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Profile schools and tax returns
 Moderated by: CarolynLawrence  

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Engineeringmama
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 Posted: Thu Feb 14th, 2008 07:12 pm

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My D applied to 4 schools that use the CSS Profile.  One school uses IDOC and I sent in those documents.  Another sent us the information that they want us to send our tax return directly to them. 

I'm wondering what to do about the other two schools.  Do you think that I can call the schools and ask if they want our tax returns?  Should I have my D call?  She's really busy and it's hard to get her home during business hours.

CarolynLawrence
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 Posted: Thu Feb 14th, 2008 07:28 pm

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It never hurts to ask. It is fine if you call the financial aid office. They're used to parents or prospies calling. Of course, it's never too early for your daughter to learn about how the financial aid process at different schools works either. ;)

Last edited on Thu Feb 14th, 2008 07:28 pm by CarolynLawrence

jocelynDAD
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 Posted: Thu Feb 14th, 2008 11:58 pm

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I would call the FA office and inquire if your D's data is complete or if there is some information that is outstanding!

They will happily check your D's file and advise you.  If Income tax forms are desired, remeber to include the w-2 forms as well.  Also if your D filed income tax, send her's as well.

Engineeringmama
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 Posted: Sat Feb 16th, 2008 04:02 pm

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Thank you, I'll try to have my D call next week.  She's off Monday, I wonder if the schools she is interested in will be open. 

outwest
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 Posted: Sat Feb 16th, 2008 07:17 pm

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I apparently made a huge faux paux. I double checked everything that every one of my Ds colleges FA departments required. I mailed off W2s and 1040s, random forms some colleges requested and completed the IDOC requrement for the two schools that wanted that. I even resent a corrected fafsa with final figures. I paid for priority mail and got certificates of mailing. I felt relieved that it was done (seven schools - WHAT A PAIN).  A couple days ago in an anal, panic mode  (financial aid deadlines are looming) I rechecked all her schools. NOwhere in Lewis and Clarks information does it require either a signed copy of the 1040 or a W2. Well, they got one. Since my D was already admitted there with a merit EA, I guess I didn't pay as much attention to it initially.   

What will they do with it? Just throw it in the trash? How can they not want it anyway? People could just say whatever they wanted on the fafsa. Without proof, how can they be so sure?

jocelynDAD
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 Posted: Sat Feb 16th, 2008 11:29 pm

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Outwest:  Be careful, be very careful re the FAFSA.

Quote "If you purposely give false or misleading information, you may be fined $20,000, sent to prison or both."

That is part of the certification that the student agrees to when he/she signs when the FAFSA is submitted.:X

Northeastmom
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 Posted: Sun Feb 17th, 2008 12:19 am

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Outwest, I thought that fafsas are randomly chosen for verification later (I thought it was close to a 1/3 that are verified against tax returns). I could be completely mistaken.

Just checked. I guess I was basically correct. Here is a link from the U of Wisconsin about verification:

http://www.uwsp.edu/finance/verification_of_FAFSA.shtm

 

Last edited on Sun Feb 17th, 2008 12:23 am by Northeastmom

outwest
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 Posted: Sun Feb 17th, 2008 01:03 am

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Good thing we didn't lie on the fafsa. :P
All of my Ds schools wanted signed copies of the 1040 and W2s except for L and C. I guess they eyeball everyone.

Last edited on Sun Feb 17th, 2008 08:21 am by outwest

Thumper
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 Posted: Mon Feb 18th, 2008 08:56 pm

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Some schools require signed tax returns as part of their application process and others don't. Wouldn't it be nice the financial aid application process was uniform across all colleges? I wouldn't worry about sending something extra (like those tax returns)...that's better than forgetting something!!

leftcoast
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 Posted: Tue Mar 4th, 2008 02:23 am

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If comparing need-based financial aid awards is an important part of the process of college selection, then I think it is very important to make sure that all colleges are working from the same information.   I know that Barnard found information on my tax return that they used to reduce our FAFSA EFC -- essentially an extra deduction off the FAFSA based on "professional judgment"..... and other colleges simply did not have that info in hand.  (In other words, I didn't follow the advice I am giving now.)

It is also important that the initial offer you get is based on the information that the college will be looking at when the award is actually written --- in other words, if there is a significant change between the FAFSA and the tax returns (you made more or less money than anticipated) -- it can cause an earlier estimated award to go up or down.  Again.... vitally important when you are trying to compare one offer against another. 

bumpyroad
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 Posted: Wed Mar 5th, 2008 05:34 pm

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When I had a mild moment of panic about the IDOC and sending tax forms etc., because I left out something called the Confirmation Worksheet (or something along those lines), I called the IDOC schools on my D's list and they all were reassuring that the confirmation stuff is only needed at the point when you're going to accept aid, even though they ask well before. And a couple of non-IDOC schools I called about sending in 1040s said that they don't need them until April.

When you're looking at the IDOC forms and letters it all looks very rigid, but I think the schools are not going to make or break the FA based on the IDOC materials. Not that I didn't feel a sense of relief to see that all was received and sent to the schools before March 1. And when they say it takes 5 days to process they mean it.


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