I’m applying to UCs for the 2016-17 school year and I qualify for the blue and gold opportunity plan based off my family’s 2014 income taxes. The FAFSA is due by March 2nd but my parents don’t file their taxes until after that. I was wondering what happens if they accept me for the blue and gold opportunity plan based off of my family 2014 income taxes but what if when my parents file their income taxes it’s a little over 80,000? (The 2014 income taxes were barely below 80k for 2014 so I’m worried) and also what if my family’s income is below 80k for 2 years but the third year is over? Will they take away the blue and gold plan for the remaining two years?
If your parents income ends up being just over $80k, then you won’t qualify for B&G, but you’ll still likely get just as much aid.
Check by doing this: Go to a UC’s NPC and put in that the family income is $82,000 and see what the results are. Copy/paste them here.
B&G is not a “plan”…it’s a promise
Thanks for the information and I referred to the B&G as a plan because that’s what it says on the UC website. But of course its a promise, too.
Did you run the UC NPC with an income of $ 82k to see what the results are? Copy paste the results.
I’m confused; why would they look all the way back to 2014 taxes? I just submitted my UC apps tonight and am hoping for B&G but if it goes all the way back to 2014 I might have a problem.
You will be using 2015 income info.
No, just 2015 income will be used when you file fafsa in early 2016 for your fall award. And it looks like 2105 will be used again the following year as a one time repeat while the fafsa schedule is adjusted for the 2017 year. After that you will use 2016 income for the 2018 year, and 2017 income for the 2019 year.
@chloehloeloe should not use 2014 income. Her parents should try to get taxes done in time, or file early using up to date 2015 estimates.
I’m not sure you can file your taxes late or under an extension if you are going to ask for institutional aid. Certainly if you are selected for verification, you must submit tax filings or you are only going to get federal aid, see this notice on the UCI site
http://www.ofas.uci.edu/content/IRSDataRetrievalTool.aspx
Please note that if you submit an extension in lieu of your/your parent(s)’ federal tax information, you will only be considered for federal financial aid. You will only be considered for institutional funds if you submit the required federal tax information to our office by the original due date.
Please bring this to your parents attention @chloehloeloe
Thank you for the information! It has been very helpful and I will let my parents know! Also the UC NPC estimated $14,938.47 - $15,938.47 for financial aid. This upcoming year my twin sister will be going to college as well and my brother will start his 3rd year, so I wonder if we would get more financial help?
I was under the impression that you can start your FAFSA in January and submit it for priority and select an option for “will file” if your parents plan to file a bit later…this is what I have always done, at least. My mom doesn’t usually file until March or April but so long as it’s submitted early, even if you give decent estimates on income and say that your parents plan to file, they’ll give you an idea of what you’re looking at as far as fin aid.
Also, if I have received Cal Grant in the past, is it safe to assume that I needn’t fill out a Cal Grant verification form when I fill out my fafsa this January? I’m currently attending a CCC (and have for the past 2 years) but just applied to UCs last night.
@chloehloeloe the NPC should ask how many in college, so that should already be factored in.
@Grinsley Yes, you’re correct about the filing w/estimates. I always do that as well & correct around March/April & it works out just fine. It’s important to submit in Jan for work study priority and stuff.
@chloehloeloe Hmm with 3 in college, shouldn’t that aid estimate be higher?
the NPC asked how many people in my household were in college during the last academic year, so I put one since it was only my brother last year.
^ That’s odd. Usually it’s how many will be in college during the year for which you’re applying for aid.
Chloe you have to put 3 in college to get the correct estimate. Sometimes NPC have old dates but dint put old data in. Use 2015 income estimates and other current info.
Put in the info you posted + random/normal assets. Grant alone should be ~20k. Try it yourself w/all correct info.
Yes, I out the situation as it will be when you are applying to college. And don’t forget to think of a 4 year plan as it will change again when the oldest graduates.
You guys are right, now it’s 20k! Thank you so much for the help, I feel a lot better about financial aid now! I was so worried I wouldn’t be able to afford college. Thank you, again!
Also does this amount include the Cal grant? I have a 4.1 GPA but I don’t know how much I’ll receive