Forums
New posts
Search forums
What's new
New posts
New profile posts
Latest activity
Internet Search
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
Parent Support Forums
Parent Emeritus
He called. Mellow conversation, he's staying at school, I am guarded but hopeful
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Signorina" data-source="post: 458324"><p>FYI - The information he would need to complete the FAFSA (needed by ANY student under the age of 25) is:</p><p></p><p>Parent(s)</p><p>Social Security Number(s)</p><p>2010 W-2 (for every job worked during 2010)</p><p>2010 Federal Tax Return (1040, 1040A or 1040EZ)</p><p>Records of additional money earned</p><p>Untaxed income records (Social Security, TANF, Welfare, Worker's Comp.)</p><p>Current bank statements for all accounts</p><p>Current investment records and account statements including IRAs, 529s, SEPs, 401Ks, SIMPLE plans etc</p><p></p><p>Both my husband and I are self employed. H owns an S Corp and he and I are the only shareholders. I work for a family business which is technically 3 "S" corporations. As such, we would have to provide detailed financial information about all 4 businesses including the Balance Sheets and tax return information. Honestly, I am not even privy to some of the detailed financials needed from my own family's business! Regardless of our cooperation, he would not qualify for Financial Aid or subsidized loans. (we're not wealthy by any means, barely hanging on in this recession, but we have a lot of assets ON PAPER including difficult child's 529 plan which could be paying for his education. Ironic. We started his 529 to protect his college money from our self employment ups and downs)</p><p></p><p>He cannot qualify as an independent student under any interpretation of the guidelines. Wanting to pay your own way so you can use drugs IS NOT a qualifying event (LOL)</p><p>Even if HE were a PCx100, I would have concerns about releasing such detailed information</p><p></p><p>Edited - and NO we would not be liable for his loans even if we provided the information. They use it to compute "expected family contribution" which is what would make him ineligible. I am guessing that if he does obtain an unsubsidized loan, he will need a co signer which will not be us or his grandma or uncles.</p></blockquote><p></p>
[QUOTE="Signorina, post: 458324"] FYI - The information he would need to complete the FAFSA (needed by ANY student under the age of 25) is: Parent(s) Social Security Number(s) 2010 W-2 (for every job worked during 2010) 2010 Federal Tax Return (1040, 1040A or 1040EZ) Records of additional money earned Untaxed income records (Social Security, TANF, Welfare, Worker's Comp.) Current bank statements for all accounts Current investment records and account statements including IRAs, 529s, SEPs, 401Ks, SIMPLE plans etc Both my husband and I are self employed. H owns an S Corp and he and I are the only shareholders. I work for a family business which is technically 3 "S" corporations. As such, we would have to provide detailed financial information about all 4 businesses including the Balance Sheets and tax return information. Honestly, I am not even privy to some of the detailed financials needed from my own family's business! Regardless of our cooperation, he would not qualify for Financial Aid or subsidized loans. (we're not wealthy by any means, barely hanging on in this recession, but we have a lot of assets ON PAPER including difficult child's 529 plan which could be paying for his education. Ironic. We started his 529 to protect his college money from our self employment ups and downs) He cannot qualify as an independent student under any interpretation of the guidelines. Wanting to pay your own way so you can use drugs IS NOT a qualifying event (LOL) Even if HE were a PCx100, I would have concerns about releasing such detailed information Edited - and NO we would not be liable for his loans even if we provided the information. They use it to compute "expected family contribution" which is what would make him ineligible. I am guessing that if he does obtain an unsubsidized loan, he will need a co signer which will not be us or his grandma or uncles. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Parent Support Forums
Parent Emeritus
He called. Mellow conversation, he's staying at school, I am guarded but hopeful
Top