why? asked:


no other income in 2007
just received student financial aid
do i need to file?

queen_bee0042 asked:


My parents haven’t filed tax returns for 2006 yet, but I have to fill out the FAFSA now. Should I just put in the amounts from 2005 or guess? And will I have to renew my FAFSA with the approximate amounts after I file tax returns? Thanks

gabrielledark asked:


I did my fafsa and I used my mother information but I put that I wasnt going to file but I had to go make the correction saying I was going to file. How do I go about filling my information out when I do file my taxes?

I only made 2,387 will that change the amount of money I will be receiving my EFC is 834 based on my mother’s information.

Elephant Droppings asked:


I efiled the FAFSA application (The application for federal student financial aid). I intended to have the information sent to one school- but since the application, have decided on a different grad school.. To have the results of my FAFSA sent to a different college , do I need to reapply for FAFSA from scratch?

javasoundslounge asked:


Is having bad credit deter someone from getting financial aid or a student loan for school?

sweetnbitter87 asked:


How do I cancel my financial aid and student loan if I want to switch schools and start school at a later day? Also will I still be responsible for any payments?

Gray Rollins asked:


The Free Application for Federal Student Aid (FAFSA) is used in determining eligibility for all federal grants, loans, work study programs, and other methods of financial aid. You can find and download the application online at http://www.fafsa.ed.gov. You can also get a copy of the application from the financial aid office of the university or college you are hoping to attend, or your high school guidance counselor’s office. It is recommended that you apply online as any problems or inconsistencies should be noticed and (hopefully) resolved immediately, rather than waiting for days and sometimes weeks for the problems to be handled through regular mail services.

You will need to fill out a second application in order to apply for a student loan. That application is generally available through the financial aid office of the university the student will be attending. There are two types of student loans, subsidized and unsubsidized. A subsidized student loan is based on financial need. An unsubsidized student loan is not need based and interest begins to accrue immediately.

Once you’ve been awarded a federal loan, you must attend an entrance counseling session that lasts about 30 minutes. Session includes information on budgeting for repayment and the borrower’s responsibility to repay the loan. This is required and the money will not be credited to your student account until you have completed the entrance counseling.

You must also complete exit counseling before graduating or leaving school. The exit interview is meant to remind you of your obligation to repay the loan in addition to setting up your repayment schedule, along with the proper way to obtain a deferment should that become necessary.

Important things to keep in mind:

1) Most schools have priority deadlines for applying and receiving the maximum possible award. Make sure that you have all papers filed and in order prior to the deadline for application.

2) Applying online is the preferred method for applications because any mistakes should show up immediately. When you apply online you have access to various tools, such as spell check, and other online resources.

3) File your taxes early in order to complete your application early. The earlier you complete all of the necessary paperwork the better your options of getting the maximum award available to you.

4) Respond to all requests for further information immediately. Failure to do so will prevent the school from moving forward in the process of awarding financial aid.

5) Keep copies of every piece of correspondence and every necessary record.

6) Make sure that all paperwork is not only filled out accurately, but completely as well. Incomplete applications cause unnecessary delays.

The university is also a great resource for information and guidance in the application process. Make an appointment with a financial aid counselor at the university or college. Be sure to bring all relative paperwork (financial documents, tax returns, etc.) to the interview with you. If you’re still in high school, your guidance counselor can also help you with the necessary paperwork. Take your time filling out the application and make sure you attach all of the requested material.

sniper88gt asked:


how long does it take to get ur student aid report after u do ur fafsa?

Patrick M asked:


I am seeking financial aid to obtain my degree. I have several years that I didn’t file taxes and owe around 10,000 to the IRS. My question is if I make arrangements to make payments, will they take my financial aid?

Daydreamer asked:


I went from taking 12 hours a semester to 18. Will that increase my student aid?