What if parents are divorced, student lives with the mom who is also the primary financial supporter, but per divorce settlement, the child is claimed on the dad’s income tax filing. Who is the parent that needs to fill out the FAFSA?
Hi, my understanding is that the parent who is considered for the FAFSA is the parent that provides the "majority of the support," regardless of who claims the student on their taxes. I've watched other videos and read pages of materials that seem to support this, but I think I heard you say it would need to be the parent that claims for IRS purposes. Would you please clarify? Thank you for the video - very helpful!
You’re amazing for helping people like this.. thank you ❤ good karma for sure You always get when you give generously and freely First financial aid RUclipsr I have come across who offers more help with any questions an individual may have ❤️ God bless 🙏🏽
Ed, Great video ... very informative. However, any chance you could not speak so fast and also record in a room where the acustics are not so echoed? Had to rewind several times
Hi Ed, great content, thanks for the support with this. Does the 24-25 FAFSA account for married filing separate? Prior years this situation was not allowed to for the tool to access the IRS and pull down our tax info. Is there any special instruction on filling this out manually? Do I just take the separate figures from the the two different forms and add them together? Thanks for any help on this.
QUESTION : One of the NEW parts is being a "CONTRIBUTOR" - I heard if so, then each "contributor" is required to have a FAFSA ID , which requires them to apply for this BEFORE filling out the FAFSA so you have it at hand.. In previous yrs, myself , the MOM was the only one who needed the FAFSA Id (never my husband, we are married, we file Jointly on our Tax returns). WIll my husband NOW need a FAFSA Id also , or if Married, still only (1) parent , as our Taxes are filed Jointly every year?
1) So, if a parent has 529 plan for the student, will that impact the new criteria? If it does can that 529 plan be put in a grandparents name to avoid it being calculated? 2) If parents receive Earned Income Credit how does that effect the application and also, how would that effect the money held in a 529 plan, what is the threshold for an EIC receiving family?
When completing the FASFA, are you obligated to report the funds in all of your checking and savings account or just your primary checking and savings? How would they know if bank account information is omitted and not reported? If I received payouts from retirement for example which increased my income for the year and this isn’t my usual annual income, can I simply put my annual income on the FASFA or does it have to be the amount reflected on my taxes? Thank you for all of your support!
Great video! Can you elaborate, or point me in the direction of where to get more information about how a family farm is counted? I can't seem to find any current information that gives enough details about how it will work and what will be required.
What if you're on your own, no one else helps you. What's the max amount a single person can make to get all the benefits (living in Cali, going to school same state)
My EFC is zero, my SAP is satisfactory. I was given a Pell grant then I signed an offer letter for almost $3++ grand this semester then after a week, I told i was not eligible for the grant. Since they say my EFC is higher than my COA but on the offer letter they have me sign is that I have zero EFC and a $13131 COA. On my fafsa account it said im eligible for the 7300+ grant this semester. So I dont know whats going on. My college financial aid now is showing zero grants.
Thanks for all the info! Q: you mention that we'll be using 2022 taxes for the 24-25 academic year. Do you mean the taxes we completed and submitted in 2022 (wages from 2021) OR wages from 2022 (taxes submitted in 2023?)
We are using our using the 2022 taxes for the 2024-25 Fasfa but what about the other info such as child support? Do I use the child support received in 2022 or 2023?
If your AGI is less than $60K, does the FAFSA form omit the questions related to assets? Or do you enter your asset information regardless and FAFSA omits the asset information from the financial aid calculation?
Thank you for all of your information! If parents do not claim their child on their tax returns, does that remove the University from taking into account the parent's income, etc?
As per attorney in New Jersey Separation doesn’t exist, so what prove can we provide if there’s no court order? What is legal separation for them in Nj ?
How do i correct my SSN because its saying that my information is not matching and it won't allow me to proceed. I have been calling and no one is picking up
Hi Ed, This has been quite useful Thank you for this information. I do have one question, though. I have twins who will be applying for FAFSA for 2024-25. Based on your comment on multiple students applying, is there something different that I should be doing, or is appeal the only recourse? Thank you
Is there a form I can filed as well to let them know my husband has been unemployed for the last year and I am only provider for my household if 5 people.
Thank you very much for all the info - very helpful. The link for "The Introductory Video For The James Russo Memorial Scholarship" doesn't work - error says video doesn't exist. So, how can we apply for the 2023-2024 scholarship? Can you please enter the link into comments? Thank you.
