The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: OT: simplifying the tax code, etc.||Date: 1/31/2012 6:27 PM|
|Author: inparadise||Number: 114811 of 125434|
You want to talk about simplifying, let's talk FAFSA. It's due at the beginning of February - one day after the deadline to distribute W-2s, and two weeks before 1099s are due. Talk about dumb!!!!
And most schools require one from everyone. Even those who, by their own admission aren't going to qualify for need-based aid.
We just filed this for the first time, and used estimated tax returns. We can amend it later if need be, but we are one of those that don't even begin to qualify for need based aid.
And yes, one of the schools that has already awarded Eldest about $18,000 in merit scholarships has stated that there will be no money given, even merit or the cash they are willing to give him as a legacy student, without the Fafsa. Have it in writing even. I've also been told by another parent at our school that is in some sort of position that deals with financial aid at a local university, that the institutions are somehow rewarded by the gov't by getting the majority of their applicants to provide the FAFSA info. I didn't have the time to understand him fully, but that was the understanding he left me with.
finding FAFSA surprisingly easy to finish with the website they provide to do it
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