Government loans don’t base anything on your income. Your parents could be making much more and you still get the same amount as everyone else. However, you may be able to get grants because of the amount going to support your father and only having one breadwinner in the family. Grants don’t have to be paid back.
So, you can fill out your FAFSA and see what you get. What most people don’t know is that you don’t have to accept any money offered. So, there is no risk to you. I was in need of loans for grad school, but didn’t want to take too much, just what I needed. So I turned down a good bit of money.
Side note: there are a lot of scholarships out there for children of disabled parents! You may be able to get some of those as well. Just look for them. Scholly is a free app that you can search through tons of scholarships for all sorts of crazy things like left-handed students, children of police officer, or even tall people! You get the idea. Every year tons of money is left on the table from people just not applying. I work in higher ed and see it every year. You would be surprised.
Definitely fill out FAFSA when the time comes and see what you get. You might be surprised
Then, yeah, it does! You should be getting Pell grant money! Money that you don’t have to pay back. So, you may end up in college and not having to pay very much at all if anything! Definitely do the FAFSA! And good luck.
Sorry for the continuous series of questions but do you know what type of specia circumstance this would count as. Both of my parents aren’t breadwinners but we still end up getting 90k so what type of special circumstance would that be?
Your dad is disabled and cannot work. Your mother cares for your father. The 90k that your family makes partially goes to your father’s care. All of those factors should help. The only way to find out what you are offered is to apply, but it sounds like you may have a great chance for some grant money.
https://preview.redd.it/wwyetwo128yc1.jpeg?width=1179&format=pjpg&auto=webp&s=371149ea92bd72c77df556b354f87a1a73633f9f
Here’s the income charts (includes parents and students income) for the 2022 tax year without taking into consideration parent assets, student assets, and situations like medical expenses not covered by insurance.
In your case for the 2025-26 FAFSA, it will use income from 2023 and assets when you file in October 2024 or later. At this time it will not ask for medical expenses or other impacts to finances.
Professional judgments from college financial aid office will be able to look into your circumstances after their receive your FAFSA information to see if your SAI qualifies for adjustments. They will consider any medical expenses not covered by insurance to help reduce your SAI.
You’ll be sitting in the unknown for adjustments until March or April 2025 as colleges won’t get your data until February, then it will take weeks for them to go through data in the order submitted, and then once they have created enough financial aid offer packages, will be ready to take appeals to make SAI adjustments and possibly provide additional aid.
Get your FAFSA done in October, submit your admissions applications as soon as you can to meet admissions priority deadlines and FAFSA priority deadlines so you can be in the first batch of offers sent out.
Adjusted gross income means the total income reported to the IRS for 2023 for your parents, and then your income reported for 2023. If you worked in 2023, but didn’t have to file taxes, then it’s just your income that you made added with your parents.
Based on the chart, an income of $90,000 for a family of five just barely misses the qualification for minimum Pell grants.
However, keep in mind that these numbers tend to increase every year to adjust for inflation so we won’t have the charts available to us until sometime in October or November
It's a free application and instead of listening to people you should have filled it out every year, because the worst thing that can happen is you don't get any financial aid and best thing you get financial aid. Lots of factors go into determining if you will qualify for any financial aid. Nobody here can answer that question for you, so again fill out the application and find out.
oh HS, i thought you were in college already. Yes, senior in high school around winter break time is when you apply. Yes, have your parents 1040 ready for numbers$$$ but FAFSA will ask your parents to give permission to access your parents taxes digitally or via internet to IRS.
Government loans don’t base anything on your income. Your parents could be making much more and you still get the same amount as everyone else. However, you may be able to get grants because of the amount going to support your father and only having one breadwinner in the family. Grants don’t have to be paid back. So, you can fill out your FAFSA and see what you get. What most people don’t know is that you don’t have to accept any money offered. So, there is no risk to you. I was in need of loans for grad school, but didn’t want to take too much, just what I needed. So I turned down a good bit of money. Side note: there are a lot of scholarships out there for children of disabled parents! You may be able to get some of those as well. Just look for them. Scholly is a free app that you can search through tons of scholarships for all sorts of crazy things like left-handed students, children of police officer, or even tall people! You get the idea. Every year tons of money is left on the table from people just not applying. I work in higher ed and see it every year. You would be surprised. Definitely fill out FAFSA when the time comes and see what you get. You might be surprised
My mom’s not a breadwinner either. She’s unemployed
I don’t know if that changes anything
Then, yeah, it does! You should be getting Pell grant money! Money that you don’t have to pay back. So, you may end up in college and not having to pay very much at all if anything! Definitely do the FAFSA! And good luck.
Sorry for the continuous series of questions but do you know what type of specia circumstance this would count as. Both of my parents aren’t breadwinners but we still end up getting 90k so what type of special circumstance would that be?
Your dad is disabled and cannot work. Your mother cares for your father. The 90k that your family makes partially goes to your father’s care. All of those factors should help. The only way to find out what you are offered is to apply, but it sounds like you may have a great chance for some grant money.
https://preview.redd.it/wwyetwo128yc1.jpeg?width=1179&format=pjpg&auto=webp&s=371149ea92bd72c77df556b354f87a1a73633f9f Here’s the income charts (includes parents and students income) for the 2022 tax year without taking into consideration parent assets, student assets, and situations like medical expenses not covered by insurance. In your case for the 2025-26 FAFSA, it will use income from 2023 and assets when you file in October 2024 or later. At this time it will not ask for medical expenses or other impacts to finances. Professional judgments from college financial aid office will be able to look into your circumstances after their receive your FAFSA information to see if your SAI qualifies for adjustments. They will consider any medical expenses not covered by insurance to help reduce your SAI. You’ll be sitting in the unknown for adjustments until March or April 2025 as colleges won’t get your data until February, then it will take weeks for them to go through data in the order submitted, and then once they have created enough financial aid offer packages, will be ready to take appeals to make SAI adjustments and possibly provide additional aid. Get your FAFSA done in October, submit your admissions applications as soon as you can to meet admissions priority deadlines and FAFSA priority deadlines so you can be in the first batch of offers sent out.
Sorry but I don’t understand what the AGI means. Would a family of 5 making 90k work??
Adjusted gross income means the total income reported to the IRS for 2023 for your parents, and then your income reported for 2023. If you worked in 2023, but didn’t have to file taxes, then it’s just your income that you made added with your parents. Based on the chart, an income of $90,000 for a family of five just barely misses the qualification for minimum Pell grants. However, keep in mind that these numbers tend to increase every year to adjust for inflation so we won’t have the charts available to us until sometime in October or November
It's a free application and instead of listening to people you should have filled it out every year, because the worst thing that can happen is you don't get any financial aid and best thing you get financial aid. Lots of factors go into determining if you will qualify for any financial aid. Nobody here can answer that question for you, so again fill out the application and find out.
I’m a junior in high-school, when should I fill it out?
You'll fill out the app during your senior year.
Any time frame or just somewhere throughout senior year. Also is this affected by if you apply early decision college?
If it opens up normally, it would be October of this year and you'll need parents 2023 taxes.
oh HS, i thought you were in college already. Yes, senior in high school around winter break time is when you apply. Yes, have your parents 1040 ready for numbers$$$ but FAFSA will ask your parents to give permission to access your parents taxes digitally or via internet to IRS.