@yanmamabear5734 asked this question a couple months ago but I cannot find your answer. Can you guide me to where to find this info? What if parents are divorced, student lives with the mom who is also the primary financial supporter, but per divorce settlement, the child is claimed on the dad’s income tax filing. Who is the parent that needs to fill out the FAFSA?
Thanks for your quick summary. For the new FAFASA from 2024-2025, does 529 education fund still counting toward student's or parent's assets? also, if my child is ED (early decision) taking into the consideration that FAFASA application won't even start until early December, what are things (financial aspects) that I need to be look out?
if the information is going to be retrieved automatically, would you be able to check what information was retrieved? will you see your information before submitting?
Good morning Mr Z My older son is getting ready to Apply for FASFA I have a living trust on a second home who’s is left to a family member as this is a family home which is passed down to my other son will this effect my son who is applying for the FASFA this year Thank you
Hi... question...can you add only income of one parent even if they filled joint. They are and haven't been together, but for some reason continue filling together. My mother filled for divorce but her taxes together with her exspouse do not qualify me for help. How can I fix that...alone my mother does not even make 40k a year for her and me. That is all our income. Her ex-spouse is not even my parent...I do not receive extra income from anywhere other than my mom having two jobs. Are there any other documents I can use to prove my moms true income without using her tax return?
Hey ed , really important question. MY parenst income is aorund 50-55K and both my siblings are in college getting full financial aid, would me getting a job in my senior year of hs , potentially lower me and my siblings financial aid? Or is there a limit to how much money i can make before it has an effect on me. (my family consists of 2 parents 4 siblings, one elderly), only my dad makes money.
At long as you don’t make more than $7000, it won’t affect your FAFSA bc you don’t have to file taxes bc of your low income. So short answer: no, it wouldn’t affect your aid.
I filled out the FAFSA October 1st, before the site crashed. I uploaded taxes from the irs retrieval system, And Then her school asked for a verification. They didn’t complete the verification until February 2023 and said they ran out of some financial aids. I did everything right. What should I do this time around?. The school didn’t even start asking for the verification forms until January
My ex-husband and I are legally divorced. We have two kids, one starting college in 2024-25. Our divorce decree states that he can claim the other (non-student) kid on his taxes every other year; otherwise I (mom) claim them both. We have 50/50 custody and he pays child support, so he is the parent who provides more financial support. We assumed he would do the FAFSA but the tax returns will have me claiming the student. We want him to do the FAFSA even though I have lower income, because I also have significantly more non-retirement assets. Is it going to be a problem that I am the one claiming the student on the taxes even though we are saying (correctly) that he is providing more support because of the child support?
If your student wants to live in the dorms they most likely need to apply at the College. -TX A&M SA requires the student to also buy the meal plan when living at their dorms.
@@MrTexaz101 🤔 that wasn't like that on the other fafsa forms.. students selected what they wanted to apply for in campus or not. The award letter will then tell them how much is cover and how much is the student part.
What if parents are divorced, student lives with the mom who is also the primary financial supporter, but per divorce settlement, the child is claimed on the dad’s income tax filing. Who is the parent that needs to fill out the FAFSA?
You're helping so many people with your knowledge!
Good luck to everyone filling out the form!! -Augsburg (MN) University 2027
Thank you Ed! Our son is graduating from Pequannock Township High School this June 2024!
Hi, my understanding is that the parent who is considered for the FAFSA is the parent that provides the "majority of the support," regardless of who claims the student on their taxes. I've watched other videos and read pages of materials that seem to support this, but I think I heard you say it would need to be the parent that claims for IRS purposes. Would you please clarify? Thank you for the video - very helpful!
You’re amazing for helping people like this.. thank you ❤ good karma for sure
You always get when you give generously and freely
First financial aid RUclipsr I have come across who offers more help with any questions an individual may have ❤️
God bless 🙏🏽
This is so helpful!! Thank you
My son goes to Passaic county voc tech.. he will graduate 2024
Ed, Great video ... very informative. However, any chance you could not speak so fast and also record in a room where the acustics are not so echoed? Had to rewind several times
Thank you Ed for your help 17:39
Thank you for everything you do! I really appreciate these videos ^^
Means benefits SNAP, SSI, TANF, Wic, Medicaid.
Great info! Thanks Ed! Columbia HS Class of '25
Hi Ed, great content, thanks for the support with this. Does the 24-25 FAFSA account for married filing separate? Prior years this situation was not allowed to for the tool to access the IRS and pull down our tax info. Is there any special instruction on filling this out manually? Do I just take the separate figures from the the two different forms and add them together? Thanks for any help on this.
