Help please. EFC changed from 667 to 2371?

kelsmom
Sat, 29 Jun 2013 10:38:45 +0000

Please refer your aid office to the 2013-2014 Verification Guide, Chapter 2, AVG-12, sidebar. This reads: Income earned from work and the IRS 1040 form
The FAFSA instructs the applicant to sum lines 7, 12, and 18 of the 1040 form and box 14 [code A] of Schedule K-1 (Form 1065) as an option for determining the income earned from work. But when the values of lines 12 or 18 or box 14 are negative, this will reduce the total and can wrongly affect the Social Security allowance. If values from lines 12 or 18 or box 14 are negative, treat them as zero when determining the income earned from work.

In other words, your aid officer is not correct. Please show him/her the passage - you can find it here: http://ifap.ed.gov/fsahandbook/attachments/1314AVGCh2.pdf. If they won’t fix it, please ask them why they will not … and go up the chain of command, if you need to do so to get action.