My stepdaughter is 20 and she says she needs our 1040 tax form for her fin. aid.?

Question

Is this normal? I don't know how comfortable I am making copies of our taxes and giving it to complete strangers and why is this necessary if she is an adult

Answer 1

This is normal. Even living on my own at 20, I had to provide proof of my parents income to get financial aid. This continues at least to age 21, and in some circumstances, it may continue past that. As for the why, the finacial aid groups generally still consider a student to be under the care of the parents until they hit 21 (just like some medical care programs!)

Answer 2

This is a requirement for federal financial aid. They select a certain percentage of applicants to provide proof of income. If she does not meet the requirements to be considered a non dependent for financial aid purposes (over the age of 23, in the military, or a parent) she is required to provide your 1040 to the school financial aid department in order to qualify for aid. It doesn't matter if she is living on her own and supporting herself.

Answer 3

She may or may not need it. If she is living under your roof, and are providing for her education, then yes they will need to see the 1040 form.

This is usually only used to determine how much financial aid the federal government will give her. I am a current college student and I have to show my federal tax return every year in order to reapply for my Federal Pell Money.

Answer 4

Because until they are 23 children need to claim parent's income when filing for financial aid unless of course they are married or have children of their own... If you talk to an accountant there are some things you can do but it involves going to court and getting lawyers, it's really not worth the hassle

Answer 5

If she's your dependent, then she needs your tax information to show that she has financial need. And she's not "giving it to complete strangers." The only person that should see it is someone from the financial aid office at her school. They're professionals, they don't show your tax info to other people.

Answer 6

if she's living at home, your income is considered in determining her financial aid. I forget what the criteria is for excluding parental finances in financial aid calculations. She would have to prove that she gets no support from you. Call the financial aid office to determine how to prove it.

My parents had to submit that info every year. It's not a big deal. Ask them what, if anything you can black out to make yourself more comfortable.

Answer 7

I am not sure what schools these other people are attending, but when our daughter moved out, (and because of the circumstances), we refused to pay for her school. She went to the financial aid department and they never once asked for her parents proof of income. She told them she didn't live at home. And that was that. If your daughter doesn't live with you than she can get her own loans and her own financial aid.

Answer 8

The FAFSA which is filled out for all aid applications requires the parent's tax information - unless the student is independent and self supporting.

Answer 9

Yes due to the dumb financial aid laws in this country, a person is not considered an independent(adult) until the age of 23. The only way to bypass this is either, she gets married, or joins the military.

So unfortuneatly to get financial aid she will have to go by her income as well as her parents income.

Answer 10

Yes this is normal. When I turned I believe it was 23 then fin. aid was based on my income and not my parents. Watch out because you may be responsible for payment.