<p>My parents are separated and in the process of a divorce. An absolute decree has not been made but an agreement has already been reached. I've heard that it's only custodial parent income that is taken into account, i live with my mom who doesn't work. Therefore, would her income just be the child support and her maintenance fee that she receives from my dad? If this is relatively low (how low should it be?) would I get financial aid?</p>
<p>My dad works overseas (in Hong Kong) and I was just wondering how to fill out the EFC and later the FAFSA? He doesn't file taxes here but rather in Hong Kong.</p>
<p>If you live with your mom, you will only have to put her info on the FAFSA. That takes care of the foreign income issue!</p>
<p>You just report any income your mom receives. If it's just child support & maintenance fee, then list just that. Pay attention to the questions on the FAFSA, and make sure you put the amounts in the correct places.</p>
<p>If you are required to file the Profile for a school, they may request your father's info. The FAFSA does NOT require it.</p>
<p>Most people are eligible for some financial aid, since unsubsidized loans are financial aid & they are not based on need (but cost of attendance & scholarships/other aid figure into eligibility). For a Pell grant, there is a sliding scale based on expected family contribution (which is what is computed from the info you provide on your FAFSA). You can put your info into a financial aid calculator to see if you'll qualify for Pell. There are several different need based grants, college work study, subsidized and unsubsidized loans that are all awarded based on both your EFC and your Pell eligibility. In general, the lower your EFC, the more gift aid you MIGHT receive ... but there is no way to know how much until your EFC is computed & your school issues you an award letter.</p>
<p>Oh okay great, and then in the total number in the household do I still count both parents or just one?</p>
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<blockquote> <p>I was just wondering how to fill out the EFC and later the FAFSA>></p> </blockquote>
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<p>Well, Kelsmom gave you the important info you need. But I'll add...YOU don't fill out the EFC. You complete the FAFSA and an EFC is calculated based on the information you fill out.</p>
<p>If your father is not in your household, you do NOT count him as a member of your household. If you count him as a member of your household, you would need to list his income and assets (right Kelsmom?).</p>
<p>One thing to keep in mind is that the maximum amount of federal aid (if you were to qualify for the maximum) will not pay the total cost of attendance at a four year university with you living on campus. So remember to look at the total costs of attendance at the schools to which you apply.</p>
<p>Can I add my question here?</p>
<p>Yesterday, we were talking about the FAFSA and my dad brought up a good point - what happens if you fill in a false income in the FAFSA, or you give some other incorrect information? What happens?</p>
<p>if you lie on the fafsa and are selected for verification (or they somehow find out you lied), you could be subject to criminal charges. and lose any aid you already did get based on the lie.</p>
<p>Signature</a> Certification
<<if you="" purposely="" give="" false="" or="" misleading="" information,="" may="" be="" fined="" $20,000,="" sent="" to="" prison,="" both="">></if></p>
<p>If it is a minor error and they discover it they automatically correct it. (People frequently post about their FAFSA info having being changed, without their knowledge, to reflect minor income they have omitted, and there have been post of FA officers requesting information to show how a person miraculously made a ton of interest without any investments.). If it is a deliberate fraud attempt then they can fine you, send you to prison, any aid actually paid out will have to be repaid. When you sign FAFSA you sign a statement saying you know the consequences of lying on it. This is a Federal form - do not lie on it.</p>
<p>1/3 of FAFSAs are automatically selected for verification (where you must provide documentation prooving your information is true). ALso conflicting information will trigger verification.</p>
<p>
[quote]
If you are the parent or the student, by signing this application you agree, if asked, to provide information that will verify the accuracy of your completed form. This information
may include U.S. or state income tax forms that you filed or are required to file. Also, you certify that you understand that the Secretary of Education has the authority to verify information reported on this application with the Internal Revenue Service and other federal agencies. If you sign any document related to the federal student aid programs electronically using a Personal Identification Number (PIN), you certify that you are the
person identified by the PIN and have not disclosed that PIN to anyone else. If you purposely give false or misleading information, you may be fined up to $20,000, sent to prison, or both.
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[quote]
Giving permission to state agencies to obtain income tax information and certifying your application data. By electronically signing FAFSA on the Web or signing a PDF or paper FAFSA, you also give permission to the state financial aid agency to which information is being sent to obtain income tax information for all persons required to report income and for all periods reported on this form. Finally, by electronically signing FAFSA on the Web or signing a PDF or paper FAFSA, you are certifying that the data you are providing the Secretary of Education is true and accurate as of the date signed. The Higher Education Act provides that the Secretary can verify certain student and parental data with the Internal Revenue Service (IRS) and other federal agencies to insure its accuracy.
[/quote]
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<blockquote> <p>what happens if you fill in a false income in the FAFSA, or you give some other incorrect information? >></p> </blockquote>
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<p>As mentioned...on purpose..it's fraud. Remember many schools also require your tax forms too and W-2s. Of course if you fill in false info on your tax forms that is a federal offense.</p>
<p>What will happen? You will risk losing not only your financial aid but also your acceptance to the college(s).</p>
<p>Thumper1 is correct about the household being student & mom (and siblings if there are any living with mom and student).</p>
<p>Do not lie on the FAFSA! As pointed out here, you are signing a federal document stating that you provided correct info. Wrong is wrong, even if you <em>think</em> you won't be selected for verification.</p>