<p>I have a question regarding the financial statement/financial aid forms.This forms ask the "parents' cash, savings and checking". Do my parents need to provide a letter or statement from the bank where they have their account ? Thanks in advance</p>
<p>no you just write down what the amounts are on the day that you complete the forms.
Hold onto your bank statements though becuase they may ask for it later( although unlikely)
What they do ask for is signed copies of W2's and 1040 forms for parents and student</p>
<p>also please note that i'm an international applicant.
can you explain to me what "W2's and 1040 forms " are ?</p>
<p>w2s are employee wage statements and 1040 is the federal tax form
submitting the comparable forms from your country would take their place</p>
<p>I'm an international, too. I sent bank letters to them because the colleges I apply to specifically asks for bank letters. Read your apps carefully; they say everything. It differs from college to college.</p>
<p>wtf, can't someone's parents who really have $99999999 Trillion in their savings say "oh i only have $10,000" to cheat the system? I mean your parents should be the ONLY ones who have the ability to see how much money is in their accounts. The government has no right to go into an account to see how much $$ it has.</p>
<p>Obviously the 99999999 Trillion figure is an exaggeration...hell, if they did have that kind of money, they could probably purchase the school and give free tuition to everyone for the next 10 years all from pocket change. My point being is that cant someone easily lie on that. Sure, they may require the bank statements, but in all fairness, do you really think it's right that government has the ability to look into those things? Call that a breach of privacy or something.</p>
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<blockquote> <p>can't someone's parents who really have $99999999 Trillion in their savings say "oh i only have $10,000" to cheat the system?>></p> </blockquote>
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<p>That is called FRAUD, and could not only jeopardize one's finaid, but could also lead to legal charges. Sure someone "could" do this....but many schools require signed tax returns and W-2 forms that would clearly indicate income (let's face it, an account with trillions in it would earn a LOT more reportable interest than one with 10 thousand). NOT WORTH BEING DISHONEST on the finaid forms.</p>
<p>Mr T:</p>
<p>On the bank balances, you can take a photocopy of your check regesters, if you want; but, at least write down a page of notes to remind you how you got all the numbers. It all makes sense at the time, but as you go back and redo the forms year after year, you begin to lose track. Even with verification, we've never been asked for more than tax returns, etc., but perish the thought that you are asked and cannot figure out what you did. I just have an evelope where I keep a copy of my notes to self. If you can find it the next year, it can help you be more consistent and reanswer those questions you have each year.</p>
<p>I would imagine that if some one else accused you of fraud to the fin aid dept. then you might be asked what you did..........or perhaps if you run for political office someday!</p>
<p>Of course lying on the thing is fraud. That does not stop people from doing it. Besides, you could just transfer all the $ into retirement funds so when they ask for savings, you can truthfully say that you only have $X in it.</p>
<p>Who cares, it was a stupid comment, it's not worth bringing this thread off topic any more.</p>