Got a quick question about the FAFSA: How do people fill them out so early?

[Ryan]

I know that application for the 2006-2007 FAFSA starts acceptance on the 1st . Seeing as it requires Tax information from the 2005 tax year, how do people get these things filed so early? My employer won't even provide me with a W2 until like February.

Also, the fact that they consider me a dependant of my parents, and require me to give their tax information is bullsh!t - that's all I have to say!

 

[dullard]

I always calculated my tax in December, then on Jan 1st, I would update my tax form for any last minute changes from one year to another year. That way on Jan 2nd I could fill out the FAFSA with all the latest data. I never did the FAFSA on Jan 1st since the website is always far too bogged down that day.

You don't need a W2 to know how much you were paid and how much was withheld. That information should be on all your paystubs. So you have all the information necessary to do it.

Sorry if your parents aren't cooperating.

 

[Ryan]

Originally posted by: dullard
I always calculated my tax in December, then on Jan 1st, I would update my tax form for any last minute changes from one year to another year. That way on Jan 2nd I could fill out the FAFSA with all the latest data. I never did the FAFSA on Jan 1st since the website is always far too bogged down that day.

You don't need a W2 to know how much you were paid and how much was withheld. That information should be on all your paystubs. So you have all the information necessary to do it.

Sorry if your parents aren't cooperating.

I'm sure I can get them to cooperate - just the fact that my eligibility for financial aid is dependant on their income is bullsh!t.

 

[jspeicher]

I agree with everything...FAFSA sucks my testes, but they give me grants so....

 

[dullard]

Originally posted by: Ryan
I'm sure I can get them to cooperate - just the fact that my eligibility for financial aid is dependant on their income is bullsh!t.

Those in the middle class or upper class whose parents don't pay for college are screwed under the system. I was in the same situation. So I just excelled in school and had most of everything covered by scholarships. I just roll with the punches and make the best of what I can.

 

[liluqt]

I was a kid who applied early for FAFSA. You use your tax return information from the previous year as an estimate so that at least you get something filed for financial aid...then when you get your '06 taxes back, you merely "update" with the accurate information.

 

[Ryan]

Originally posted by: liluqt
I was a kid who applied early for FAFSA. You use your tax return information from the previous year as an estimate so that at least you get something filed for financial aid...then when you get your '06 taxes back, you merely "update" with the accurate information.

But here's what I don't understand:

If you use the previous tax return, how can any amount of aid be determined until your updated information is added? I just don't understand how any amount of aid can be determined on estimates.

 

[liluqt]

They just allocate what they think you need based on your estimates and then once your real data comes in, they will make proper adjustments (offering more or collecting back). I've had FAFSA come after me in September to collect $9K back because they didn't update their systems properly.

 

[homestarmy]

Originally posted by: Ryan

Originally posted by: dullard
I always calculated my tax in December, then on Jan 1st, I would update my tax form for any last minute changes from one year to another year. That way on Jan 2nd I could fill out the FAFSA with all the latest data. I never did the FAFSA on Jan 1st since the website is always far too bogged down that day.

You don't need a W2 to know how much you were paid and how much was withheld. That information should be on all your paystubs. So you have all the information necessary to do it.

Sorry if your parents aren't cooperating.

I'm sure I can get them to cooperate - just the fact that my eligibility for financial aid is dependant on their income is bullsh!t.

Do your parents pay ANY of your bills? Tell the truth now...

What sucks is when you have to work a fulltime job to pay for everything because they factor in your parents income even though you get 0% support from them.

 

[homestarmy]

BTW, I finally got around it by claiming my girlfriend as an exemption on my taxes (rightfully, I paid for all bills and supported her) which made me legally independant.

 

[Pepsei]

i could do my taxes right now from my pay stub that i got yesterday. but i don't have the latest turbo tax yet.

 

[Ryan]

Originally posted by: homestarmy

Originally posted by: Ryan

Originally posted by: dullard
I always calculated my tax in December, then on Jan 1st, I would update my tax form for any last minute changes from one year to another year. That way on Jan 2nd I could fill out the FAFSA with all the latest data. I never did the FAFSA on Jan 1st since the website is always far too bogged down that day.

You don't need a W2 to know how much you were paid and how much was withheld. That information should be on all your paystubs. So you have all the information necessary to do it.

Sorry if your parents aren't cooperating.

I'm sure I can get them to cooperate - just the fact that my eligibility for financial aid is dependant on their income is bullsh!t.

Do your parents pay ANY of your bills? Tell the truth now...

What sucks is when you have to work a fulltime job to pay for everything because they factor in your parents income even though you get 0% support from them.

Nope - the only thing that comes close is the fact that I live in a townhouse they own, but I pay them monthly rent on the house, and I pay for all utilities. I pay for everything.

I work my ass off for 40 hours a week, and it sucks.