<p>What do I put for the amount of 2008 income tax? Do I put the amount from 2007? As for the gross income, I put the 2008 amount (using latest paystubs).</p>
<p>you won't know the amount of income tax paid (not income tax withheld) until you (and parents) do your taxes. Also, Gross Income is never asked for. Your AGI and Earned income are not necessarily = Gross income</p>
<p>Estimate tax for now, using '07 return and adjusting a bit up or down based on whether your income went up or down.</p>
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Also, Gross Income is never asked for. Your AGI and Earned income are not necessarily = Gross income
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By gross income, I meant to say taxable income.</p>
<p>By the way, do colleges tend to give more aid to students who say they're gonna live on campus or with parent?</p>
<p>The cost of attendance to live on campus is more than the costs associated with living with parents. Assuming that your EFC is lower than the cost of attendance, and your school meets a high percentage of need, then you would get more financial aid if you are living on campus. If it is a school that "gaps", then it may not make much of a difference. </p>
<p>However, you can't just "say" you are going to live on campus. If you chose to live with you family after you get your financial aid package, that package will most likely be adjusted to reflect your actual lower cost of attendance.</p>
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However, you can't just "say" you are going to live on campus. If you chose to live with you family after you get your financial aid package, that package will most likely be adjusted to reflect your actual lower cost of attendance.
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Right, but for one of the colleges (University of Maryland), I'm not sure yet whether I will live in a dorm or with parents, so I decided I would pick the option that would provide more financial aid.</p>
<p>Also, it is ok to leave the "Your finances" section completely blank if you don't file taxes or have a job, right?</p>
<p>bump (10 char)</p>
<p>If you haven't decided what you are doing about housing definately put down that you will be living on campus. </p>
<p>FOr your income section just put zeros if you have no income or assets</p>
<p>If I am not ableto make corrections to my fafsa before the deadline(s), does that mean I will not be considered for aid even though I have already submitted the fafsa using estimations?</p>
<p>you should be fine. they aren't expecting the perfected version before the deadline. Just do the corrections as soon as possible when you get all the paperwork/taxes done.</p>
<p>For the number of exemptions, it says "2" on each of my parents' 2007 IRS form (using for estimation). So when it says "Enter your parents' exemptions for 2008," I should put 4, correct?</p>
<p>I'm not sure I understand your question. Do each of your parents fill out a separate tax form? Why?</p>