fafsa -

Paying for College
21

<p>thanks, swim. I saw the question on siblings accts on the college board efc tool. Maybe this was there because I asked for both FM and IM results, and perhaps IM cares about siblings accts?</p>

<p>Also, another FAFSA question:</p>

<p>Is there any place to report unemployment compensation ?</p>

<p>What also prompts this question is when I saw item (92c) on the SAR preview, ‘parents earnings from need based employment programs’. I wonder if unemployment comp is a part of that, but I do not recall seeing this question on the online FAFSA.</p>

22

<p>^ Just to clarify, swim means INCOME under $30k, not EFC! :p</p>

23

<p>oops -yes I meant AGI under $30k. TMDA (To many darned acronyms!!)</p>

24

<p>It’s ok swim :). I agree with TMDA!</p>

<p>Btw- your post count just made my dyslexia go nuts (6696).</p>

25

<p>92C

Parents earnings from need based employment programs would be referring to work study income included in the parent’s AGI. That would be used to reduce the AGI as WS income is not supposed to penalize the recipient by increasing the EFC. (All the “92” questions are used to reduce the AGI).</p>

<p>The taxable part of unemployment income would already be included in the AGI on the tax return. Any untaxed amounts would be reported on question 93i, other untaxed income and benefits.</p>

26

<p>Is the work study income work study that the parents engaged in or the student?</p>

<p>also, I added some links to another cc thread on this subject. I think that since unemployment comp is a part AGI, and AGI is already reported on FAFSA, it should not be reported on FAFSA separately since it is taxed income. This is consistant with what swim just said.</p>

<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/840997-fafsa-2009-2400-unemployment-deduction.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/840997-fafsa-2009-2400-unemployment-deduction.html&lt;/a&gt;&lt;/p&gt;

27

<p>But in 2009 a portion of unemployment (first $2400) is exempt from tax so is not included in the AGI. As posted in post #26

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