Can filing tax returns hurt chances for financial aid?

Question

hey, I filed for income tax return and got about $200, I made about 2,000 dollars in income and I live with my parents and 4 other siblings, we are struggling to pay for many things and living in New York City is hard. I was wondering if this will hurt my chances of getting aid?

Answer 1

Well filing your taxes really doesn't have anything to do with the fafsa application.  If you are single and make a certain amount of money then you have to file no matter what.  But if you only made $2000, then you could have marked, will not file, and the fin aid office probably would have just asked for a copy of your W-2 forms.  What matter is how much your family makes, how much you make (which sometimes can have a greater effect than you think), number in the household versus how many in college, COA of the school (cost of attendance), and all that factors into an EFC (estimated family contribution) which determines whether or not you'll get pell grant. My suggestion is to fill out the application and make an appoinment with your Fin Aid Advisor and then they can give you the best advice.

PS: always fill out your application early (march the lastest) because the school can offer more funds that are distributed on a first come first serve baises.

Answer 2

You have to file your tax form to even get financial aid.

If you are considered a dependent student, you will need your parents tax returns as well.

The information on the tax returns is going to be what determines your eligibility for aid.