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FAFSA question

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sdnstud

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    I was told by Rush to submit my FAFSA as soon as possible (jan. 1) as FAFSA gives out money on a first come first serve basis.

    If you don't have an acceptance, put down schools that you have interviewed at and those that you'll likely going to get interviews from.



    saki0005 said:
    my taxes will soon be complete and i'm wondering if i should go ahead and do the FAFSA even though i have no acceptances anywhere.

    anyone know the answer???
     

    ravi

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      Even though I posted this question in financial aid forum, I thought I would get a quicker response her. So my question is..


      I finished doing my fafsa, it said my family(me and my spouse) can contribute around 40K :eek: :eek: . How is it going to affect my financial aid package? Honestly, there is no way my family can afford that kinda money.

      Thanks in advance.
       

      Benign_foodtube

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        I'm trying to get my FAFSA stuff done as soon as I possibly can, but my workplace is dragging its feet getting me my W2 stuff, and I don't know how soon I can file my 1040. Dumb question, but... these things have to be done BEFORE I can possibly fill out the FAFSA, right? I mean, I can't just take my pay stubs and crank the numbers into a solid estimate for it, can I?

        And, provided I can get my W2's soon, what's the quickest way to get my 1040 done if I have investments and funds and accounts that are complex and even above my head, stated by my folks when I was little? I mean, they're freakin piddly accounts, but they're giving me a massive headache for the FAFSA stuff. Should I just go to an H&R Block type place? What's their turn-around time, anyway?

        Please hep me! hep me!
         

        ravi

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          Benign_foodtube said:
          I'm trying to get my FAFSA stuff done as soon as I possibly can, but my workplace is dragging its feet getting me my W2 stuff, and I don't know how soon I can file my 1040. Dumb question, but... these things have to be done BEFORE I can possibly fill out the FAFSA, right? I mean, I can't just take my pay stubs and crank the numbers into a solid estimate for it, can I?

          And, provided I can get my W2's soon, what's the quickest way to get my 1040 done if I have investments and funds and accounts that are complex and even above my head, stated by my folks when I was little? I mean, they're freakin piddly accounts, but they're giving me a massive headache for the FAFSA stuff. Should I just go to an H&R Block type place? What's their turn-around time, anyway?

          Please hep me! hep me!

          You don't need W2s for submitting the fafsa. you just put in the estimatied income now and when you get your W2s you can adjust it.
           

          flash

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            ravi said:
            Even though I posted this question in financial aid forum, I thought I would get a quicker response her. So my question is..


            I finished doing my fafsa, it said my family(me and my spouse) can contribute around 40K :eek: :eek: . How is it going to affect my financial aid package? Honestly, there is no way my family can afford that kinda money.

            Thanks in advance.


            I think the fact that it's YOU and your spouse (as opposed to parents), you are "screwed" unless u get very creative with assets. I don't know what u can do with income. Sorry.
             

            Soup

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              ravi said:
              Even though I posted this question in financial aid forum, I thought I would get a quicker response her. So my question is..


              I finished doing my fafsa, it said my family(me and my spouse) can contribute around 40K :eek: :eek: . How is it going to affect my financial aid package? Honestly, there is no way my family can afford that kinda money.

              Thanks in advance.
              It doesn't mean that you will actually need to contribute 40K. It means that all of your stafford loans will probably have to be unsubs (I spent my morning yesterday going over this very thing with Fin. Aid)
               

              ravi

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                flash said:
                I think the fact that it's YOU and your spouse (as opposed to parents), you are "screwed" unless u get very creative with assets. I don't know what u can do with income. Sorry.

                Hey flash, I talked to the financial aid people and they said the same ting Sopu said. I will not get subsidized loans but I will get total amount as unsubsidized loans :) .
                 

                ShyRem

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                  Benign_foodtube said:
                  I'm trying to get my FAFSA stuff done as soon as I possibly can, but my workplace is dragging its feet getting me my W2 stuff, and I don't know how soon I can file my 1040. Dumb question, but... these things have to be done BEFORE I can possibly fill out the FAFSA, right? I mean, I can't just take my pay stubs and crank the numbers into a solid estimate for it, can I?

                  And, provided I can get my W2's soon, what's the quickest way to get my 1040 done if I have investments and funds and accounts that are complex and even above my head, stated by my folks when I was little? I mean, they're freakin piddly accounts, but they're giving me a massive headache for the FAFSA stuff. Should I just go to an H&R Block type place? What's their turn-around time, anyway?

                  Please hep me! hep me!

                  Have you looked into tax software you can purchase? TaxCut is particularly simple to use, and the premium edition is like $20 at WalMart. TurboTax, while more well-known, I found to be not as user-friendly. I know many tax professionals use TurboTax and TaxCut for all kinds of tax situations (I used to work for an accountant and helped prepare foreign client investment taxes). And, even better, you can do e-file and get a refund in like 2 weeks! Make sure you have a copy of your last year's return - it should have everything you need to get started. Good luck.
                   
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