<p>You would need to contact the school directly about corrections. Each school has its own policy (since there is NO provision for amending the Profile online...why?? Good question for another thread). When we had to make amendments last year, we had to print out the Profile we submitted, and handwrite the corrections next to the appropriate items. We actually used red pen to make it easier for them to find. The schools we dealt with told us that we should do this.</p>
<p>great thanks Thumper. I realized I said I had filed a candian tax return when in fact I filed a UK one, pretty big difference.</p>
<p>I understand my daughter applies for a PIN and a parents applies for one too. Does the parent who no longer lives with the student need one as well? My understanding is that FAFSA only asks for the financial info of the custodial parent. Thanks.</p>
<p>I need help on these two questions om FAFSA:</p>
<ol>
<li><p>Do parent and student need two sepearte pins?
[QUOTE]
I understand my daughter applies for a PIN and a parents applies for one too.
[/QUOTE]
</p></li>
<li><p>I have missed my pin and email them and still waiting, is there telephone number to contact as it has been already more than a week. Thanks</p></li>
</ol>
<p>Out Profile is alrady submitted. Thanks</p>
<p>Sushi - finaid has good info relating to divorced parents and FAFSA</p>
<p>One parent and the student each need PIN numbers. The FAFSA only asks for custodial parent information so I am guessing that only the parent who will be providing the info needs the PIN. But better to check the site.</p>
<p>I was unclear about pins for PROFILE, so I e-mailed them. This is what I got back:</p>
<p>"You can use the student's user name and password account or you can establish your own for the purpose of accessing the PROFILE. The only difference in using the student's account versus creating your own, is that, if you use his/her account, he/she will have access to all of the financial information in the PROFILE Application since the user name/password is your secure access to your PROFILE data.</p>
<p>If you create your own user name account, the PROFILE schools you list on the Registration will receive the Financial Report once you submit the Application. The student's Financial Report will be identified by the institutions from the student's Social Security Number which you will list on the PROFILE Registration."</p>
<p>Did FAFSA for son beginning 3 yrs ago, using my PIN (mom). Will now need to do FAFSA for both senior son and freshman daughter. Will the FAFSA be one form that I file for both students, or will I file 2 forms, one for each student? If individually, will I need to use their own PINs on each? I could probably figure this out once I'm into the actual form, but I'm trying to determine now if I need to request a PIN right away for daughter. Thanks!</p>
<p>You need to do a FAFSA for each of your college bound students (a different one for each). Parent uses the same PIN on both. Each student needs their OWN PIN. You do two separate forms...each student puts their own financial information onto their FAFSA, as well as the parent info. Yes, your daughter needs a PIN....that is how SHE signs her FAFSA (she can't use her brother's "signature").</p>
<p>Hello again,</p>
<p>I'm filling out the Profile and plan to include the schools to which D has already submitted her application and has been accepted. She is mailing off a few more applications the first week in January. Should I include those schools as Profile recipients already, or amend the Profile to add them after they've received her application? I kind of hate to hit them with financial aid matters before they've even received her application and realize how much they want her. ;-)</p>
<p>I'm responding with my own experience...hoping someone else has a better scenerio than mine..</p>
<p>Just remember that you cannot amend the Profile online like you can the FAFSA. Schools have their own procedures for sending changes to the Profile. We submitted a Profile in November 2005 for DD. The rest of her schools didn't need it until February. So...what we had to do was submit (via the college board...oh yes and pay) the November Profile as completed (did that for the additional schools in Feb), and then DD's colleges asked us to print out the submitted profile and handwrite the corrections on that form and send it to them. It was a pain. Bottom line is that you will be submitting what you put into the Profile NOW regardless of where you decide to send it today. Unless someone else on this forum has a better plan...</p>
<p>Just filling out the fafsa now and was wondering if there was any consequence to putting my checkings/savings in my little brother's name b/c he won't be going into college until I graduate. I have quite a bit of hard-earned money that I don't want the gov to look at. Any thoughts???</p>
<p>Well-- hiding assets in that manner might be fraud, so I wouldn't do it. You'll have interest 1099's on record for your savings accounts, and that will raise a red flag if you show no assets (aside from the ethical argument).</p>
