File the 07-08 FAFSA and then meet with the financial aid officer to
discuss your 2007 income and ask if they will make an adjustment.
Steven B. Blank
College Financial Aid Consultants
29 Ives Hill Court
Che****re, CT 06410
(203)250-7761
me@[EMAIL PROTECTED]
said the following on 8/24/2007 1:46 PM:
> Steve Blank <steve@[EMAIL PROTECTED]
> wrote:
>
>> Assets not re****table for the FAFSA include any tax deferred retirement
>> accounts like IRAs, 401Ks and annuities. Also excluded is cash value of
>> life insurance policies, equity in the home, and personal possessions
>> like cars, jewelry, etc.
>
> OK
>
>> Re****table assets include cash, checking, savings, CD's, stocks, bonds,
>> mutual funds, real estate, trust funds, etc.
>
> OK
>
>> The FAFSA computations also have an asset protection allowance based on
>> your age and whether married or not. A 49 year old has an allowance of
>> $19,200 if single, or $47,600 if married. Only assets over those
amounts
>> are used in the computations.
>
> I am 49 and single....never married
>
>> Also, you say you were laid off December 2006. The FAFSA will ask for
>> your 2006 income to project your ability to pay for college in the
>> 2007-2008 college year. You must re****t the 2006 income on the FAFSA,
>> but if your total 2007 income looks to be significantly lower you
should
>> make the financial aid office aware of this. They are not required to
>> adjust your aid eligibility, but can do so if they choose.
>
> I have had NO income in 2007 as I've been going to
> school and paying totally out of pocket. Advice?
>
> BTW.... BIG thanks for the help! This is all new and
> strange to me and something I should have pursued
> months ago but have been so busy with school and such
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