<p>If my dad (noncustodial parent) made a mistake on the Non-Custodial PROFILE, will my financial aid package be drastically affected?
He put that he was the manager of a store, but in fact he is the owner.
PLEASE HELP ME :)</p>
<p>I think its fine as long as the income is correct.</p>
<p>okay thank you!</p>
<p>When he said that he’s a manager of a store, then it would suggest that he only draws a salary. But as the owner, he would be providing different numbers. What did he do?</p>
<p>I disagree that it should be OK if he used the correct income on the Profile. As OWNER, he has to account for much more than his take-home income from the business. Business owners are NOT the same as an employee as far as Profile schools consider “income”. Search this forum for the many threads discussing how business owners are treated differently for aid at CSS Profile schools.</p>
<p>Was this a “mistake” or that he didn’t want to admit to owning the business for aid purposes? Either way, let’s say you go to that school with need-based financial aid and they later find out your aid application was incorrect/fraudulent. You’ll be in a heap of trouble both with the school and financially. Many Profile schools require copies of tax documents, so they’d catch the discrepancy when reviewing your docs - or worse, later on after you’ve committed and are maybe attending the school.</p>
<p>I think you need to correct this ASAP.</p>
<p>I agree it’s NOT fine and needs to be corrected. Business owners complete different schedules on their taxes. This needs to be shown. As noted, businesses have assets, and a value that someone who is an employee only would not need to declare anywhere.</p>
<p>While I agree there is a big difference between manager and owner, and it should be reported to the schools, if all of the appropriate tax documents are submitted,and the rest of the Profile information is entered correctly.</p>
<p>If he listed his business assets, and sends his schedule C or business return to the school or IDOC, it shouldn’t matter much in terms of the aid offered. Did he claim to be the manager, and only list his personal assets, or did he provide the business information, and just use the wrong title?</p>