IDOC Business Supplement

Paying for College
1

<p>I am currently applying for financial aid as a prospective freshman. In my CSS profile, I have clearly stated that my parent owns a corporation and holds 100% ownership of it, but the IDOC does not seem to be requiring a Business/Farm Supplement from me (it was not included in the required document list). I called the IDOC services and a representative told me, after checking my IDOC account, that IDOC indeed does not require this supplement from me, but individual colleges that I am applying to may have such requirements.</p>

<p>So then I checked Harvard's financial aid instructions, which states that "If either of your parents is self-employed or owns a business or farm, s/he will need to submit a Business/Farm Supplement for each business or farm in which any interest is held...Once completed, send all of these materials to the College Board's Institutional Documentation Service (IDOC) along with your personal tax forms."</p>

<p>Now I am confused - IDOC does not require this supplement, but Harvard (as well as other colleges) does and asks me to submit it through IDOC?</p>

<p>It gets even more confusing when I called Harvard's undergraduate financial aid office, and a representative told me Harvard has its own business/farm supplement - one that's completely different from the College Board one. However, I looked through the "forms and publications" section of the financial aid website and the only such supplement there is the same as the College Board one!</p>

<p>Help!</p>

2

<p>IDOC itself doesn’t request anything specifically. What you submit to IDOC is determined by what the schools want. Use the CB/Harvard supplemental and add it to your list of stuff to send to IDOC. It’s pretty typical for anyone self employed. </p>

<p>HTH.</p>

3

<p>Thanks crazymomster!</p>

4

<p>Just a follow-up question - My FAFSA EFC is 60K+. I have completed CSS profile and IDOC is asking for business suppliments. I have several partnerships and S Corps with small stakes (5%) and it will be a lot of paper-work to fill-in.</p>

<p>Is there any benefit in completing the paper work knowing the EFC ? DD has applied to Duke and Emory who are asking for IDOC paperwork.</p>

5

<p>Duke and Emory require that information, it’s not really optional unless you are willing to risk not receiving a FA offer. I know some have plans to wait for decisions, but that’s risky. Perhaps call those schools and ask if they would be willing to wait for that paperwork. You’ll have to submit it eventually anyway if either is the intended school of attendance.</p>