I'm really in need of some HELP!!!

Parents Forum
1

<p>I am trying to figure out what fafsa means by :
Parents' 2005 U.S. Income Tax Paid?</p>

<p>If my dad is self-employed.. does this include both lines (1040 forms) 57 and 58?
Meaning... I would actully be looking at line 63 which states: "This is your total tax".</p>

<p>This could really make the diff. between me getting the Gates (I have already been sent a letter telling me I will.. but... I still dont know if i will get the pell grant).</p>

<p>=-(</p>

<p>Thanks in advance.. I hope for the best.. but....</p>

2

<p>No, it just means the amount on the line that says "income tax". Disregard the "self-employment" tax.</p>

3

<p>I'm sorry but I dont see any "income tax" line... any idea what number that is, thanks?</p>

4

<p>Line 57. </p>

<hr>

5

<p>thanks.///....</p>

6

<p>Knowing that I will have to take some debt now ..... what would you say is good for 4 yrs... I am thinking 25k max total.. then I'm not sure how the loans will "expand"... so it might end up like at 30k? or more?</p>

<p>Is there any way to become "indepndent" while in college..</p>

7

<p>Anyone.....</p>

8

<p>I really dunno what would be best right now... </p>

<p>Stanford with ~30k loans after 4 yrs....( This is my guess, I still need to talk to the FinAid Off.) </p>

<p>New AGI is 50k or so... so if anybody out there who has a similar EFC and is gonig to Stanford could give me an idea of what I might get.. that would really help.</p>

<p>Apply to a Sschool with Rolling Admissions... for merit Aid.
Community College....</p>

<p>Or perhaps take a gap year.. since my brother will be attending college next year ( hopefully)... then I am guessing my EFC might go down enough then?... but not sure if its worth it to do that since I wont be getting the gates anymore anyways.. and I'm not sure if Stanford will allow me to.</p>

9

<p>It's REALLY tough to become an independent under FAFSA. Here are the requirements:</p>

<p><a href="http://www.fafsa.com/independent.htm%5B/url%5D"&gt;http://www.fafsa.com/independent.htm&lt;/a&gt;&lt;/p>

<p>Married OR
Grad student OR
Veteran OR
Provide >50% support for dependents OR
Orphan OR</p>

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<p>Work with the school's FAid office about your situation. They can allow "gap" year(s). When there are two+ undergrads in school at the same time, the EFC is adjusted for each child.</p>