Would I qualify for FAFSA?

Paying for College
1

<p>I just finished filling out the FAFSA with my parent and our income is about $20,000 for 2011. However, our assets, investments, real estate, etc. are about $400,000 - 500,000. </p>

<p>Should I even send the fafsa application?</p>

2

<p>What are you including in your assets?</p>

3

<p>Yes. Fill it out. It cant hurt. Retirement investments are not counted, I believe. Neither is the value of your primary home. Read up on FAFSA and there is a calculator you can use to see what EFC it would create for you. You can at least do that. The CSS, btw, looks at most investments, including the value of your home.</p>

4

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<p>Your income is below the threshold for simplified needs and auto $0 EFC…but…does your family file a 1040A or 1040EZ tax form for 2010? OR are you eligible or receiving free lunch, food stamps or any other means tested benefit? If so, you would qualify for the simplified needs test and your assets would not be reported on the FAFSA.</p>

<p>And with an income below $30K, I believe you would also have an auto $0 EFC…IF you meet one of the above (1040a/ez or means tested benefit recipient).</p>

5

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<p>What was the EFC that resulted from this? There’s really no harm in submitting the FAFSA as you will, at a minimum, be eligible for Stafford student loans and Parent Plus loans. Without submitting, you’re probably not eligibile for anything other than merit aid.</p>