How many years will FAFSA supply financial aid for college tuition?
The Free Application for Federal Student Aid (FAFSA) is used to apply for financial aid from the federal government, state governments and most colleges and universities. The federal aid is subject to a 150% timeframe restriction, which limits it to no more than 150% of the normal timeframe to obtain a degree, such as 3 years for a 2-year degree and 6 years for a 4-year degree. However, there are ways around this restriction, such as switching degree programs (e.g., from an Associate's degree program to a Bachelor's degree program).
If I owe student loans can I collect lottery winnings?
If you get a job, is the federal government going to take your money from your paycheck? (I mean besides taxes.) Of course not. Money you receive is your money. You're only responsible to pay your taxes from those winnings. Do yourself a HUGE favor - DON'T buy any more scratch tickets! You could be one of the very few people in the whole world who could say they've actually MADE money from the lottery if you stop now. Here's something you should know: Lottery companies keep 50% of all money they take in! In other words, for every $100,000 the make from sales, they only pay out around $50,000 to winning tickets. (Like to lucky people like you who occasionally win something.) This 50% number WILL hold up in the long run. If you continue to play, you will eventually give back all that money. If you don't believe me, KEEP TRACK! On one side of a piece of paper write "spent", and on the other side write "won". You can start the "won" column with a nice big number - probably about $1,100 after taxes that you'll actually get. Every time you win more, add that to the $1,100. Every time you buy a ticket put that amount in the "spent" column. Eventually, you will see that your profit has disappeared. I really hope that you take my advice of NOT playing any more. If you don't, then at the very least keep track so that someday you'll see I was right about this. Congratulations on your win! Don't worry about the feds getting any of this money because of your student loans.
Im going into college, but i dont know what i want to be!?
When i sit and think about what i want to be, i come up with a billion choices, and it is really frustrating. I want to be everything in life and do it all. I know that really isnt possible, but how can i narrow down my choices on what i want to be in life.
I want to go back to school, but I owe my old college $4,000 So I can't get my transcripts. Can I just exclude this college from my application?
Step One, just pay the 4K. That debt won’t magically disappear, and eventually you can get in serious trouble. As in the amount accumulating interest and a court judgement garnishing your wages.Step Two, provide the transcript.
My fafsa was suspended, will i get financial aid if i transfer? where can i get a student loan with no cosign?
Fafsa is the name of the form you fill out to apply for financial aid, did you mean that your financial aid was suspended? If so for what? Usually financial aid is suspended for one of two reasons, the first is for behavior reasons, such as insolence to a professor, racism or discriminatory behavior or hate crimes. There are also many suspensions for alcohol and drugs on campus as well as the federal suspension of financial aid to those who have been convicted for any drug charge (yes including being caught with small amounts of pot in many cases) Usually if you are under suspension for one of these reasons, as long as you do not have an arrest record, the financial aid suspension only is for the specific school that you had the behavioral infraction at. If you have poor grades, thats a different story and you will not be able to get financial aid until you pay for classes with your own money and bring your GPA back to both federal and your schools guidelines. There is no need to argue with the financial aid office on grade policy as the people in charge there believe that it is your responsibility to maintain a high GPA no matter what the excuse. I work/study in my colleges financial aid office and you will find that most financial aid officers hold absolutely no pity for people that have poor GPA's and in fact will treat you rather poorly (dont know why i guess it is because they figure that you will never graduate and are just wasting their time) One of the reasons that this attitude is so prevalent in today's colleges is because of the liberal drop dates allowed at most institutions. At almost every college in the US you can drop a course as late as 2/3 the way through, so the prevailing attitude is how can anyone receive a "D" or "F" in a course, you are pretty much expected by the establishment to drop any course you do not have an "A" or a "B" in 2/3 the way through the semester. (this attitude is relaxed a little in the colleges of engineering and hard science where one would be expected to drop with a "B" or "C" midway through the semester and to retake any math or major classes where a "C" or less was earned.
Can you get federal financial aid if you owe taxes?
Owing federal income taxes will not prevent you from qualifying for federal student financial aid.Failing to file a required federal income tax return, on the other hand, will prevent you from receiving federal student aid. The Free Application for Federal Student Aid (FAFSA) requires income and tax information from the prior prior year. Most applicants should have already filed a tax return for this year by the time they file the FAFSA. (The main exception is members of the U.S. Armed Forces who are on active duty in a combat area.)If you indicate on the FAFSA that you are not going to file a federal income tax return, but your income is above the IRS filing thresholds, that is considered conflicting information that must be resolved before financial aid can be disbursed. Usually, the only way to resolve the conflicting information is to file the federal income tax return.The college financial aid administrator will then require that you either use the IRS Data Retrieval Tool when completing the FAFSA or provide an IRS Tax Return Transcript by using the IRS Get Transcript tool or by filing IRS Form 4506-T.If your income is below the IRS filing thresholds, the college financial aid administrator will want you to obtain a Verification of Non-Filing Letter from the IRS. This can usually be obtained through the IRS Get Transcript tool or by filing IRS Form 4506-T. This letter will confirm that your income, as reported to the IRS on W-2s and 1099s, is below the IRS filing thresholds. The financial aid administrator will also want to understand how you were able to survive on such low income.This issue arises in several situations:The applicant or the applicant’s parents (if the applicant is a dependent student) are tax protesters.The applicant’s parents are undocumented and are afraid to file a federal income tax return. The IRS cannot share tax information with other federal agencies. Filing a federal income tax return will not cause an undocumented individual to be deported. Undocumented individuals can obtain a Taxpayer Identification Number (TIN) to file a federal income tax return if they don’t have a legitimate Social Security Number.The applicant or the applicant’s parents have not filed tax returns for years, perhaps because of financial issues. There are accountants who specialize in helping people fix such problems. Often, the situation isn’t as bad as people fear. Sometimes, they are due an income tax refund, instead of owing a tax debt.
What happens if you don't pay the last payment of your college tuition?
It may vary by state or country, but I know in the University System of Georgia, if you have a remaining balance, you will not receive your degree if you graduate, the college or university will not release your transcripts to another college or employer, and you cannot re-enroll at the college or university for the next year until the balance is paid. After a year, the balance is sent to a debt collector and penalties and interest can be added to the balance until paid off. The debt collector can also take legal action such as taking you to court, having your wages garnished, and having you reimburse them for the legal fees. It can also show up on your credit report as in collection, which can mean that you could be rejected for a loan and even employment. My advice to you is to contact the college and see if you can work out a payment plan.
I can't afford my student loans... should I commit suicide?
I don't have many other options. Fleeing the country, suicide, and the military are the only ways out. But the military won't even pay half of my six figure debt. Oh, and it's six figures because of Sallie Mae interest.
I need help with college grants. fafsa and cal grant?
ill be going to college and i am eligible for both but i want to know is how often do i get the money?(yearly or every semester) and also my calgrant seems to be on hold for a school im not sure ill go to, is there a way to change that to the school im for sure going
I want to study abroad, but I do not have enough money. What can I do?
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