<p>Some schools also request a Profile and info thru IDOC. These are mainly private schools. UF is a state school so they are more than likely fafsa only. You can check thier financial aid web page to see what forms they need.</p>
<p>Alright, thanks kela.</p>
<p>Because my sister has free lunch I called my dad and asked what income amount he reported on the student lunch form thing and he said he did not report the income from the other house…so should I still say I have free lunch? I don’t know if they’ll check and then see that the incomes were different on the FAFSA and the student lunch form.</p>
<p>Also, how much asset protection are we going to have if my dad is 48? The 5.6% EFC only accounts the asset value not covered by the asset protection?</p>
<p>If your parents are married and your dad is the older of the 2, their total asset protection allowance is $46,200. If you don’t qualify for the simplifed EFC formula, FAFSA will ask you if their assets exceed that amount. If you answer no, then you will not see any more parental asset questions and their assets will not be assessed toward your EFC at all. Only assets in excess of the $46K will be subject to the 5.6%.</p>
<p>Ah okay, that’s what I thought. What about the lunch thing I mentioned? Should I say yes to free lunch? </p>
<p>Also, where do I put the income from the house on FAFSA? I only saw AGI and parent earnings from work. Didn’t finished though cause I had to leave home.</p>
<p>What do I put for Selective Service? I haven’t registered but I read that if I put no it slows down FAFSA processing.</p>
<p>If you’re not 18 and have not registered, answer no to the Sel Service question. It will then ask if you’d like them to register you. Answer yes. If you’re 18 and haven’t registered, you will not be eligible for federal student aid. It does not slow down the processing of FAFSA.</p>
<p>Net rental income is included in your parents’ AGI. There is no separate question as none is needed. If you or anyone in your household has received reduced/free school lunches in the last 2 calendar years, you answer yes to that question. There are no trick questions on FAFSA…just answer them honestly and follow the instructions in the sidebar!</p>
<p>Okay thanks for the SS info!</p>
<p>Well is the AGI supposed to be significantly lower than the income? Our combined income is like 40k but I was on the phone with my dad and he said the AGI was different and way lower. The AGI on the 1040 form accounts for the net-rental income? So I just copy what it says on Line #37?</p>
<p>Yes we have had free lunch but the problem is that my dad doesn’t report the net rental income on the lunch form and he does on the taxes. So the income will be like a 10k$ difference when comparing the forms. Is that bad?</p>
<p>Yes, it’s possible that your dad had a net loss on the rental property (or another type of loss) which would reduce his AGI. Not unusual at all with investments.</p>
<p>The other question is unanswerable…first, no one is actually going to compare forms. I doubt the apps for school lunch even leave the HS. Whether or not your family should qualify isn’t something we can determine…that is the HS cafeteria/administration’s call and they’re trained to make those decisions. I don’t know what types of income (gross vs AGI vs taxable) are used/considered for the lunch program and assume they verify some/most of their applicants through tax returns or independent sources. </p>
<p>FAFSA wants to know if anyone DID receive benefits…your parents applied and their application was approved. I’d probably just answer the question as asked without reading anything more into it and let it go at that.</p>
<p>iSenior, relax. You are over thinking things. Just answer the questions honestly, as sk8rmom suggested. The FAFSA tells you which lines on the 1040 to use for each question. That’s what they want … nothing more, nothing less. It’s not so bad!</p>
<p>As for the worth of the rental home, your dad should be able to determine a market value. Most people have some idea of what things are selling for. He can contact a realtor in the area if need be, to help him figure out a realistic price.</p>