FAFSA

Just a reminder for you girls that are applying for Federal Aid to get you FAFSA filled out. I was told the sooner you file it the better your chance for money.

 

Don't tax returns have to be complete prior to submission?

 

Yup

 

As of last year when we filed for our daughter.

You can not submit a fafsa form before January 1st. But, the sooner to that date the better chance of you receiving some form of financial aid then if you wait until say latter Feb. or the beginning of March and submitting your form.

No, income tax returns do not have to be complete before submitting a tax form as of LAST YEAR. Check for this year to see if there are any changes been inacted.

We submitted a fafsa form last year before our 2007 tax returns were done and you can do that. All is required is that you go ahead, submit the fafsa and state on the form that you are reporting a estimated "projected" x amount of adjusted gross income for the 2008 calendar year and that you at a later time will submit your accurate tax form.

You may say "Why do that when your not sure of what you made and thinking that you will have to re-do it." We'll matter of fact it is wiser to go ahead and get your application in than wait too long and only to find out that YOU DID QUIALIFY for some aid and not receive any because the funding has already been distributed out.

Reelturner

 

Tax returns do not have to be completed on the initial application but data must be corrected to match your returns when they are completed.

http://www.fafsa.ed.gov/

 

If a family has a household income of $50,000 will they qualify for aid under fafsa?
How about $100,000 combined income?
Is there some scale or graph that is posted that would help a family see if they qualify?

 

After completing the FASFA, you will get a preliminary EFC- Expected Family Contribution. This is used by the schools to rank you. I dont think there is a dollar amount that you can see, I believe it depends on the schools.

Check this link out for more info on scholarships.
https://studentaid2.ed.gov/getmoney/scholarship/scholarship_search_select.asp?13817/

Also, dont forget this site...
http://collegesearch.collegeboard.com/search/adv_typeofschool.jsp
for finding schools with what you need.

There are...
405 schools with D3 Softball programs(6 in NC, 0 in SC, 15 in VA)
270 schools with D2 Softball programs(22 in NC, 13 in SC, 3 in VA,)
271 schools with D1 Softball programs(12 in NC, 7 in SC, 9 in VA)

 

In addition to income, the questions on the FAFSA also include your assets (own a busness, farm, stock, etc.) and how many children in the family are in college.

Something else to consdier, if you have narrowed down your school choices, is talking directly to the college's financial aid representatives. They were able to give us valuable information and answer questions to help us make decisions and understand the process.

Also click around on the FAFSA site. You can print a worksheet to help with gathering information before you actually file.

 

I've been told last year during our time filing ours that from a family who has a daughter older than ours that if you make over $50K of adjusted gross income on a tax return that you will not qualify for any federal aid......... basically.

$100,000.00 combined income......ha I wouldn't expect that you will be receiving any fafsa aid.

And from what we experienced, that seemed to be quite true.

I know a family who has three daughters. One had graduated, the other I think still in college, the third.....a freshman and the mom told me that they haven't ever received any aid based on their previous years returns and that they do not even bother with the work of completing a fafsa form anymore.

But here is a scenerio that could happen. Say mom and dad works......dad gets hurt at work and can't work or is out of work for months (or mom) well now this particular household has quite different situation at hand. A big loss of income is coming home now. (Or take in consideration the unemployment rate that this country is now experiencing).


Parents should really think about filing a fafsa form with the federal government should their be a unexpected crisis down the road. This is based on our experience that the counselor informed my wife and I of last year....you never know.

Reelturner

 

We were required to complete the forms so my daughter could receive the softball and academic money. Better be sure before you refuse. Also, low interest federal loans maybe available as well if needed so complete form.