<p>I have a question on the part of the FAFSA where it asks for Student Fiances such as tax return, investments, etc. </p>
<p>I am a student who is fully dependent on my parents financially and have no job or other source of income. I have not filed a tax return because I have no income. How should I answer the questions in this section? </p>
<p>Also, there is another question asking about interest in work study and student loans. Would answering interested in both affect how much financial aid that does not need to be paid back that I receive?</p>
<p>
If you have no income put 0. If you have no assets (no bank account or anything), put 0.</p>
<p>
No. Grant money is limited but you are awarded what you qualify for based on your EFC. Then you are awarded loans and/or work study. If you have enough need to qualify for both you will be awarded both. If you do not have enough need to be awarded both then it depends on your need and your school’s policies and availability of WS. At my daughters school she gets all the grants she qualifies for, then the maximum WS, then loans. At my son’s school he was awarded the grants he qualified for and then loans. Was not offered any WS.</p>
<p>If you say no to loans and/or WS they are not going to give you extra grants to compensate. You will just be short the amount of money you would have got in loans or grants.</p>
<p>If you are offered WS and no or little loans you may, depending on the school, be able to convert the WS to a loan if you feel you do not want to do as many WS hours or cannot find a WS position. My daughter did this with part of her WS her freshman year. This year she took the full WS ($3400 at her school) and very little in loans. Looks like she will earn the full WS award this year.</p>