<p>Hi, I am a rising senior who is planning to apply for financial aid this year.
However, filling out the Profile and FAFSA application forms is very confusing for me because my parents do not file the IRS form (we live in a US territory where they have a slightly different tax system)
Instead, they manage a small business (family business, to be more exact) and only file a form called the Business Gross Revenue Tax Return to pay taxes. I'm wondering if the gross revenue from our business should be written down as the adjusted gross incomes of my parents? It also seems that most of the questions on the CSS Profile and FAFSA are not applicable to our family's situation (no IRS, IRA, etc).
I'm so confused...I will greatly appreciate it if someone can offer me some advice or information regarding this matter. Thank you</p>
<p>I'm not sure what to do as I have no experience with that, but I'd suggest asking a financial aid officer at the school(s) you will be applying to for some help. They should be able to give you some better feedback. Also, check with your HS counselor. They might be able to give you some contacts that would know what to do. Good luck!</p>
<p>You can also call the Department of Education's FAFSA techinical support line at 1-800-433-3243.</p>
<p>Watch the information in that article carefully. It is very misleading. For example, it discusses Perkins and Stafford Loans in one paragraph, then the next paragraph says "Now that you have determined you debt amount and your loan supplier, the next step is to submit a FASFA application". You cannot find your loan supplier prior to completing the FAFSA. Perkins is need based and one cannot begin to tell whether you would be considered need based until the FAFSA has been submitted and processed. I would also advise not taking advice from an article which is poorly written and very vague. There isn't even any information on who is writing these articles, their expertise or who they represent.</p>
<p>superlucky - we were at the beginning of this process a year ago and the most usefull website I found for information was
<a href="http://www.finaid.org%5B/url%5D">http://www.finaid.org</a>
Their information is kept more up to date than any other site I have seen and they explain in depth the different grants, loans etc and have calculators that help you estimate your EFC (Expected Family Contribution). Between finaid and asking questions on this forum I have learned a lot and it really helped us through the whole process. Good Luck!</p>