<p>Ok, I just renewed both of my girl's Fafsa's and it took about 5 minutes for each. I am sitting here thinking I did something wrong. This is the 3rd year I am filling them out and I never remember it taking so little time. I remember it prompting me with more questions before? It didn;t ask if we could file a 1040ez or anything like that. Didn't ask parents cash in bank. Nowhere to put amount of 529's? Did I miss something?</p>
<p>Do you have an AGI less than $23,000 and either federal means tested benefits (food stamps, housing assistance, free/reduced lunch, etc) or you are a dislocated worker? If so, the skip logic would have allowed you to skip all the other questions. That would mean you are an automatic 0 EFC. Sound right?</p>
<p>Dislocated worker, but AGI is in the low 50’s. It asked if we had assets over 58k and when I checked no - it skipped some other questions I believe. EFC was decent for one child, but not the other because she made too much herself. It just seemed too effortless.</p>
<p>I was just thinking - does their 529 amounts get listed in that question. I thought it said savings, investments but not 529??</p>
<p>I believe 529 accounts are listed under parent assets.</p>
<p>
[Completing</a> the FAFSA 2010-2011/The Application Questions(41-43)](<a href=“http://studentaid.ed.gov/students/publications/completing_fafsa/2010_2011/ques3-2.html]Completing”>http://studentaid.ed.gov/students/publications/completing_fafsa/2010_2011/ques3-2.html)</p>
<p>I am still ok, the 529’s are just under 58k. I wonder why it comes up with 58K as a criteria. That is something new this year I think, based on what you income is. It indicated that it is not the same for everyone.</p>
<p>question 34 asks if you are eligible to file 1040ex or 1040a- these instructions say everyone is asked.
[Completing</a> the FAFSA 2012-2013/The Application Questions(32-34)](<a href=“http://studentaid.ed.gov/students/publications/completing_fafsa/2012_2013/ques3.html]Completing”>http://studentaid.ed.gov/students/publications/completing_fafsa/2012_2013/ques3.html)</p>
<p>it asked if we filed, I put completed and then the drop down asked which and I put in 1040. Ijust followed through what it took me to. We itemize. I can’t get back on to look at it at this point because I submitted it and have to wait until it is accepted. I went through it again before I submitted. So now I will wait until i can see it again and see if I messed up somewhere and fix it.</p>
<p>I had the same thing happen. I filed 1040 because I itemize mortgage interest and property tax. My AGI was around 55k. It asked if my assets were over 15k, which they are not, then it seemed to skip some questions. My EFC was around 6800.</p>
<p>^^ Same Here ^^</p>
<p>I think that the Fafsa-On-The-Web has made it very easy for us. Basically, instead of listing out your assets on the form, it asks whether your assets (investments, bank accounts, 509 accounts, additional real estate) are above a certain $$ amount, which they term your ‘Assest Protection Allowance.’ This number differs for everyone depending on # of family members, age of older parent, etc.</p>
<p>Didn’t you print out a copy of the FAFSA you submitted? If you didn’t do so…remember to do it the next time.</p>
<p>I seem to recall that the FAFSA has a “skip logic” format now that asks certain questions and depending on the answers…“skips” sections. Perhaps this is what you encountered.</p>
<p>Thumper,</p>
<p>When I filled out the FAFSA, it said “Do not Print. You will be instructed to print after completion” or something like that. Then, I was instructed to print the confirmation page, which only listed the Estimated EFC and the list of schools. Weird. Did anyone else remember reading this?</p>
<p>If those print instructions are what they are, things have changed since I last completed a FAFSA. I always printed out a copy of the thing…in fact just shredded all of the ones for my kids from undergrad school.</p>
<p>The reason it was so easy for you was because your assets were under the threshold … they don’t care how much they are if they are under the threshold. It makes the process a lot easier!</p>
<p>What happens if you accidentally put that you were eligible to file form 1040A but in reality were not able too and got to skip asset questions? I assumed yes because my parents income is less than 100k and we dont have itemized deduction but my dad is self employed. Is this a problem? Will colleges ( going to nyu ) ever ask for asset verification like bank statements and such? I know of tax returns verifications but not assets. How can FAFSA verify assets if they even can?</p>
<p>That is a big boo boo and can be considered fraud. You will have to correct that on the FAFSA. They ask you that question because it is easy to determine that you do not have a business if you can fill out that form.</p>