Colleges mainly give money based on tax-returns right?

Paying for College
1

<p>It appears that my parents mostly estimated their gross income/assets, things like that. So, a tax return is the only thing that colleges look at when they give out need-based money right?</p>

2

<p>this varies from college to college, not all schools require you to submit tax forms</p>

3

<p>Financial aid is based on both income and assets. If estimated income figures were used on FAFSA an aid offer may be made based on that but no aid will actually be paid out until a tax return is filed and the FAFSA is ammended to reflect this. Differences between FAFSA and taxes filed will raise red flags. About 30% of FAFSAs are selected for verification which must be done before financial aid will be paid out.</p>