Just want to get this straight with FAFSA?

Question

Say I want to go to college and start in January of 2009. If I fill out the FAFSA in say September/October 2008 for 2009 they use my 2008 income right? Or do I have to wait for the Fall of 2009 to start school to use my 2008 income?

I went to college about 2 years ago and with me and hubby's income was able to get full tuition/books payment through the FAFSA, and get a lot of it back after everything was paid.

But in 2007 I was lucky to come into some money...of course that money is now gone because I paid off my car loan and bought a house and unfortunately the FAFSA still wants to count it for last year and would probably tell me I made to much and would have to pay for college on my own. If I just wait a year then I will be in the clear again right?

Answer 1

First of all, you can't fill out the FAFSA in September/October  2008 for 2009 because the earliest day for any year you can do it is January 1. If you are filing it for 2009 then you MUST use the tax return info for 2008, no exceptions. FAFSA awards money based on the previous year. How would you know what FAFSA would award you anyway?

Answer 2

So you are asking me how to cheat so you can get my tax dollars!  You know, the ones I worked hard for.  Here is your answer, have hubby pay for your college then get a job and pay him and us back.  Asking how to scam the government on an open website is not real cleaver!

Answer 3

There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In most<!--instances the FAFSA is required for all federal financial aid including federal student loans. Deferment options are available while you are still attending school at least half-time.  There are four main federal loan programs.

http://best-loans.awardspace.com/student...

Federal loan consolidation is for students who are in repayment status or parents who wish to extend the repayment period on their current PLUS and obtain a fixed interest rate for the life of the loan-->you can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.

Answer 4

No you are not cheating.  When you reapply for aid you will be in a different year and will be using the previous years income.  Ask for assitance because there are special circumstances and the money you won may not affect it sometimes there are extra forms or extra information you can give them and still be eligible