholarships are a completely separate application than the FAFSA. FAFSA is only for government/federal aid, like the Stafford and GradPLUS loans.

At least two of the schools I've been accepted to don't have their own forms, like Ismet said, they just rely on the FAFSA...

 

[darkjedi]

Schools use the information provided on FAFSA to determine need for institutional scholarships.

At least two of the schools I've been accepted to don't have their own forms, like Ismet said, they just rely on the FAFSA...

yup, i was mistaken, it seems that it does very quite a bit from school to school

 

[aspiring20]

if you have never paid taxes, do you still qualify to receive FAFSA federal aid?

 

[darkjedi]

if you have never paid taxes, do you still qualify to receive FAFSA federal aid?

yes, you would just not declare income/taxes on the forms

 

[aspiring20]

yes, you would just not declare income/taxes on the forms

sweet. thanks bro

 

[psswrd]

.

 

[chenzt]

Another question: Should I complete FAFSA now using 2012 and update once my parents and I have our W-2 and file for 2013, or wait until we file for 2013? Is there any advantage for maybe 1 month of head start?

 

[sazerac]

If I could add a question here - when should I expect to hear from schools regarding the financial aid package if I have already submitted my FAFSA?

For the federal stuff, it doesn't matter. You are basically guaranteed loans up to the school's published COA.

For the school-specific free money, that can show up unexpectedly all the way up to the day before orientation (i.e. long after you have already committed to the school). Kind of makes it hard to compare schools based on cost, but whatever, that's how the game works.

 

[Ismet]

If I could add a question here - when should I expect to hear from schools regarding the financial aid package if I have already submitted my FAFSA?

April-May, at least in my experience. YMMV.

 

[Ismet]

Another question: Should I complete FAFSA now using 2012 and update once my parents and I have our W-2 and file for 2013, or wait until we file for 2013? Is there any advantage for maybe 1 month of head start?

You can do either, but there's really no advantage to doing it now vs. doing it in a month.

 

[Neurodelic]

I didn't include my parent's information, but they make a lot of money (none of which I will be receiving for medical school expenses). Will this negatively impact me?

 

[psswrd]

.

 

[Ismet]

I didn't include my parent's information, but they make a lot of money (none of which I will be receiving for medical school expenses). Will this negatively impact me?

What do you mean?

If you don't include your parent's information, you're still eligible for federal loans up to your school's COA. However, you are not eligible for need-based funding at most schools if you do not include parent information. It might end up that your parents make "too much" for you to get need-based aid anyway, but if you don't fill out their information, you'll never know. It doesn't hurt to include your parent's info, and you may be surprised and get a little money out of it. There's zero benefit to excluding your parent's info.

 

[Neurodelic]

What do you mean?

If you don't include your parent's information, you're still eligible for federal loans up to your school's COA. However, you are not eligible for need-based funding at most schools if you do not include parent information. It might end up that your parents make "too much" for you to get need-based aid anyway, but if you don't fill out their information, you'll never know. It doesn't hurt to include your parent's info, and you may be surprised and get a little money out of it. There's zero benefit to excluding your parent's info.

Oh ok. I've already submitted my FAFSA, so I guess that ship has sailed. Thanks for the info though.

 

[darkjedi]

Oh ok. I've already submitted my FAFSA, so I guess that ship has sailed. Thanks for the info though.

You can still make additions to the FAFSA after you submit

 

[CarlosDanger]

I think its just best to call each school and ask whether they want parents info or not - although if you're listing something like 10+ schools that could get old fast.

I just needed to call 3, and they all told me not to worry about parental info, that it wouldn't effect any scholarships I might get from them. If for some reason I need to add that later, I will.

 

[AquiVoy13]

I think its just best to call each school and ask whether they want parents info or not - although if you're listing something like 10+ schools that could get old fast.

I just needed to call 3, and they all told me not to worry about parental info, that it wouldn't effect any scholarships I might get from them. If for some reason I need to add that later, I will.

That's interesting. Most of my schools require that I submit parental info.

 

[CarlosDanger]

That's interesting. Most of my schools require that I submit parental info.

I know, its weird I guess. Maybe it has to do with the fact that I qualify as independent? Who knows

 

[AquiVoy13]

I know, its weird I guess. Maybe it has to do with the fact that I qualify as independent? Who knows

yep, that's it haha.

 

[terp720]

I know, its weird I guess. Maybe it has to do with the fact that I qualify as independent? Who knows

Pretty sure by definition of a grad student we are considered independent, which is why parental information isn't required for graduate programs.
Just school dependent as to whether they want your parental info in order to determine institution aid (in my case, for example, 2/3 of the schools I have gotten into require parents' info as well).

 

[Ismet]

I know, its weird I guess. Maybe it has to do with the fact that I qualify as independent? Who knows

All graduate students qualify as independents. Even the people in my class who are in their 30s had to submit parent information.

 

[CarlosDanger]

All graduate students qualify as independents. Even the people in my class who are in their 30s had to submit parent information.

I figured, but most traditional applicants would probably have to check the box on their FAFSA (at least the first year) that they are dependent on their parents for support, in which case FAFSA would require them to input parental info. Since I'm not, it gave me the option but I opted not to since the schools I was accepted to said not to worry about it. I'm aware that a lot of schools require it to be considered for scholarships though.

 

[Ismet]

I figured, but most traditional applicants would probably have to check the box on their FAFSA (at least the first year) that they are dependent on their parents for support, in which case FAFSA would require them to input parental info. Since I'm not, it gave me the option but I opted not to since the schools I was accepted to said not to worry about it. I'm aware that a lot of schools require it to be considered for scholarships though.

Nope, I was a traditional applicant when I was entering med school and I was still classified as an independent. No idea why your schools said not to do it, though.

 

[AquiVoy13]

Pretty sure by definition of a grad student we are considered independent, which is why parental information isn't required for graduate programs.
Just school dependent as to whether they want your parental info in order to determine institution aid (in my case, for example, 2/3 of the schools I have gotten into require parents' info as well).

Yeah, most of my schools classify me as a dependent and require parental info if I want to be eligible for institutional aid.