<p>im filling out my fasfa right now and my parents have not filed their taxes yet so im just wondering whether i should wait for them to do it or just put "will file" in the app..if i do put will file. do i put "0" for every thing that has to do with their income? also is it better to submit right now with the "will file" option or just wait it until they do their taxes? im just wondering if its more beneficial if i submit right now or it doesn't matter when i submit my form..thanks alot guys</p>
<p>you should put “will file” and dont put 0’s for income, just put an estimate of what they made and then update it once they file their taxes to correct any mistakes.</p>
<p>o ok thanks for the info Eshug</p>
<p>in the application it has:
What was your parents’ adjusted gross income for 2009?
is this basically saying how much did my parents make in total in 2009?</p>
<p>then the application has:
How much did your father/stepfather earn from working (wages, salaries, tips, etc.) in 2009?</p>
<p>my dad was the only person who worked in 2009 because my mom lost her job so if my dad made like 30,000 in 2009 do i put 30,000 in the gross income section and also in the How much did your father/stepfather earn from working (wages, salaries, tips, etc.) section as well??</p>
<p>thank you</p>
<p>Yes you put it in both places.</p>
<p>The number in the money earned from work question is used to calculate certain allowances (mainly FICA) against income that are only for income earned from work rather than other types of income. The allowances will reduce the income available in the EFC formula (which makes the EFC lower).</p>
<p>hmm ok so just put 30,000 in both places then? my dad only receives money from work and not from any other source of income so i guess i just need to put 30,000 in both places then… thanks</p>
<p>anyone know what tax excemptions are?
Enter your parents’ exemptions for 2009</p>
<p>and Enter the amount of your parents’ income tax for 2009 basically means how much they earned in total right??</p>
<p>thanks</p>
<p>aight nvm guys i just submitted the fasfa app…it says that i got an EFC of 4…i got 0 last time. is there even a difference between 0 and 4 in terms of receiving grants and stuff?</p>
<p>Based on your EFC of 4 you appear to be eligible to receive the following:</p>
<pre><code>* A Federal Pell Grant of up to $5500. Grants do not have to be repaid; they are free money to help with the cost of college.
- An Academic Competitiveness Grant (ACG) of up to $750 for your first undergraduate year or up to $1300 for your second undergraduate year.
- Low-interest federal student loans. The amount of these loans depends on, among other things, your year in college, the cost of attendance at your school, and what other student aid you will be receiving.
- You may also be eligible to receive other federal, state, or institutional grants, scholarships, and/or work-study.
</code></pre>
<p>it doesnt say anything about the BOG Fee waiver. does this mean im not getting it? or is that something my school needs to approve?</p>
<p>damnnnnnnnnn, i started my FAFSA hella days ago, and i never went back to work on it hahaha, thanks for the thread, good reminder LOL</p>
<p>Am i still gonna need to submit my parents financial info even though i’m 24 years old? I recall being told that 24 yrs is the age when your parents potential financial contribution would not considered when applying for financial aid. </p>
<p>If anyone could shed some light on this that would be great. One would think that i would more aid if they see my income alone. Anyone know about how much financial aid i should expect. I’m broke.</p>
<p>there are little pointer things while ur doing FAFSA, itll tell u as you work thru it</p>
<p>jbustos: If you were born before January 1, 1987, then you will count as an independent for FAFSA and you will not have to include your parents’ tax information, only your own.</p>
<p>@movingunit…
- exemptions are the total amount of individuals they can claim…so lets say your parents are still married and can claim you & your sibling, then the total would be 4 (mom,dad,son,daughter etc.)
- income tax is not income, it’s the tax from their 2009 tax return if they have filed which most people have not yet since companies have until the end of Jan to send out w2, 1099’s etc.
- your EFC is 4 meaning $4…which is pretty much the same as zero…it is how much they will deduct from your cost of attendance to determine your need so for example, let’s say they figure your COA as $11,000 and your EFC is $1200 then your financial award will be $9,800…since yours is only $4…you will have virtually the entire award less $4
- your BOG fee waiver is separate from your FAFSA since that is a state waiver and the FAFSA is Fed (they just use the info from the FAFSA to determine eligibility) </p>
<p>@jbustos… parents can only claim you as a dependent in most cases if you are under 24 and a full time student. If you are 24 w/ very rare exceptions (disability) they will no longer be able to claim you as a dependent. You no longer have to use their income for FAFSA purposes. Make sure you also let your parents know that you will now be claiming yourself on your tax returns so they don’t file w/ your ss# and end up having a duplicate #ss on the return.</p>
<p>I just wanted to confirm what was written above—if the taxes for 2009 have not been filed yet, I’ll be sure to write an estimate and then update it later. However, if the taxes are not filed until late March or early April, will it be too late to update the FAFSA? In other words, I’m wondering if there is a ‘final date’ for updating the FAFSA with the confirmed information from the tax returns. Thx.</p>
<p>isnt the final date March 2nd?</p>
<p>I just got this email from the UC system and in it, it said </p>
<p>“Under the Blue and Gold Opportunity Plan, if you are eligible and your family income is below $70,000, you will pay no systemwide fees in 2010-11.”</p>
<p>Does that mean, that if my family’s income is under $70,000 I pretty much get a full ride for a year?</p>
<p>I believe blue and gold only covers tuition so books and living expenses your on your own</p>
<p>niceeee, any money is good money =)</p>
<p>yeah but with the fees increase next year…it will be a substantial amount of money if you get th eblue and gold plan</p>
<p>what makes u eligible for it? just the amount of money ur parents make?</p>
<p>yeah its pretty damn awesome…if your parents make less than 70k, then you dont gotta worry about tuition/fees. and getting the Blue and Gold doesnt mean you wont get more Grants on top of it to cover books, etc.</p>