<p>Ok, I went to the FAFSA page and I looked at all the information I needed to have. I'm confused because they ask for "Your...." and then "You parents, (if you are dependent.)" </p>
<p>I don't work. I don't have any W-2's or anything so how do I go about applying? When they ask for my stuff do I assume my parents? I'm confused.. I'm a CC student and this is my first semester. I didn't apply for a FAFSA in January or February, I don't work I depend fully on my parents. What information do I need to apply for the FAFSA because I'm really going to need Financial aid for next semester as I will be moving to California and they will be leaving the country. </p>
<p>Help me. Thanks and for all those who help me I really appreciate it!</p>
<p>Ok So just get everything they ask for? Cause Im really confused! They only ask for my parents information once. They what about when they ask for assets? Like house and bank statements. Are they referring to mine or my parents?</p>
<p>TAke your time going through the FAFSA. It helps to print out the worksheet they offer before you start doing it. Basically, you’re going to go through a set of questions where it’s asking about <em>you</em>, and then it will ask the <em>same</em> questions about the parent who supports you.</p>
<p>Random question, but if you are applying for FAFSA, when is the best time to do it?
I am an incoming High School senior…class of 2010, so when would be the best?</p>
<p>As soon as possible after Jan 1st 2010. (2010-2011 FAFSA is not available till jan 1st 2010). But get your PINS set up earlier as occasionally there are problems with them.</p>
<p>When you fill out that FAFSA on Jan 1, 2010, your parents and you will not yet have completed your taxes for 2009. Therefore, you need to do this FAFSA with estimates that are as close as possible to the real numbers that will be on the tax returns. This means that your parents should save their pay stubs from the end of the year (usually these have year to date as well as the current pay period) to help you with the income end of it, and their taxes paid. They will also need the most current bank statements so that the correct amounts can be included. You will be indicating “will file” as your status on the FAFSA regarding tax returns. If you (the student) have no job and won’t be filing, YOU will indicate “not filing”.</p>
<p>As soon as reasonably possible after Feb 1, which is when you should have all the documents to complete the 2009 tax return, complete your 2009 tax return. THIS IS NOT THE YEAR TO WAIT UNTIL THE LAST MINUTE TO COMPLETE THE TAXES. Once the taxes are completed, you go back into the FAFSA and put in the income and tax numbers that are from your tax return. You don’t change your assets…just your income information. Then you change your status to “taxes completed”…and resubmit the FAFSA.</p>
<p>Until you have a FAFSA that indicates your taxes are completed, any financial aid award you receive will be an estimate only.</p>
<p>I haven’t completed a FAFSA this year and I will need financial aid for my transfer to a California Community College which will run at about 200 dollars per credit hour. So all the FinAid available will be needed. And when Applying for PIN’s, do each of my parents apply for one or both just get one together? Also what are my Chances of getting FinAid for winter quarter at a CCC? Also I will need money for Rent, does FinAid also cover that?</p>
<p>Two pins are needed for FAFSA - one for you, and one for your parents (together). How much financial aid you get depends on your EFC and whether your CC has any other funds available. I would not count on it covering rent too, but get your FAFSA filed asap!</p>
<p>Alright thanks, but when I apply for a PIN it asks for a first and last name? What do I do? Also other information that corresponds to one person. What then? Do I mix it up or what? Or where do I apply for a PIN for both parents? Or is it just one parent applies for ONE?</p>
<p>Give them your first and last name?! Not sure what the question is. You apply for your PIN, your parents apply for their PIN. Either parent can apply.</p>
<p>Only 1 parent needs a PIN. It goes under that parents social security number so is just for that parent - not shared by both parents. Only 1 parent is required (or able) to electronically sign FAFSA. So a total of 2 PINs. I for you the student. 1 for whichever parent decides to get one.</p>
<p>When you complete FAFSA it uses the financial information provided to produce a number called the EFC (Estimated Family Contribution - this does not mean it is all your parents are expected to pay, it is just a figure used for determining eligibility for certain aid). This EFC is sent to the colleges you list on FAFSA. Each college has a number called the COA (Cost Of Attendance) which is an estimated average cost for students attending that school. it usually includes costs for tuition & fees/books/room&board/travel expenses/personal expenses. The difference between the FAFSA EFC and the schools’ COA is your financial need on which aid is based. How much aid you are eligible for will depend on what your ‘need’ as calculated by the COA less than the EFC is. The type of aid you are eligible for will depend on your EFC and on your schools financial aid policies. Not all schools will meet full need.</p>
