I have googled and looked and see many different answers. I file taxes but don’t pay because the amount I get is still under taxable amount. I also have an untaxed private disability policy and my twin high school seniors get ssd paid to them from my award of ssdi and I use that money to help support them.When it asks for income do I put in my social security disability income or do I just list that and my private policy under untaxed income.Do I list my childrens as income or untaxed.If added all together it is approx 46,000 will that affect my daughters ability to get financial aid? I’m so confused and so scared to do anything wrong.My daughters also have approx 7,000 each from an inheritance that I put in a 504 in my name.And if not and financial aid is awarded at lower amount then what happens when I fill out other for (?CRC) and I’m told that asks more info I rent and have no assets.Thanks in advance for any help
Since we don’t have any idea where your daughter is applying to college…it’s impossible to tell you what an income of $46,000 a year will do for her financial aid chances.
That ties into my question since i don’t know if they will count my social security disability and of that 46.000 that includes the 12.000 my daughters get which will stop at age 18 which for them will be before they get into college.One daughter ACT 27 other daughter ACT34 and gpa’s that are w3.9 and w4.7.They will apply for California state schools and some mid to large size private schools
With even $46,000 income, if you are a California resident, your kids should be eligible for the Calgrant.
Read up on that…