<p>Currently my parents are living in the States, and we basically have an EFC of 0. When i’m off in college, they will go back to Taiwan. We currently have no properities or anything in the states, so will our FAFSA and stuff like that change as well ?? i’m worried that as colleges do yearly reviews of FA packages, that they will think that something’s suspicious. How will i report that?</p>
<p>Even if your parents are not working in the U.S. the college will still want to know how they are supporting themselves and how they are surviving in taiwan. Even if they are receiving gifts from others it will still have to be reported when applying for financial aid</p>
<p>so does that mean on my app for finanical aid for colleges that i apply i put down my current situation and i’ll just change it for yearly review?? </p>
<p>my mom is currently a student and she works part time, my dad is retired. So i’ll have to convert my mom’s salary in Taiwan when she goes back to US dollars?</p>
<p>Everyone has to redo FAFSA every year. For 2008-2009 school year you reported your parents income and your own income for 2007 and your and their assets on the date you filed. For 2009-2010 school year you will report your parents and your own income for 2008 and your and their assets on the date you file. </p>
<p>Financial aid packages are done anew each year based on that year’s FAFSA.</p>
<p>I do want to mention that it is not true that your parents report receiving gifts from others. It is not obvious on the online FAFSA, but on the paper form and on the government documentation to colleges about interpreting it, “gifts received by parents” is X’ed out and not included. <a href=“http://ifap.ed.gov/sfahandbooks/attachments/0809AVGCh2.pdf[/url]”>http://ifap.ed.gov/sfahandbooks/attachments/0809AVGCh2.pdf</a> See page 17, last line of the first paragraph.</p>
<p>I know this isn’t relevant to this thread, but I didn’t want someone searching on gifts to parents to get confused. I was confused about this a lot this year before I found the information above.</p>
<p>athenegoddess</p>
<p>When you are settled in at your college, go visit the financial aid office and discuss your particular situation with them. Chances are they have had students with similar situations in the past and they can advise you on how to proceed.</p>
<p>Wishing you all the best.</p>
<p>I thought this was going to be a thread on how big of a party to throw.
;)</p>
<p>^ LOL. haha. cuz that’s totally what i’m going to do!! haha. actually they are away for long periods of time anyway so it’s really not that big of a deal. i’ve just had to learn how to be mature faster i guess. </p>
<p>ok. thanks for the help everyone! i just don’t want to go to my dream school/ school w best FA and end up with a humongous bill to pay!</p>