How much fin aid could you qualify for with about $120k a year income?

[alamemom]

<p>Hi Emily,</p>

<p>Based on the age you list of your profile, 17, I am assuming you will be a 2012 freshman applicant. In January, 2012 applicants will fill out the 2012-2013 FAFSA and CSS/Profile, which will ask for you and your parent’s income from 2011<a href=“not%202010”>/U</a>, and your assets as of the day you submit the forms.

If your parents . . .
are divorced or separated: Provide information from your custodial parent’s 2011 federal tax return. If your parents filed jointly for 2011, submit information from that return. If your custodial parent has remarried, submit information for him/her and your stepparent.

[USC</a> Financial Aid - Applying & Receiving Financial Aid - Undergraduate - New Students](<a href=“http://www.usc.edu/admission/fa/applying_receiving/undergraduates1/newstudents.html]USC”>http://www.usc.edu/admission/fa/applying_receiving/undergraduates1/newstudents.html)</p>

<p>In the case of divorced parents, the parent you list on the FAFSA and CSS/Profile is the parent with whom you live the majority of the time. Child support payments and alimony payments are added to income.</p>

<p>You will also submit a Custodial Parent form. USC does not require a non-custodial parent form, but may request additional info later if they feel they need more information about a family’s financial situation.

Custodial Parent Form
Submit the 2012-2013 USC Custodial Parent Form, with appropriate documentation, to the Financial Aid Office. For document submission instructions, visit [USC</a> Financial Aid - Contact Us](<a href=“http://www.usc.edu/contactfao]USC”>http://www.usc.edu/contactfao).</p>

<pre><code>Completing this form is required only if your custodial parent is currently single, divorced, separated, remarried, or was never married.
USC does not require the CSS Non-Custodial Parent Form.
USC will determine an expected contribution for the custodial parent, the non-custodial parent, and the stepparent, as appropriate.

</code></pre>

<p>Your timetable:

1. Purchase the book, “Paying for College Without Going Broke, 2012 Edition” It is available from Amazon for $10.91 and will be the best $10.91 you will ever spend. You and your parent should READ it cover-to-cover.
2. Discuss with your parent(s) how much they can contribute to your education. This may be less than the colleges determine they can contribute, so be prepared to start looking for schools that guarantee scholarships for your qualifications, or that you can afford without aid (commuting to a nearby state school, for example).
   3 Develop a list of colleges that includes FINANCIAL safeties - one or two schools you know you can afford and that you are WILLING to attend.
3. Remind your parent to file taxes as soon as possible next year to meet financial aid deadlines. You and your parent should apply for a PIN for FAFSA in December and start working on the 2012-2013 FAFSA and CSS/Profile the first week of January to give plenty of time to figure out what information is needed.
4. Submit the FAFSA and CSS/Profile by the last week of January.
5. Make corrections to your FAFSA after your 2011 taxes are filed.
6. Submit copies of parent and student tax returns by March 2, or as soon as possible thereafter. Financial aid packages will NOT be presented until you and your custodial parent tax returns have been submitted.</p>

<p>Last, and most important, remember that USC’s financial aid office is flexible, responsive and very helpful. They will not always be able to provide the aid that makes it possible for an individual to attend, but they will listen to and consider special circumstances - especially if they are presented factually, clearly, and respectfully.</p>

<p>Good luck!</p>