<p>After filling out FAFSA and coming up with an EFC that exceeds $60,000 per year (! money saved in kid's name), why would I now send documentation to the colleges? I've gotten a request already from one school to send them our 2004 tax returns. Is there any reason why I'd bother? Thank you. ~ Cindy</p>
<p>no
I wouldn't unless there is a strong possiblity that they are going to that school and might be eligible for merit aid.</p>
<p>My daughter applied to 5 prep schools and one required her soc # for an aid package. SHe was a rising 6th grader, I told them that I would give it to them if and when she decided to attend, but since none of her other schools needed it, and since they would not budge on requiring it, that put them out of the comparision.</p>
<p>It seems like more schools and scholarship programs are requesting tax returns and/or social security numbers. With identity theft on the rise, I absolutely hate releasing any private data.</p>
<p>Tax returns - are used to verify/compare that the fafsa info is correct (there is actually alot of cheating going on in this process) - are used to verify/clarify that the student is actually your dependant - are used to verify residency (very common to audit residency qualifications of out-of-state applicants) - are used to qualify students for scholarships/grants that the fafsa may not indicate that they qualify for.</p>
<p>SS# - is used as the students ID - and is absolutely required for college applications/financisal aid process - you are required to put it on any/all correspondence to the schools financial aid/cashiers office also.</p>
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<blockquote> <p>SS# - is used as the students ID>></p> </blockquote>
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<p>NOT true. Many colleges are NOT using the SS number for student IDs anymore. However, we found that ALL schools required SS number for finaid purposes to verify taxes paid, etc. This was true even for merit aid awards. SS numbers are on your taxes and that is one way for the colleges to verify that the incomes earned are for the people who report them.</p>
<p>In New Jersey, just so happens in today's paper! (but tax returns are a different issue)</p>
<p>Colleges ending use of Social Security numbers on IDs
Sunday, February 06, 2005
BY KELLY HEYBOER
Star-Ledger Staff</p>
<p>The state's colleges and universities are ending the practice of using Social Security numbers to identify students on class rosters, grade postings and ID cards under a new law signed by acting Gov. Richard Codey. </p>
<p>Maybe more states will follow in NJ's direction. Earlier in the application process I was faced with my parents not wanting to disclose their SS#'s because of a problem my mother had with identity theft. I had to call the colleges where I applied, and most were understanding and said it was not necessary for the applications. However, it was a whole different story when it came to the financial aid. While they told me the final decision to disclose was ours, they said that verification of the reported information is a part of the process used to determine elegibility. Since they said that lack of SSNs could result in a rejection for the request for aid, my parents finally agreed to leave the SSNs on their tax returns. They haven't stopped worrying about it yet. </p>
<p>I did notice when I got my SAR that my parents SSNs were x'ed out, all except the last four digits. It made me start thinking maybe it would have been acceptable to white-out everything but the last 4 digits on the tax returns, and my parents would have probably felt better. Anyway, its done. Can only hope for the best at this point.</p>
<p>Weenie, call the financial aid office or whoever wants those returns and ask if there is any possible reason or benefit those things should be sent. The reason I say that is that at NYU , there are internship possibilities that are pretty hot open only to those who complete the financial aid process as my friend discovered when her D wanted one. Like you, she had started the process, and stopped when the family EFC was way high for any aid.</p>
<p>jamimom, Yeah, that was what I was worried about. He has applied for a merit scholarship at this particular school, and I was under the impression that it is not need-based at all. The only thing I can't figure out, is if it is need based, we're probably in trouble anyway, so I'm back to square one with the documentation. Anyway, accountant will not have tax returns done until who knows when...</p>
<p>weenie: I always questioned why a merit scholarship would require going through the financial aid process too, since they are not need-based. The explanation I've received is that they do this to confirm that you are in fact not need-based and do not qualify for any federal or state aid. Reason being if you did qualify for some type of fed/state aid, you would have to go that route first and the merit aid would be adjusted accordingly.</p>
<p>I'm just a student though, so your best bet is to follow jamimom's advice and ask the school to explain.</p>
<p>Fastlane, FAFSA is a clearinghouse for a bunch of stuff. In order to get government money, you have to have a certain citizenship status, be registered for the draft, your parents cannot be deadbeats from their student loans, you have to be working towards your first undergrad degree, and a number of other things. Even if the award is not need based, some agencies want this all verified and FAFSA the cheapest, easiest way to have the government put its stamp of approval on you. To get that EFC, you need to go through a check, even if you are not entitled to a dime, incomewise.</p>
<p>Weenie, start spending down the student money on his needs so that you are in better shape for aid next year or later down the road.</p>
<p>jamimom,
"start spending down..."</p>
<p>Yeah - we've figured that out by now!!! Yikes! :o</p>
<p>Yep, all that too jamimom. Thanks!</p>
<p>Fastlane and Jamimom are right on target. We were told that S might qualify for support from endowment funds but a FAFSA was necessary. I figured once they saw the EFC, he would not be in the running, but realized it is more of a way to make sure he wasn't entitled to other funding before they considered endowment funding. This happened at a school that wants the Profile as well as tax returns and W-2s, so we will dutifully submit them. </p>
<p>BTW, the Profile has a place to include a statement on special circumstances, but the FAFSA does not. We called to verify, and were told we could certainly submit a statement to the Finaid offices if we had special circumstances to be considered. We will do so although we do not expect to qualify for need based aid - since some scholarships have both merit and need components, we figure it can't hurt.</p>
<p>I called all of the schools where my D qualified for merit aid, just to confirm if they required the FAFSA, and all except our State U. said NO FAFSA was required. My concern was the same, will a highish EFC put her out of the running for merit-aid. But now I know that they would like you to get your money from Federal sources first.</p>
<p>The State u, which offers the least merit, requires the Fafsa, ofcourse.</p>
<p>We are also in the process of spending down all money in D's name. Maybe even buying a car, when the old clunker goes. I don't know if you can actually spend the money on airfares for college visits, or what the guidelines for UGMAs are.</p>
<p>Carnegie Mellon divides their merit money into 2 groups. One for traditional merit awards and the other for those who apply for financial aid but don't qualify for aid or not much financial aid. I'm not sure but they might target the second merit awards to families right near the edge of qualifying for aid.</p>