Reply to Our EFC is 500,000????

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Filling out the fafsa is so easy there is no reason not to unless you have zero need for loans and/or your school doesn't require it for any school based or merit aid.

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I did not find it that *easy*.  Maybe it's easy if you have almost no assets. Also, I'm self employed, so I wasn't even sure what income I should use.[/quote]

Our financial situation is pretty complex, but I recall that the FAFSA wasn’t difficult. As I recall, I just linked to the IRS, and all of the income info was downloaded automatically. I had to enter assets, but I calculate the value of our investments at least monthly, so that was straightforward. [/quote]

Doing the taxes is the heavy lifting, FAFSA just requires some numbers pulled explicitly from the return, there's no ambiguity.  But if PP is keeping two sets of books, sure, not really a self employment thing.[/quote]
? when I was not self employed, filling out stuff like this was easy, like it is for most people.  Also, yes, I did link the FAFSA to the IRS, but there were still things I had to figure out. If you only have one retirement account and checking out, then it's super easy. But we have multiple accounts across both my spouse and I.

Being self employed makes it harder because you don't know if you are supposed to report business income (which is all yours since you are self employed) or your income from the business minus business expenses.  I had to google it but most of the research was a bit unclear.  My spouse also has assets in another country; not a lot, but are we supposed to report that?  They want to know your contributions to your 401k. Does that just mean my contribution as an employee or both as an employee and employer?

So, yes, being self employed made filling out FAFSA and CSS more complicated.  [/quote]

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