<p>Consider spending down on necessary college expenses before filing FAFSA, or legally sheltering some of these assets in a 529 college savings vehicle that can be assessed as a parental asset, since they have an asset protection allowance, and also get assessed at a much lower rate.</p>
<p>I didn't mean all of it, but just enough to lower my assets. There is very little interest because most of it is in a checking account, and most of it wouldn't show up as earned money on a W-2 because it was either from stuff like babysitting or gifts from family. And apart from that, I am not worried about the "ethical" part of the argument because the gov. taxes enough and I'll be eligible for very little anyway. To be honest, I think the whole system is kinda unfair. My parents pay one of the highest rate of taxes and we get absolutely $h!t back!!!!</p>
<p>Well if you don't care about the 'ethical' part (which is a sad statement) you do need to consider the legal aspects. Lying on FAFSA is - not might be - is fraud and can lead to rescinded college offers at the very least and prosecution at the other end of the scale. From FAFSA:</p>
<p>
[quote]
WARNING: You must fill out this form accurately. The information that you supply can be verified by your college, your state, or by the U.S. Department of Education.</p>
<pre><code>You may be asked to provide U.S. income tax returns, the worksheets in this booklet and other information. If you can't or don't provide these records to your college, you may not get Federal student aid. If you get Federal student aid based on incorrect information, you will have to pay it back; you may also have to pay fines and fees. If you purposely give false or misleading information on your application, you may be fined $20,000, sent to prison, or both.
[/quote]
</code></pre>
<p>and from the finaid website:</p>
<p>
[quote]
A good rule of thumb to follow is: If a reasonable person would feel uncomfortable telling a financial aid administrator about using a strategy, don't use it. For example, a reasonable person would not have a problem with advice to pay off all credit card debt, but would definitely have problems with advice to provide false copies of income tax returns or to transfer assets temporarily to a relative.
[/quote]
</p>
<p>Plus, if your parents are paying one of the highest rates of taxes, I would guess your EFC will be pretty high so any aid will probably be in the form of repayable loans rather than grants.</p>
<p>hm, the only way this would work is if you actually gave the money away with no understanding it will be given back. Like if you gave it to the United Way, except you gave it to your brother instead. Really. And no one would believe it anyway if it got questioned, so be ready for that.</p>
<p>Have you thought about putting some of your savings in an IRA? You can still do that now in 2007 for 2006 earnings as long as you have not filed your tax return yet. That gets the contributed amount out of the FAFSA assets and is perfectly legit.</p>
<p>Heck-- if you don't care about the ethical/legal argument, you can just rob a bank, forge checks, or sell drugs to pay for college. The future leaders of America.</p>
<p>Reply to both messages:</p>
<p>First of all, I am trying to do it as legally as possible. That is why I am asking for advice. I don't care what is 'right' as long as what I'm doing is not illegal. Do either of you honestly believe that I would want trouble with the government??? And to "swimcatsmom"... no, I don't feel guilty about telling a financial aid administrator about it. They themselves know that such a high percentage of a student's contribution is unfair- I've spoken to the financial aid person in my college already and they agree. And handing in an account that has been withdrawn for the most part isn't dishonest- I will be handing in an up-to-date, legit bank statement. Who cares where the money has gone, really? Are there any rules about moving around money? The IRA thing is interesting though... but would I be able to have immediate access to it? I also have bank accounts in Europe. Would it be wise to declare those even if I have no idea how much is in them?</p>
<p>sblake7- I didn't mean it in the sense that I would do anything illegal, but I just don't care what's morally right or wrong or unfair</p>
<p>It is interesting and amazing that that the FAO at the college thinks it is ok. I think it probably is illegal - is it really worth the risk? The only drawback with the IRA idea is you said most of the money is from non-taxed income? I believe IRAs contribution have to be earned income that tax year. There are ethical ways to approach this - for instance are there any expenses coming up that you can pay for now rather than later - computer etc? I don't disagree that the % taken from the students assets is disproportionally high and probably unfair. But it is what it is - I don't like the speed limit on the road to my house either - doesn't stop me from getting a ticket if I break it.</p>