QUESTION : One of the NEW parts is being a "CONTRIBUTOR" - I heard if so, then each "contributor" is required to have a FAFSA ID , which requires them to apply for this BEFORE filling out the FAFSA so you have it at hand.. In previous yrs, myself , the MOM was the only one who needed the FAFSA Id (never my husband, we are married, we file Jointly on our Tax returns). WIll my husband NOW need a FAFSA Id also , or if Married, still only (1) parent , as our Taxes are filed Jointly every year?
1) So, if a parent has 529 plan for the student, will that impact the new criteria? If it does can that 529 plan be put in a grandparents name to avoid it being calculated?
2) If parents receive Earned Income Credit how does that effect the application and also, how would that effect the money held in a 529 plan, what is the threshold for an EIC receiving family?
This was awesome, thank you!
Thank you for the information Ed. West Morris Central HS Class of 2024
Ed- what happens when the parents are divorced and they alternate claiming the child on their taxes?
When completing the FASFA, are you obligated to report the funds in all of your checking and savings account or just your primary checking and savings? How would they know if bank account information is omitted and not reported? If I received payouts from retirement for example which increased my income for the year and this isn’t my usual annual income, can I simply put my annual income on the FASFA or does it have to be the amount reflected on my taxes?
Thank you for all of your support!
9:16 Pell Grant Formula Married $60k or below = Eligible.
Great video! Can you elaborate, or point me in the direction of where to get more information about how a family farm is counted? I can't seem to find any current information that gives enough details about how it will work and what will be required.
What if you're on your own, no one else helps you. What's the max amount a single person can make to get all the benefits (living in Cali, going to school same state)
My EFC is zero, my SAP is satisfactory. I was given a Pell grant then I signed an offer letter for almost $3++ grand this semester then after a week, I told i was not eligible for the grant. Since they say my EFC is higher than my COA but on the offer letter they have me sign is that I have zero EFC and a $13131 COA. On my fafsa account it said im eligible for the 7300+ grant this semester. So I dont know whats going on. My college financial aid now is showing zero grants.
Great info! Thanks Ed! Son @ Passaic County Technical Institute. Class of '24
Thank you for this info. David Brearly high school Kenilworth NJ. June 2024
Thanks for all the info! Q: you mention that we'll be using 2022 taxes for the 24-25 academic year. Do you mean the taxes we completed and submitted in 2022 (wages from 2021) OR wages from 2022 (taxes submitted in 2023?)
We are using our using the 2022 taxes for the 2024-25 Fasfa but what about the other info such as child support? Do I use the child support received in 2022 or 2023?
Tremendous...thank you
Hi, great video. Just to clarify I do not need to report our 529 under investments Or anywhere else?
If your AGI is less than $60K, does the FAFSA form omit the questions related to assets? Or do you enter your asset information regardless and FAFSA omits the asset information from the financial aid calculation?
Since my sons father claimed him for the 2022 tax year, can we use his income for 2024-2025 FAFSA application?
Thank you for all of your information! If parents do not claim their child on their tax returns, does that remove the University from taking into account the parent's income, etc?
Thanks, again, Ed!
Thank you! Paramus HS class of 2024
As per attorney in New Jersey Separation doesn’t exist, so what prove can we provide if there’s no court order? What is legal separation for them in Nj ?
What is legal separation document in NJ?what will be required to provide, attorneys don’t know
Thanks! Mount Saint Mary’s class of 2025
How do i correct my SSN because its saying that my information is not matching and it won't allow me to proceed. I have been calling and no one is picking up
I just got married in 2022. But my 2021 taxes I was single. It says my taxes are not matching up.
Hi Ed, This has been quite useful Thank you for this information. I do have one question, though. I have twins who will be applying for FAFSA for 2024-25. Based on your comment on multiple students applying, is there something different that I should be doing, or is appeal the only recourse? Thank you
What happens if you were not required and did not file 2022 taxes
Is there a form I can filed as well to let them know my husband has been unemployed for the last year and I am only provider for my household if 5 people.
Thank you very much for all the info - very helpful. The link for "The Introductory Video For The James Russo Memorial Scholarship" doesn't work - error says video doesn't exist. So, how can we apply for the 2023-2024 scholarship? Can you please enter the link into comments? Thank you.
