Worried about how much financial aid I might get?

Colleges and Universities A-Z The University of Texas at Austin
1

<p>My EFC is around 7k and our annual income is 69k. I am the only one in college and i have 2 siblings. That being said, i was selected for verification and my parents had to send in an amended tax return (on march 22) and i am so worried because i need to send in a tax return transcript in order to get financial aid from UT! but the IRS website said that might take 8-12 weeks to process our amended tax return so that's sooo long, im worried i wont be getting aid from UT due to the delay :(
I have a copy of our 1040X though, cant i just mail it to them? at least until i can get the official transcript? CASH said I can submit an "appropriate 2012 tax return parent response" so would that work?</p>

<p>If they received it on March 22, and it takes 8-12 weeks to process, that means I might not even know till the end of June! And not only that, but then ill have to request the transcript which takes another 2 weeks, then UT verification takes 3 weeks. So I might not even know about aid till August. this is worrying me beyond belief. :( all because of our amended tax return</p>

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<p>I’m on the same boat too. The system isn’t really organized, because the timing takes MUCH longer than they expect. All you can do now is just go in blind without knowing your aid. They have your aid package done, but they can’t release it until you send in the documents.</p>

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<p>Did an accountant send in the amended return for your parents? Have them make a copy of the return, have it notarized and send it to UT.</p>

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<p>With and EFC of 7K I suspect you will end up with only a loan package. Have you run basic numbers through a FA calculator? If you did, did you qualify for the Pell Grant? Based on what you have said I would predict no, but folks can have complex financial pictures. At UT if you don’t qualify for Pell you more than likely will not receive any state or institutional grants. They will offer you loans with a pretty bow on top.</p>

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<p>I called UT and they said they would ONLY accept the official IRS transcripts.
Aww that worries me so much, how I probably won’t get any state or institutional grants :frowning: that’s so worrisome, I did not get any pell grants sigh.</p>