<p>My dad still has not filed his taxes. Is that a problem for us? On 1/10/2012, using our income from our 2010 Income Tax Returns, we estimated our financial information and submitted our FAFSA. However, yesterday, while browsing through CC, I learned of the process of verification, and I went to check out the SAR I received in my email, and unfortunately we were selected for verification. (I did not check the SAR when I first got it because it wouldn't open, and yesterday after searching online, all that had to be done was to allow pop-ups). I also realized from the SAR that I accidentally filled out "Already completed" for our 2011 Income Taxes, which then led me to changing it to "Will File" and submitting it again last night which now is processed. I have a feeling this is the wrong thing to do, and now I'm stressing out!</p>
<p>My main problem is I still haven't heard anything from the school I want to attend (Cal Poly SLO, already got accepted) about sending them tax forms and such. Should I be worried? I just want to maximize the amount of aid I'd receive. I know that around April 1st, they'll show financial aid packets for each individual through their portal. I'm debating whether or not I should call their financial aids office for information because a Cal Poly representative is coming to my school on 3/20, which I'm thinking of asking him/her for what to do. And I'm asking CC because I need to vent, and need some other people's thoughts on this.</p>
<p>So, to sum it up, my questions are:
1. Is my dad not filing his tax yet a bad thing?
2. Was it the right move for me to change "Already completed" to "Will File" on the FAFSA?
3. Should I be worried that I haven't been asked for any forms from Cal Poly SLO?
4. Once my dad files his tax returns (probably this weekend), we can update our FAFSA and it wouldn't be too late right?
5. Once a college releases its financial aid package for the student, can the package still change?</p>
<p>Thank you very much if you could answer this. :(
~Eric</p>
If the school selects you for verification, you will not be able to complete the verification process until your dad files his taxes. (even though your SAR had an *, this does not mean you will be verified. it is up to the school who they verify. We have been verified and not verified when we had a *, and we have been verified and not verified when we have not had a *)
Not sure about this one. In the end it should not make a difference. Your aid is based on your finalized financial information. If you weren’t already chosen for verification, a change to your FAFSA *might * flag your FAFSA to your school. But the important thing is your final finacial information</p>
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This will depend on the school. My daughter’s school never asked for forms. On the occasions she was selected for verification, that information appeared on her student information page. If we had not checked frequently, we would never have known she had been selected. One year we were away when they updated her status so did not submit documents until 2 weeks later and she did lose out on some funds (she asked why she did not get a grant she got the previous year and they dais the funds ran out while she was being verified). My son’s school always asked by snail mail. So it varies. Find out your schools policy and check.
It is never too late. You have to update the data so it is accurate.
YES. It absolutely can change. If the school determines that the information the aid was based on was inaccurate, they will change the package. If anything changes (for instance getting an additional scholarship), they will change the package. They can even change it mid year. My daughter’s first year her package changed constantly up till after school started. Luckily in positive ways. For instance she got the ACG (which no longer exists) and that was added after school started and reduced her loans. This year was the year she missed out on a grant because of the verification delay. SHe did not get it the first semester, but they had more funds come free for the second semester so they added it to her award the second semester (a nice surprise).</p>
<p>Always keep a close eye on your financial aid. And once school starts, don’t so anything such as dropping/withdrawing from classes without checking with the FA department first. Changing status (for instance not being full time any more) can cause a change in your financial aid.</p>