<p><em>LOLOLOL</em> about the mistake on the FAFSA during your daughter's sophomore year!! I needed a laugh right about now!! I can just imagine how puzzled you were to be getting those strange inquiries!</p>
<p>I'm glad that the letter you wrote to your D's college provided positive results. I am hoping that the same will happen for us. I think I will work up a letter tomorrow morning. </p>
<p>This whole financial aid process seems harsh and unyielding. I can, though, understand the efforts to prevent cheating. I know someone who blatantly cheats on her income tax forms, and I have no doubt she'd do the same on college financial aid forms. This type of abuse must be guarded against, I suppose. </p>
<p>I am nervous about what the future holds for my dh's job. We are expecting and planning for the worst, but hoping for the best....</p>
<p><em>LOL</em> about the repetitive school outfits in third grade! I have a friend whose sons would pick about three outfits a year to wear all the time! She was always concerned that the teachers and administrators would think that her sons had no other clothing. My kids complain that they wear something once and never find it again due to the laundry process that has about a six-month turnaround!! :) I am way too disorganized to have six kids! ~berurah</p>
<p>Berurah, it's not that the efforts are to prevent cheating. If you are a cheater, cheating on your tax forms, not reporting income, hiding assets, then there is little that the financial aid process is going to do to discover this abuse. They rely on what is reported on the 1040. The effort is to make sure they dig up every bit of income and assets, even those sheltered from taxes. Really the only way you cheat on financial aid is by not report income and assets, and if it is not on your tax forms, it is highly unlikely they will catch it. It's really frustrating because if you have a fairy godmother who decided to help you out this one year and gifted $10K towards college, that has to be reported as income for next year which would increase your EFC accordingly by about another approximate 25% even though it went directly to college expenses! Maybe more if it is attributed to the student rather than to you. The biggest abuses I see in financial aid are unreported gifts from grandparents, non custodial parents slipping money under the table while they are on record as not being in the picture, and owner businesses hiding income.</p>
<p>I see what you are saying. Well, no worries for us regarding fairy godparents or generous grandparents! This financial aid process is quite frustrating. I sure hope my son gets some merit aid offers! ~berurah</p>
<p>Ok, Emeraldkity, I figured out why you would get more aid if your incomes are more evenly distributed betwen H and you. FAFSA lets you keep 35% of the second income up to about $8500 before assessing it for college. So if you earn less than $8500, you do not max out on that allowance. If you could redistribute the income from H's salary to yours up to $8500, you would get that approx $3000 sheltered. Nice to know for home businesses. If H & W are working, it might be smart to raise the lower paid one to that $8500 threshold if it makes a difference in financial aid which it well could. The other thing that could make a difference is using the 1040A or 1040EZ instead of the 1040. This is helpful for those with low earned income but high investment income and assets. There are a number of tidbits like that which can make a difference for those in that area of qualifying for financial aid.</p>