<p>Yes financial aid can cover living costs up to the estimated price included in the COA for room and board. But remember need based aid is based on your financial need as calculated by the COA less the EFC, not just on you thinking you need aid.</p>
<p>For instance if your family income/assets are low and you end up with an EFC of, say, 1000 and your school COA is $10,000 then your calculated need is $9000. This need may be met with federal grants, loans, and work study. If your EFC was 6000 and the school COA was $10,000 then your calculated need is $4000. Your EFC would be too high for federal grants (the upper limit is @ 4619) but you would be eligible for up ti $5500 in federal loans. Some (up to $3500) could be subsidized loans (meaning the govt pays the interest until after you graduate or drop below 1/2 time) as they would be need based. You may also get work study if the school has it. But if your EFC is 11,000 then that is higher than the schools COA of $10,000 so you would not have any ‘need’. You would still be eligible for up to $5500 in stafford loans as a freshman (for the entire school year) but they would not be subsidized as you have no financial need.</p>
<p>And remember not all schools, especially state Us, promise to meet full need. You say you are moving to California. Are you from California? If not your costs as an out of state student will be higher than those of an instate student. It is likely your full need will not be met.</p>
<p>Why did you not apply for aid for this current semester?</p>
<p>swimcatsmom - No I am not from California, but my parents are moving to out of the Country so I must go live with my Aunt. Also I want to do the TAG program and get into UCI which offers a Medical Program which is what I am looking for. Also my parents income is VERY LOW, $34000 last year and they have already paid $2000 for Tuition and Books this semester, I don’t want to put them through that. They are coming of age and I want them to enjoy the rest of their lives without having to put me through college which will exhaust their savings which is very minimal and not even in this country. If they have savings in another country, do they include that in the savings portion of the FAFSA?</p>
<p>Yes they are supposed to report all required assets whether they are in the US or another country. @ 5.6% of reportable assets go to the EFC but there is a certain amount of asset protection for parents based on the age of the older parent. Only reportable assets over the protected income will affect the EFC. Also if they were not required to file a 1040 tax return then with that income you will probably be eligible for the simplified needs test where assets are ignored.</p>
<p>Their assets in Mexico (their home country) are probably negligible. Even if I move with my aunt who will most likely charge me for rent, will I be able to ask for financial aid in that respect? Or will that not be included? Also if they leave to Mexico how will they responsible for providing me with support if the income they receive will no longer be from this country? When I fill for another FAFSA come January, 2010, will I just put 0’s all over the place or how will that work?</p>
<p>No they cannot put 0s all over the place. They must report all parent income wherever the income is from. So income in Mexico must be reported on FAFSA just the same as income in the US. </p>
<p>Green card holders and US citizens continue to be required to file US taxes even when they are living out of the US. After spending a certain amount of time out of the US there may be some sort of tax credits which might mean no tax liability in the US (complicated and requires a tax expert which I am not). But if they have spent most of this year in the US then they will probably be required to file a US return, assuming their 2009 income is enough to require a return. If they are required to and do not file one you will not be eligible for any federal aid. Even if they are neither green card holder nor citizens they must report their income on your FAFSA .</p>
<p>Schools vary as to how they handle room and board in the COA for off campus living. For some schools it will be the same as for on campus, for others it may be less.</p>
<p>Your parents will still be responsible for providing support for you, a dependent student, even if they are not living in the US. Any money they earn is reported on the fafsa using the exchange rate in effect on the day you file the fafsa. If they are required to pay taxes in Mexico, you include the taxes on the fafsa; if not, you just report the income.</p>
<p>As for money to pay rent, you will be given a Cost of Attendance by your school. This is a budget for financial aid that is based on average costs for students. This budget will include an allowance for room & board. You MAY get aid awarded up to the COA, but that depends on the school. If they don’t meet need, you may not have enough money for rent (unless you borrow a private loan) — but then again, you may receive enough aid from grants & federal loans. It depends on the school & your personal situation.</p>