<p>It’s in another city. </p>
<p>It’s a difficult situation to explain. I ran an EFC calculator and I put the value in at 90k (that’s the higher end for homes in that area. Hard to believe considering where we live now!). That would only raise the EFC to like 2000, but it takes away most of the Pell. 2000 is doable, but nothing else really.</p>
<p>I don’t know.</p>
<p>A kind poster just PMed me and told me that because I get free lunch, I would be eligible for a simplified needs test in which they don’t consider assets. Is this true? If so, with a family income of well under 20k, I’d still have a 0 EFC.</p>
<p>I was wondering why it skipped over parents assets on the FAFSA Forecaster. I used another site to get the previously mentioned 2000.</p>
<p>This is all so confusing!</p>
<p>I was wondering why it skipped over parents assets on the FAFSA Forecaster. I used another site to get the previously mentioned 2000.</p>
<p>Only 6% of homeowners own a 2nd home, possibly why FAFSA forecaster didn’t take that information into account</p>
<p>The forecaster does not take into account a lot of situations that are not typical. In order to cover things that are not mainstream, you might as well fill out the true FAFSA. That’s why those estimators can be off by a lot. Families often have some asset or situation that can bring down the whole dang premise for aid.</p>
<p>Your rental house is such an example. I know that it isn’t giving your any income. But you could sell it for something. For what, I don’t know and neither do you until you do it. So, that is taken into consideration and you are in line behind those who do not have such assets. It is only fair. It is not anyone’s problem other than yours and your family’s that your mother has not sold the danged thing for something, anything, or has not made any money from its rental. If it is truly worthless, than prove it by putting in on the market, and reducing the price until it does sell. Right now it is an impediment in that it keeps you from getting as much PELL money. </p>
<p>As Emeraldkity4 wrote, you are in a minority having such a property.</p>
<p>To qualify for the simplified needs test the parent income must be below $50,000 and and you must also meet one of the other criteria listed below, such as the parents are eligible to file a 1040A or 1040EZ or anyone in the household received means tested benefits such as free lunches etc. Under simplified needs assets are ignored.</p>
<p>To qualify for the automatic 0 EFC the parent income must be below $30,000 and and you must also meet one of the other criteria listed below, such as the parents are eligible to file a 1040A or 1040EZ or anyone in the household received means tested benefits such as free lunches etc. Under the automatic 0 EFC you get an automatic 0 EFC. Assets are ignored and also any student income is ignored.</p>
<p>It sounds to me like you will qualify for the automatic 0 EFC.</p>
<p>You must meet income requirements and the following:<a href=“1”>quote</a> Anyone included in the parents’ household size (as defned on the FAFSA) received benefts during 2008 or 2009 from any of the designated means-tested Federal beneft 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
the 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)1
or the parents are not required to fle
any income tax return; OR
the student’s parent is a dislocated worker.
[/quote]
</p>
<p>So it is OR and not AND?</p>
<p>It is the income requirement (>$50k for simplified needs, >$30k for auto 0 EFC) and one of the other requirements. So the other requirements are all OR.</p>
<p>If you meet the income requirement and the tax return requirement you qualify.
or
If you meet the income requirement and the means tested benefit requirement you qualify.
or
If you meet the income requirement and the parent dislocated worker requirement you qualify.</p>
<p>So I do qualify for the Automatic Zero.</p>
<p>I’ve probably said it three times in this thread, but this is confusing! Thank you for the help, Swimcatsmom!</p>
<p>You’re welcome.</p>
<p>One caveat - there were some rumblings about a change in FAFSA for 2011-2012. As far as I know that will not change the auto 0 or simplified needs test rules but the changes have not been published yet (if they are happening) so who knows. I am sure the Govt. will let us know on a timely basis - like next March or something :rolleyes:</p>
<p>It is pretty tricky- the simplified needs test claims to not count assets.
Ok Fine.
But then it goes on to say if you file itemized deductions- you are not eligible for simplified needs.
I imagine if you have a property that is being taken as a loss or even with $1 mo income, that your mom would itemize her taxes.</p>
<p><a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/625690-fafsa-simplified-needs-test-question.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/625690-fafsa-simplified-needs-test-question.html</a></p>
<p>They only have to meet one of the criteria in addition to meeting the income limit. So if someone in the family qualifies for one of the listed means tested benefits or is a dislocated worker then they can qualify even if they file a 1040.</p>
<p>These are the rules from the current EFC formula. The link in post #30 is an old one and shows the rules before the additional criteria of means tested benefits and dislocated worker were added.
<a href=“1”>quote</a> Anyone included in the parents’ household size (as defned on the FAFSA) received benefts during 2008 or 2009 from any of the designated means-tested Federal beneft 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
the 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 fle any income tax return; OR
the student’s parent is a dislocated worker.
AND
(2) The 2009 income of the student’s parents is $49,999 or less.
• For tax filers, use the parents’ adjusted gross income from 2009 Form 1040A or 1040EZ
to determine if income is $49,999 or less.
[/quote]
</p>