Income varies annually-financial aid question
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Anonymous
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How far back do schools/FAFSA want tax returns for calculating financial aid?
Our income varies quite a bit from year to year. And is it calculated on gross or net income? Thank you. Signed self employed mother to a junior |
Anonymous
| The prior year. So if he's going to college in the fall of 2016 you'll provide info off your 2015 tax returns. |
Anonymous
| Be sure to include a lot of expenses and the money (profit) you invest in your consultancy or business. Declare only what is necessary. |
Anonymous
| Be prepared: FAFSA is not kind to business owners. Also, the individual school's net price calculators are often inaccurate to business owners. |