Financial Aid questions

Paying for College
1

<p>My father and I are trying to figure out what to do:</p>

<p>We have had about $60,000 income from my mother and father combined last year (2003) but since then we've lost my mother's income and now my father has only made $44,000 this year. </p>

<p>The problem is that some schools that say I have to fill out the FAFSA and CSS profiles put a due date on them - the same date as regular decision deadline. If I HAVE to have this information in on those deadlines, it will be too early to use my father's 2004 returns and we'll have to use the 2003 ones, which puts us up a higher level, meaning I get less of the aid that I NEED. </p>

<p>What should we do? Do we fill them out now to meet deadline or just wait until we get our returns so that we can use 2004? </p>

<p>Or should I call each school's office and ask? Would the schools let me postpone sending my forms in? What could I do?</p>

2

<p>for the 2005-2006 school year you only use your 2004 returns
The profile is often an estimate and while you use the best numbers you can, you can submit updated numbers to the college later.
FAFSA you can correct with updated numbers even after you have submitted it.
Do not postpone it. This can effect aid. Do your best estimate now and then correct later.
Usually numbers will have to be verified anyway by enclosing signed copies of 1040 forms and W'2s</p>

3

<p>You fill out the forms by estimating 2004 income not using 2003. You then update after the official return is done.</p>