<p>So, this year I was awarded FAFSA and they transferred it right into my bank account. The thing is I don’t want to use all that money I want to save it to pay for the 4-year school. When they ask “how much money you have in bank” in the FAFSA of next year, I will answer with the amount of the award of this year. Will they think that I have that much money (their money) in bank then they reduce my next year award ? Or should I withdraw all that money then state I have nothing in bank in the next FAFSA ?
By the way, one more thing, I am not a native English speaker. I’m still trying on improve myself in English. Of course, I can basically make a normal conversation, but just some sentences too complicated and too much information I will be confused. I have been studying English for about 3 years. My English class in college recently is below English 101 one level ( the preparing for English 101, not ESL). I was accepted for the Work Study. Is there any chance that I will not be hired because of my inefficient English ?
Thank you guys a lot.
Wayne.</p>
<p>What money did you get by filing the FAFSA? Stafford loans, or are you referring to scholarship money you received from the school you are attending? </p>
<p>Yes, any money that you have in the bank OR IN YOUR POSSESSION AT ALL is reportable on the FAFSA application for next year. Do not try hiding this money and not reporting it, because if you get caught, you are guilty of lying to the federal government. If you do not need this money for your current school, you can either pay back the loan or report it on the FAFSA. It will not prevent you from getting Stafford loans for all 4 years, at least not the unsubsidized ones. Everyone is entitled to the same amount of unsubstantiated loans. And you are only required to contribute a percentage of your assests every year, so the small percentage of the money from those loans that you have now will not make a very big difference anyway.</p>
<p>As to the work study job: those jobs are awarded through the school you are attending. When you apply (probably through the financial aid office) the person awarding the job usually assigns people to jobs that they can do; there are probably jobs that do not require strong speaking skills. My daughter’s job during her first year of school was putting up posters all over campus. My work study job was serving food in the cafeteria. Talk to the financial aid staff and they should help you out.</p>
<p>Actually I have asked this question of specific school’s financial aid directors:
“If DDs loan proceeds are in her bank account on the day FAFSA is filed (for instance if the student lives off campus and pays monthly rent & bills, not once a term R&B, how does that affect financial aid?”
I was told NOT to include any financial aid monies in the FAFSA assets</p>
<p>The instructions right on the FAFSA clearly state that you are not to count any money in the bank that is from financial aid.</p>
<p>Hi, thanks all for taking ur time answering my question, i really appreciate that.
I’m sorry that I did not state what is that money. It is the Federal Aid $5500, not a loan.
So I have 2 opinions here:
- KKmama: I have to report all the Federal Aid which is $5500 ( and $ 3000 if I get Work Study). Thank you for the information about WorkStudy, I will get the interview today :D. Let’s see how it’s going .
2.somemom and kela10: FAFSA money (aid not loan) is not counted.</p>
<p>Maybe I did not get the opinion clearly enough. Can I get a clearer answer, a final one ?
Thanks.</p>
<p>The FAFSA instructions for student assets are:
</p>
<p>[Completing</a> the FAFSA 2011-2012/The Application Questions(40-42)](<a href=“http://studentaid.ed.gov/students/publications/completing_fafsa/2011_2012/ques3-2.html]Completing”>http://studentaid.ed.gov/students/publications/completing_fafsa/2011_2012/ques3-2.html)</p>
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</p>
<p>A student loan is aid</p>
<p>@Swimcatsmom : oh thank you, that explains. Thanks all. :)</p>