I received my FAFSA student aid report about a month ago and this is my last ditch effort to figure out what’s going on. My family makes a combined amount (on paper) of around $70k. Now this isn’t completely accurate, as my dad is in the National Guard and full-time Army, so only a portion of his income is taxed. Even then, we do NOT make a lot of money.
My Estimated Family Contribution from FAFSA was 40935, which means I do not qualify for any government grants (Most notably, the Pell Grant). We do NOT have almost any assets, rather than 3 vehicles. There is an obvious mistake here, and I am wondering what steps I need to take to fix it.
@kelsmom is amazing and can hopefully help you understand what’s going on
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EDIT TO ADD
I do gave a GI Bill in my name passed down from my father. I did not mention it in the FAFSA application, nor have I contacted my chosen school to activate it, as there is a certain day I am supposed to go to campus and figure it out.
Thank you! I will check them out.
Did either of your parents have a retirement account rollover in 2021?
Did they use DRT to import their tax information into FAFSA?
Have you checked your FAFSA SAR line by line and compared with tax return and other financial information?
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It sounds like something was reported incorrectly, for sure. First step, ask your parents if they had a rollover (retirement account funds) in 2021. This is a common culprit, and it can be fixed (by the school).
You should look at your FAFSA and compare it to the tax return line by line, as suggested (or ask your parents to do it).
Check to see the amount of untaxed income reported on the FAFSA. That may have been reported incorrectly, since that’s done manually. Can you let us know what the amounts are under parent untaxed income?
Let us know what you find & we’ll go from there.
An old problem, which I haven’t seen lately was putting in an asset and missing the decimal point, like a bank account balance of $1000.00 as $100000. Just go thru and check every entry.
You might not get a Pell grant. It depends on total family income, size, etc.
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