So I'm looking at prospective colleges (i'm a junior) And for Financial Aid the schools asks for you to turn in your family's tax returns and your own if you work. In this case, the more poor I seem the better!!!
I live in a household with a family of 4. My mother doesn't work ($0 gross income) and my father has a job and according to the tax returns he has $93,000 gross income. We only pay like 6,000 in taxes.. maybe less. Do you think that I could get a large amount of financial aid?
In my job I earn $10,000 gross income. And only pay like $900 in taxes, i'm not sure, our family accountant does it for us.
2007-12-02 14:49:42 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
oh so my own tax form won't count because it's like a joint savings/checking account. so it's only 93,000 for a family of 4 that has 3 cars and mortgage.
2007-12-03 11:09:59 · update #1
i hate to break it to you, but since your dad earns 93K and you earn 10K, you won't be getting much financial aid, even though your mom doesn't work.
you'll get some, but not much.
2007-12-02 14:58:02 · answer #1 · answered by nDn.DiVa 2 · 2⤊ 0⤋
With a combined family income in excess of $100,000 per year you're definitely not in the ranks of the poor. Needs-based aid will be little or none, though you will be able to get some student loans most likely.
2007-12-02 15:32:01 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
if you get any financial aid, it will be in the form of scholarships. start researching them now and as soon as spring comes start applying like crazy.
2007-12-02 15:11:16 · answer #3 · answered by busymomkaren 5 · 0⤊ 0⤋