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How do I report taxable income from financial aid?

If my parents are divorced, do i have to report both of their incomes when applying for financial aid?

  • My parents have joint custody, but I live with my mother and have little contact with my father. If I were to only report my mother's income, I would probably receive the aid that I really need to help with expenses. However, if I were to report both of their incomes, it is unlikely that I would receive any aid. Additionally, I do not expect to receive very much money or help from my father when I am in school. Thank you very much.

  • Answer:

    from what i understand just the one you live with

Jessi at Yahoo! Answers Visit the source

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the FAFSA (Federal Application for Financial Student Aid) does require both of your parents incomes.

mike p

nope- just who you live with & any child support dad pays

"You report the income of the parent who provides the most support to you. This is usually the one you live with. You would also list that biological parents spouse income (your step parents) if they are currently married. Who claims you on their taxes doesn't really matter. See attached book for more detail."

jbrams

I think it's just the one that you're living with. But in all honesty, you shouldn't believe anything on here - You don't want to break fraud law you'll get like, a million years in prison with the economic shape this country is in. Find out by giving the grant people a ring. Just in case. :-*

bruzaj01

I'm curious to find out what the answer is. I put off going to university because I couldn't get financial aid, my parents just flat out refused to tell me what their income was or let me see their tax returns. The person working at the financial aid office told me that I couldn't apply for financial aid without my parent's info until I was 24, but years later I found out there was some other paperwork I could have filed to declare myself "financially independent". Good luck!

maxnull

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