Disclosing Income to Child ...

NikkiiL
Fri, 15 Jan 2010 18:50:49 +0000

Thumper is VERY VERY right.

In actuality, it isn’t legal for the parent to sign the FAFSA for the student. It isn’t even legal for the parent to HAVE the PIN number. When you apply for the PIN number, you agree to NEVER share it with anyone.

“Your PIN can be used each year to electronically apply for federal student aid and to access your Federal Student Aid records online. If you receive a PIN, you agree not to share it with anyone. Your PIN serves as your electronic signature and provides access to your personal records, so you should never give your PIN to anyone, including commercial services that offer to help you complete your FAFSA. Be sure to keep your PIN in a safe place.” from the PIN website.

From the PIN application “By providing this information, you certify that you are the person identified by these items. If you are not that person, you are not authorized to proceed and you should exit this form now.”

When the FAFSA is signed using the student’s PIN number, you attest that you are the person assigned the PIN…that you are the student.

I can understand parental desires to keep income information private. I understand that some students do not have the capicity to properly fill out the FAFSA. However…if you are sending your child off to college…when are you going to allow them to grow up? I cannot tell you how many college children are coddled by their parents. Lord forbid the FA Office sends the child a request to come fil out some paperwork…the kids ignore the request because “my parents handle my financial aid”

I cannot tell you how many college students graduate having NO idea they took out students loans…because their parents handled all of the paperwork. Those same children are the ones most likely to DEFAULT on their loans and end up in a world of financial hurt.

What lessons are we teaching our children…all in the name of income privacy???