<p>hi
i am a single mom with an agi of 30k for 2009, i have multiple savings accts which I managed to save from my divorce. when i filled out my fasfa yesterday it said nothing about simplified needs and today is the first i have heard of it. did i mess up already? i am very worried about how to pay for my d school. she was accepted and has reserved a spot already?
should i contact the school or wait? what should i do next?
help please.</p>
<p>To be eligible for the simplified needs test or the automatic 0 EFC you have to meet income requirements (<$50k for simplified needs and <$30k for automatic 0 EFC) and one of the following criteria:
<a href=“1”>quote</a> Anyone included in the parents’ household size (as defined on the FAFSA) received benefits during 2008 or 2009 from any of the designated means-tested Federal benefit programs: the Supplemental Security Income (SSI) Program, the Food Stamp Program, the Free and Reduced Price School Lunch Program, the Temporary Assistance for Needy Families (TANF) Program, and the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC);
OR
he student’s parents fled or are eligible to fle a 2009 IRS Form 1040A or 1040EZ (they are not required to fle a 2009 Form 1040)
or the parents are not required to file any income tax return; OR
the student’s parent is a dislocated worker
[/quote]
</p>
<p>You must meet both the income criteria and one of the other eligibility criteria to qualify for simplified needs or the auto 0 EFC.</p>
<p>If you qualify for simplified needs your assets are ignored in the EFC formula. If you qualify for the automatic 0 EFC then your EFC is automatically 0 ,</p>
<p>thanks
one moree question. i filed a 1040A i do not meet the other things, my d would qualify for free lunch but i did not ever fill out the form or receieve the benefit?</p>
<p>You don’t have to meet all of them. It is the income and one of the other criteria. If you filed a 1040A and meet the income criteria then you should have qualified. What was your EFC?</p>
<p>2859
do not real understand this number. her school is 32k and she will get 8k based on her grades, where will the rest come from? her father is not in the picture.</p>
<p>i forgot to say that i did list my assets from savings but not retirement, i lost my job two years ago but rolled my 401k and am now working three cruddy jobs to earn 30k so i can keep my house.</p>
<p>Where and if the money is coming from will depend on the school. Do you know their aid policies? If it is one of the few schools that promises to meet need without loans then your full need should be met with no loans. If it is a school that promises to meet need but includes loans then your full need should be met but will included loans. If it is a school that does not promise to meet need then your need may not be met.</p>
<p>EFC stands for Estimated Family Contribution, but it is really a misnomer as some people find they have to pay a lot more. In reality it is a number used to determine need and to determine eligibility for certain financial aid. If the school’s COA is $32,000 and your EFC is 2859 then the “need” will be $29,141. The $8k Scholarship will reduce the need to $21,141. With a 2859 EFC for federal grant aid she will be eligible for @ $2700 in Pell grants and possibly $750 in ACG (if she meets the academic requirements). Other than that for federal aid it would be loans and possibly work study. Any other grant aid would depend on if the school offers institutional grant aid.</p>
<p>You are not supposed to report retirement accounts so that is fine.</p>
<p>2859 seems a little higher than I would have expected for a $30k AGI.</p>
<p>
</p>
<p>What does this mean? Did you leave your 401K monies in a 401K account of some type (rolled it over into an other 401K or TSA?)?..or did you roll it over into a regular savings?</p>
<p>BUT it shouldn’t matter. If your AGI from last year (2009) was less than $50K AND you filed a 1040A for 2009…your assets should not have been required at all on the FAFSA.</p>
<p>What school did your D get accepted to? Is it a private? Did it require a CSS Profile with info about her dad?</p>
<p>Is it an out of state public?</p>
<p>she is going to Johnson and wales in charlotte nc. The school and the fasfa asked nothing about her father. He has no impact on the financial situation. my 401k was rolled into another annuity account which I can not touch until 591/2.?</p>
<p>my d does have good grades which is why she will get 8k in merit money, she will be in their honors program. what is the acg?</p>
<p>ACG is the academic competitiveness grant. it is a federal grant that requires Pell eligibility and having completed a “rigorous secondary school program” as defined by your State. There should have been a question in FAFSA asking your daughter if she completed such a program. It is $750 for freshman and $1300 for a sophomore (though I believe it is scheduled to expire after this upcoming school year).</p>
<p>According to this Johnson and Wales only meet an average of 66% of financial need. Does your daughter have other options if the FA package is not sufficient to attend?</p>
<p>[Johnson</a> & Wales University Tuition, Costs and Financial Aid - CollegeData College Profile](<a href=“http://www.collegedata.com/cs/data/college/college_pg03_tmpl.jhtml?schoolId=1403]Johnson”>http://www.collegedata.com/cs/data/college/college_pg03_tmpl.jhtml?schoolId=1403)</p>
<p><a href=“College Search - BigFuture | College Board”>College Search - BigFuture | College Board;
<p>So, does she she need to fix her FAFSA since her assets should get ignored because of the 1040A? </p>
<p>And, then she’ll have an auto 0 EFC?</p>
<p>*her school is 32k and she will get 8k based on her grades, where will the rest come from? *</p>
<p>You need to contact the school and ask about what kind of aid you can expect. As swimcatsmom noted above, J&W doesn’t meet need, so your D’s FA package could have a big gap in it. If it has a gap, what will you do?</p>
<p>Did your D apply to any other schools? Did she apply to a financial safety school?</p>
<p>no she did not apply anywhere else so if there is a gap i will have to contine to work 80 hours each week to pay for her school. i know there are some who will say i am crazy, but i feel like my staying with my husband as long as i did was BAD for my daughter. so i feel like she has had enough pain life. she needs to be far far away from my ex and i will do whatever i have to.
do i ave any next steps? would you guys recommend that i call the school and talk to the financial aid people or do i wait to hear from someone?
who will tell me what is what and when?
do i need to refile my fasfa? i still do not understand why they asked about assets if i met the simplified needs?
uggh</p>
<p>We are always asked about assets even though we qualify for the automatic 0 EFC. My understanding is that it depends on your state of residence whether you are allowed to skip the questions or not. I have never understood why our State would require it as the small need based State grant is just based on the EFC.</p>
<p>What would you change you refiled your FAFSA? The only point of refiling is if there is something to change.</p>
<p>
Simplified needs does not guarantee a 0 EFC. Simplified needs ignores assets but that does not mean the EFC is 0. It is the automatic 0 that guarantees the auto 0 and that requires an AGI under $30k.</p>
<p>no she did not apply anywhere else so if there is a gap i will have to contine to work 80 hours each week to pay for her school. i know there are some who will say i am crazy,</p>
<p>:)</p>
<p>Well, for both of your sakes, I dearly hope that they give you some great aid!!!</p>
<p>thanks soo much for answering my questions. I found out today that there is an issue with the sale of my house. This only thing has been a huge lesson in letting go and remembering that things happen for a reason. I have to let go and see what unfolds . . . I am very grateful for all your help!</p>