filing-the-fafsa-2015-2016-edition

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Filing the FAFSA 83 legal requirement, such as a child support agreement, divorce decree or legal separation. Child support received outside of a legal agreement should be reported as untaxed income. Federal Means-Tested Benefits Received by Members of the Household in the Last Two Years This question asks whether anyone counted in household size on the FAFSA received certain federal means-tested benefits during either of the two previous calendar years (2013 or 2014). The benefits include: • Supplemental Security Income (SSI) • Supplemental Nutrition Assistance Program (SNAP), previously known as food stamps • Free and Reduced Price School Lunch • Temporary Assistance for Needy Families (TANF) • Special Supplemental Nutrition Program for Women, Infants and Children (WIC) Check all that apply. Note that these federal benefit programs, especially SNAP and TANF, might have different names depending on the state. FAFSA on the Web (FOTW) might ask the applicant to report the annual benefit amounts received for each selected benefit program. Note that Supplemental Security Income (SSI) is not the same as Social Security Disability Insurance (SSDI), even though the acronyms are similar. If anyone in the household received these benefits, it may make the applicant eligible for one of two simplified financial aid formulas, depending on income. The intention is to make it easier for the applicant to qualify for financial aid by providing additional methods of qualifying for the simplified financial aid formulas. Before these questions were added to the 2007-08 FAFSA, applicants and/or their parents had to have been eligible to file a particular type of federal income tax return (IRS Form 1040A or 1040EZ) to qualify for the simplified financial aid formulas. Some families misinterpret the purpose of this question. It does not limit eligibility for federal student aid to just the families who received one or more of these means-tested federal benefit programs. In fact, about two-thirds of Federal Pell Grant recipients in 2007-08 did not check any of these boxes. It, likewise, does not reduce eligibility for student aid, nor does it reduce the household member’s eligibility for these federal benefit programs. Note that Supplemental Security Income (SSI) is not reported as untaxed income on the FAFSA, even though it can help the student qualify for one of the simplified financial aid formulas.
Filing the FAFSA 84 Parents’ Untaxed Income Certain types of untaxed income are counted by the federal need-analysis formula despite not being included in adjusted gross income. These types of untaxed income include: • Pre-tax contributions made by the taxpayer to qualified retirement plans, including deductions for pension plans, 401(k) plans, 403(b) plans, SEP, SIMPLE and deductible contributions to taxdeferred IRAs and Keogh plans
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FILING THE FAFSA The Edvisors ® Gu
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About the Authors Mark Kantrowitz i
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Our co-workers at Edvisors deserve
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Student Marital Status 23 Driver’
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▶ Adjustments and Overrides 132
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Filing the FAFSA 2 Work-study progr
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Filing the FAFSA 4 Institutional St
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Filing the FAFSA 6 FAFSA Applicatio
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Filing the FAFSA 8 • Macintosh us
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Filing the FAFSA 10 • Records of
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Filing the FAFSA 12 The PIN works l
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Filing the FAFSA 14 FAFSA on the We
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Filing the FAFSA 16 Step 2 - FAFSA
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Filing the FAFSA 18 There are no ag
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Filing the FAFSA 20 Step 3 - COMPLE
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Filing the FAFSA 22 and universitie
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Filing the FAFSA 24 will not ask an
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Filing the FAFSA 26 • Other eligi
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Filing the FAFSA 28 • Male studen
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Filing the FAFSA 30 Grade Level If
Page 41 and 42: Filing the FAFSA 32 Parents’ Educ
