<p>When completing the FASFA since I am a dislocted worker with no earned income in 2013 I am not required to put assets down or include my childs assets or income on FASFA because of the automatic parents zero efc. I did complete the parents irs data retieval. The college sent me a letter requesting that the child complete the irs data retreiveal tool but its not on the screen FASFA screen or an option. Only way I can get it to appear is to answer the parent questions about assest and untaxed income, which the college is not supposed to use, when dislocated worker. FASFA says enter zeros in the blocks (untaxed income) in order to get to the irs data retrival tool. I dont want this to be consideried lying. I was thinking of asking the college to verify with tax transcripts but fasfa is saying the fasfa filing must be completed with parents and students irs retrival or ther will be an error. Just cant understand why FASFA gives the parents the option of not reporting assests then? How does this help a parent who has no earned income as a dislocated worker and living off savings for a year or two?</p>
<p>The issue is actually that you have an automatic 0 EFC. In this formula, student income is never considered at all. For this reason, you are not given the option of using the DRT. Call the school to find out how this should be handled. They may ask that he submit their internal non-tax filer form.</p>
<p>Thanks for the info it got me started in the right direction. The school was no help. After 3 fasfa reps…they said request a SAR report to be mailed (not the pdf), make the correcttions to only 5 questions about the student filing status and then mail it back. Wait about 3 weeks and then give the school a tax transcript for the student. This is the only way the school wont consider assets. Ill keep you posted. </p>
<p>I strongly suggest not handling it this way. Paper corrections take forever to process and can pose problems for the school if updates are needed. The bottom line here is this: Find a manager in the aid office who can tell you what the school’s policy is in your case - they may waive the requirement; or call the IRS and request his tax transcript. Both suggestions are better than what the FAFSA rep suggested.</p>
<p>Ok.and thanks for the great info. I havent done anything yet and fasfa says the fasfa 2014 is all set. We are jsut missing the childs irs data retrieval info and now I see we can get the tax transcripts online. We called are number one choice school Friday and they said the will isssue an award letter, but assuming they will want irs data retrieval on both the parents and students like the school posted above, which is our number 2 school.
I will wait to do anything until #1 school lets me know what they want and may waive the requirement like you suggested. I will recontact number 2 school once I have my childs irs tax transcripts. Can you tell me what you mean by school updates? What type of info would get updated? tax numbers? or aid input from the school?</p>
<p>When a school verifies a student’s file, they sometimes have to make changes - people do their best to fill out a FAFSA correctly, but lots of times verification shows minor mistakes & the aid officer has to correct them. If your son filed taxes, you can go ahead and order a tax transcript now, in case you need it - you can actually get it online now! <a href=“Get Transcript | Internal Revenue Service”>http://www.irs.gov/Individuals/Get-Transcript</a>. If he was not required to file, there is an option to select a verification of nonfiling letter.</p>