@mommdc my mom don’t receive any child support. She just receive around 32,000 a year. I was told by someone else on college confidential that I should pay everything that I owe before filing fasfa so the amount of money I have can be at the lowest. I’m planning to purchase a car before college so I can have a reliable transportation. Would bring the car effect me in any financial aid way
@dadof4kids I’m looking to buy a car so I can have a reliable transportation. Would the car count against in when filing for financial aid?
The car won’t matter.
Buying a car will reduce the assets you have (liquid) but won’t change your income reportable on that year’s FAFSA. You report the income from 2 years prior, so if you are filing for 2019-20 FAFSA, you’ll use 2017 income.
Also, if you have quit your job, how will you pay car expenses ongoing?
@thumper1 so if I work for months and then when it’s time to file fasfa I go out a buy a car it wouldn’t consider as an asset.
I own an online business @thumper1 it’s not a job. The only way I can stop making money from it is if I shut it down
Also the business got me accepted/scholarships from many school because there’s thousands of people who get a 4.0 and captain of a sport but not many Highschooler who could start a successful business.
Hey let’s assume I got accepted into a university and I was given a finically aid package. And then I become a sophomore and I receive a part time job, does the part time job now lower my amount of money I will receive?
You’ve got a business, so you can pay for college. You took the benefit of getting into college because of the business, now you have to use the earnings to pay for college. Easy.
Your car isn’t considered an asset.
But it’s very possible that the value of your business could be at some colleges.
@twoinanddone thank you so much Ima keep focusing on school and maximize my business regardless of how much financial aid it would drop Bc my money from my business would just outweighs the loss