@yanmamabear5734 asked this question a couple months ago but I cannot find your answer. Can you guide me to where to find this info?
What if parents are divorced, student lives with the mom who is also the primary financial supporter, but per divorce settlement, the child is claimed on the dad’s income tax filing. Who is the parent that needs to fill out the FAFSA?
Do you have to list your primary house as an asset and what if you have a second house?
Thanks very much for the insightful information. How do I handle submitting application for twins? Can I use the same email or account?
Henry Becton high school NJ my daughter will graduation in May 2024
Thanks for your quick summary. For the new FAFASA from 2024-2025, does 529 education fund still counting toward student's or parent's assets? also, if my child is ED (early decision) taking into the consideration that FAFASA application won't even start until early December, what are things (financial aspects) that I need to be look out?
if the information is going to be retrieved automatically, would you be able to check what information was retrieved? will you see your information before submitting?
Can someone help me to answer this question: why do they move the application for college students to December 31?
Does parents savings affect fafsa application? Thanks you will answer me.
Thank you so much for your information! Passaic County Technical Institute class of 2024
New date is now Dec 31st
Don Bosco prep at Ramsey NJ student Noah Huq
Good morning Mr Z
My older son is getting ready to Apply for FASFA I have a living trust on a second home who’s is left to a family member as this is a family home which is passed down to my other son will this effect my son who is applying for the FASFA this year
Thank you
Do you have to report workers compensation, Wc is not taxed
Hi. Does fafsa offers a free money for medical school students or all loans? Thanks
Hi... question...can you add only income of one parent even if they filled joint. They are and haven't been together, but for some reason continue filling together. My mother filled for divorce but her taxes together with her exspouse do not qualify me for help. How can I fix that...alone my mother does not even make 40k a year for her and me. That is all our income. Her ex-spouse is not even my parent...I do not receive extra income from anywhere other than my mom having two jobs. Are there any other documents I can use to prove my moms true income without using her tax return?
What do I do if I divorced since 2022?
Thanks Ed. Hanover Park Hs Class of 2024
thanks for the details; West Morris Central High School 2025
Hey ed , really important question. MY parenst income is aorund 50-55K and both my siblings are in college getting full financial aid, would me getting a job in my senior year of hs , potentially lower me and my siblings financial aid? Or is there a limit to how much money i can make before it has an effect on me. (my family consists of 2 parents 4 siblings, one elderly), only my dad makes money.
At long as you don’t make more than $7000, it won’t affect your FAFSA bc you don’t have to file taxes bc of your low income. So short answer: no, it wouldn’t affect your aid.
I filled out the FAFSA October 1st, before the site crashed. I uploaded taxes from the irs retrieval system, And Then her school asked for a verification. They didn’t complete the verification until February 2023 and said they ran out of some financial aids. I did everything right. What should I do this time around?. The school didn’t even start asking for the verification forms until January
Work study was already filled up but she was eligible. Supplemental grants in addition to financial aid was gone. I need this not to happen this year
My ex-husband and I are legally divorced. We have two kids, one starting college in 2024-25. Our divorce decree states that he can claim the other (non-student) kid on his taxes every other year; otherwise I (mom) claim them both. We have 50/50 custody and he pays child support, so he is the parent who provides more financial support. We assumed he would do the FAFSA but the tax returns will have me claiming the student. We want him to do the FAFSA even though I have lower income, because I also have significantly more non-retirement assets. Is it going to be a problem that I am the one claiming the student on the taxes even though we are saying (correctly) that he is providing more support because of the child support?
Christopher hauser w8ben
Hello! Im in same situation, did he answered
he did not@@elsamontoya1764
Me too!
I wish the acronym was easier to pronounce. It even makes people who work in the field mispronounce it.
Does anyone know if students want to dorm.. how they can apply for that?
If your student wants to live in the dorms they most likely need to apply at the College. -TX A&M SA requires the student to also buy the meal plan when living at their dorms.
@@MrTexaz101 🤔 that wasn't like that on the other fafsa forms.. students selected what they wanted to apply for in campus or not. The award letter will then tell them how much is cover and how much is the student part.
Passaic County Tech class of 2024
change how you do your audio.
I have twins please help me
request - please speak more slowly. or let us know how to slow the speed. Ed, you're a little hard to follow at the speed on my screen
Top right of the screen there is a gear symbol which u can click. Then click the playback speed button and choose your preferred speed
#4
single family parent?
huh?
Paramus High School Class 2024
You talk way too fast
Paramus High School Class 2024