Page 43 and 44: Filing the FAFSA 34 the list that i
Page 45 and 46: Filing the FAFSA 36 Federal School
Page 47 and 48: Filing the FAFSA 38 Transferring to
Page 49 and 50: Filing the FAFSA 40 Note that after
Page 51 and 52: ▶ Section 3 - Dependency Status F
Page 53 and 54: Filing the FAFSA 44 Dependency Over
Page 55 and 56: Filing the FAFSA 46 marriage, the c
Page 57 and 58: Filing the FAFSA 48 The following t
Page 59 and 60: Filing the FAFSA 50 Whether the stu
Page 61 and 62: Filing the FAFSA 52 Because of the
Page 63 and 64: Filing the FAFSA 54 It is not uncom
Page 65 and 66: Filing the FAFSA 56 If the student
Page 67 and 68: Filing the FAFSA 58 This section as
Page 69 and 70: Filing the FAFSA 60 be an even numb
Page 71 and 72: Filing the FAFSA 62 support provide
Page 73 and 74: Filing the FAFSA 64 The most common
Page 75 and 76: Filing the FAFSA 66 student, in whi
Page 77 and 78: Filing the FAFSA 68 Parent Financia
Page 79 and 80: Filing the FAFSA 70 Parents’ Tax
Page 81 and 82: Filing the FAFSA 72 The IRS Data Re
Page 83 and 84: Filing the FAFSA 74 Then, the IRS D
Page 85 and 86: Filing the FAFSA 76
Page 87 and 88: Filing the FAFSA 78 In some cases,
Page 89 and 90: Filing the FAFSA 80 • He or she w
Page 91: Filing the FAFSA 82 Although the nu
Page 95 and 96: Filing the FAFSA 86 The intention i
Page 97 and 98: Filing the FAFSA 88 • The student
Page 99 and 100: Filing the FAFSA 90 • Farm income
Page 101 and 102: Filing the FAFSA 92 card debt does
Page 103 and 104: Filing the FAFSA 94 a retirement pl
Page 105 and 106: Filing the FAFSA 96 Rental Properti
Page 107 and 108: Filing the FAFSA 98 Qualified tuiti
Page 109 and 110: Filing the FAFSA 100 Impact of Repo
Page 111 and 112: Filing the FAFSA 102 Section 5 also
Page 113 and 114: Filing the FAFSA 104 money from gov
Page 115 and 116: Filing the FAFSA 106 ▶ Section 6
Page 117 and 118: Filing the FAFSA 108 Need Help The
Page 119 and 120: Filing the FAFSA 110 If filing FAFS
Page 121 and 122: Filing the FAFSA 112 Web Certificat
Page 123 and 124: ▶ Section 7 - Confirmation Filing
Page 125 and 126: Filing the FAFSA 116
Page 127 and 128: Filing the FAFSA 118 If family circ
Page 129 and 130: Filing the FAFSA 120 INCREASING ELI
Page 131 and 132: Filing the FAFSA 122 business incom
Page 133 and 134: Filing the FAFSA 124 • Roll the c
Page 135 and 136: Filing the FAFSA 126 Avoid Trust Fu
Page 137 and 138: Filing the FAFSA 128 Divorce and Se
Page 139 and 140: Filing the FAFSA 130 CHANGES: CORRE
Page 141 and 142: Filing the FAFSA 132 ▶ Adjustment
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Filing the FAFSA 134 • exclusion
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Filing the FAFSA 136 • Financial
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Filing the FAFSA 138 Any data eleme
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Filing the FAFSA 140 ▶ Common Err
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Filing the FAFSA 142 • Applicants
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Filing the FAFSA 144 Errors Involvi
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Filing the FAFSA 146 Errors Involvi
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Filing the FAFSA 148 CONCLUSION Fil
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Filing the FAFSA 150 FM and IM have
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Filing the FAFSA 152 COA COD COTW C
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Filing the FAFSA 154 HEOA Higher Ed
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Filing the FAFSA 156 SIC SID SIMPLE
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Filing the FAFSA 158 1099-C IRS For
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Filing the FAFSA 160 Appeal A finan
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Filing the FAFSA 162 Clergy A membe
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Filing the FAFSA 164 Depreciation D
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Filing the FAFSA 166 Family Educati
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Filing the FAFSA 168 Gift Aid Gift
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Filing the FAFSA 170 Legal Dependen
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Filing the FAFSA 172 Orphan An orph
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Filing the FAFSA 174 PROFILE See CS
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Filing the FAFSA 176 Sticker Price
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Filing the FAFSA 178 Untaxed Income
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Filing the FAFSA 180 15 http://thom
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Filing the FAFSA 182 ▶ Quick Refe
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