<p>I got into Northeastern and they gave me my aid offer. I could def. go w/ this offer. But I was asked to send in my 2005 tax returns and i did. Now I'm freaking out because my dad got a bonus of about 7k in 2005. These bonuses are random. Does this mean that my aid offer will decrease significantly (meaning by more than 5k)? Please help! Wats going to happen?</p>
<p>I'm assuming that you had to submit your FAFSA EFC for them to determine your aid offer...If that's the case then shouldn't that already be settled, considering you'd have already filled in all appropriate information? The tax returns would all be used for verification.</p>
<p>If your taxes show income that's 7K greater than the figures the school relied upon to calculate your EFC, they will probably adjust your FAFSA data to recalculate your EFC. It will go up, some but probably not more than a couple K, depending on your parent's income. I'd either either call them or include a note explaining the discrepancy, so they don't think you were trying to pull a fast one.</p>
<p>I estimated my FAFSA w/ 2004 tax returns. I'm gonna correct it online today w/ the 2005 numbers. So my aid offer is tentative until they review it w/ those numbers.</p>
<p>When you update FAFSA, change the box from 'will file taxes' to 'have filed taxes' and that should finalize your EFC, so the college can finalize the aid offer. You'll see the EFC go up a bit.</p>
<p>also, is this a bit too late to be correcting my FAFSA?</p>
<p>boy, ur fast sblake 7..hehe..thanks!!</p>
<p>Sure thing. Good luck! :)</p>
<p>No, not too late at all- lots of people just now finishing taxes and updating FAFSA with '05 numbers. Colleges expect the changes around this time.</p>
<p>thanks again sblake. (didnt want to waste the message space..lol)</p>