WHAT?! $200k savings? I missed that!
You and your parents shouldn’t have a problem affording college.
Here is the other thread…but on that other thread this poster claims that he is ONLY looking for instate status for the UC’s
I wish this poster would be honest about exactly what he or she wants to do!
On this thread…clearly talks about FAFSA, grants and waivers.
On the other thread claims NOT to need financial aid (and with $200,000 in the bank…that sounds like it’s the case).
Wish this poster would be consistent about what his/her intentions are.
It’s pretty obvious to all of us what the OP is trying to do, and we’re all amateurs.
Where UC talks about loans, they mean from commercial entities. How the govt or IRS views loans is a different matter. UC is no dummy.
Since OP just became a resident alien (post 22), I’d suggest not doing anything that could result in being deported. Attempting to defraud the US government is a really bad idea.
FAFSA was asking 45J question under 2015 Untaxed Income section. Gift, loan, and supporting are not taxable and not “Income”. So I just was confused. Someone posted “4k / month could be a loan” and I asked some questions. It seems like that I try to hide money, but for me these are curios questions.
I just said any income or support for 2015. You indicated in your other thread that you earned $8,000 and your spouse $9,500.
I will be earned $8,000 in 07/2016-12/2016. I guess that I made some misunderstanding because of my poor English.We got married in 01/2016 so I put $9500 as 2015 income through wife. and I did not filled out 2015 tax report ( of course I wasn’t in us…), I did not get any supporting from parent during 2015 since I was in my country.
I receive around $4k but I have to give money back to my parent after I graduate since I am not a kid anymore. I was just confused that question 45J “Money Received” is under “Untaxed Income” section. I wondered that money from parents is not “Income” by the financial law, but the questions says that “put all money amount from parent” and it is under “Untaxed Income” section.
Well not $200,000 -> $20,000 … I miscount the number. If I have $200,000 in my checking account, I wouldn’t go to college…
If you are starting college in fall of 2017, you need to file the 2017/18 FAFSA which is available in October of this year.
You put on there how much your spouse made in 2015 and any income or support from parents you received in 2015.
(Was the $200,000 also from parents?)
Next year you will file taxes with your wife for 2016 income. Then in October 2017 you can file 2018/19 FAFSA and report all 2016 income for you and spouse. You can have your parents stop sending you $4000 a month for the rest of 2016. Then you would only have to report maybe $28,000 of support (7×$4000) and $17500 of income and that might qualify you for simplified needs.
You can either live off the $200,000 or use it to pay for your OOS tuition at UC. What state do you live in?
Thank you, it make me simply understand. I live in California now. I heard that no matter I want Financial Aid or not, I have to submit FAFSA. So I was filling out, question 45J made me very confused. That is why I post this thread for Financial Aid question. Another thread is only for In-state qualification.
When did you get a green card?
June 2016.
But are you attending college in fall of 2016 or 2017?
Incorrect. There is no requirement to fill out FAFSA if you do not “want” FA. Lots of families do not fill out FAFSA.
I asked you in your other thread whether this was indeed “5 zeros”. You did not refute it.
If you have 200k (5 zeros, right?) just sitting idly in your checking account, then it is surprising that you need FA.
I do not have any responsibility to refute, I did not have enough time to reply all of them. Also It sounds like that I miscount number is guilty and gives you disadvantage.
BTW thank you for your information that it is not mandatory to submit FAFSA
You do NOT have to file FAFSA! Do you think that Bill Gates filed FAFSA when his kids went to college?
No.
No one has to file FAFSA.
I am attending community college in summer
But if you are attending college now, less than a year since you have lived in CA, then won’t it be harder to qualify for instate residency when you transfer to a UC?
How much is the CC?
I agree. Than, is FAFSA not mandatory for merit scholarships ?