FAFSA EFC=0 score wrong?

Paying for College
1

This is probably the opposite of what people are used to hearing, but I got an EFC score of 0, but I do not believe this represents what I could pay for college. I don’t want to get into any federal trouble so I don’t know what to do. My parents had a total of 150000+ last year, but however my mom lost her job that year. My parents are married and my dad is still keeping us above that line. So I believe my FAFSA score should be higher then 0. I think it may have been because my mom thought and misinterpreted that an IRS Form 1040A or EZ can apply to one parent for eligibility, but I think it meant for both parents in total. Should I do anything to rectify this? If so, how?

Thank You

2

This is confusing. For this year’s FAFSA, you use the numbers from 2017. Did you do that? Are you saying their combined income for 2017 was $150,000? You need to include the income from both of your parents, whether they filed jointly or separately. Did you do that?

3

Yeah, I did combined income. I put the amount my mom made last year even with her getting fired.

4

Go back over what you filed. You definitely made a mistake somewhere.

5

I already submitted it though. Is there anyway to edit the form?

6

If your parent total income was $150,000 in 2017, it does not matter that one lost a job or could file a W 1040 A or EZ form.

There is a mistake on that fafsa someplace.

Did you indicate you are in “guardianship” by any chance???

7

Find the error. Then, yes, it can be corrected.
Congrats on sniffing this out when it didn’t make sense.

8

Was that in the student portion when it was asking when it was asking if the student, me, was filing a irs file and how much money I make and such? because then I didn’t.

9

Go over it all. No mis-entered numbers, etc.
The 1040EZ question shouldn’t apply at 150k. They’d be 1040, as a couple.

10

There is a series of questions:

Were you in guardianship?

Are you going to be 26 during this academic year (actually the question asks if you were born before a certain date)

Are you the parent of a dependent child?

Are you a veteran?

Are you an orphan?

Have you been a ward if the state or in foster care?

These questions determine if a student is independent for financial aid status on the fafsa, and if answered YES to one question. You would be. If that were the case, your parent info would not be used and your. eFC possibly would be $0.

So check those questions. Your answer probably should be NO to all of them if you live with your parents and none of the others apply.

11

we were in a rush a few years ago to fill out our son’s fafsa. we missed something major. His EFC was really low and grant eligible when we got back the Student Aid Report. His school asked for verification right away.

My guess: there’s no way of getting around this; you will be asked by the school to provide verification with a 0 EFC. Might as well try to fix it now! With a similar income to yours; his EFC was $30K+.

12

I submitted it today, so do I have to wait until they are finished processing it to change it?

13

Yes…wait until it processes

14

Alright, thank you for your help!, I was really worried.

15

But do find the error.

I once had to resubmit because I missed a few hundred my kiddo had from a second summer job. Not hard.

16

The good thing about the Fafsa is you can change online and resubmit