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Author Topic: FAFSA question  (Read 691 times)

h2xblive

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FAFSA question
« on: February 08, 2007, 10:15:57 AM »
I may have to fill out a FAFSA after all, but I have a few questions, which I'm sure will be the first of many...

I can submit the FAFSA with estimated 2006 tax information, right?  Then after submission, make changes after my 2006 taxes are officially complete?

Once everything is done, and I get awarded XYZ loans, but for some reason, I decide I don't want or need them.  I can just refuse them, right?  If so, what do I have to do?  Just ignore the award, send the schools a no thank you e-mail?

Vick

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Re: FAFSA question
« Reply #1 on: February 08, 2007, 10:22:07 AM »
I may have to fill out a FAFSA after all, but I have a few questions, which I'm sure will be the first of many...

I can submit the FAFSA with estimated 2006 tax information, right?  Then after submission, make changes after my 2006 taxes are officially complete?

Once everything is done, and I get awarded XYZ loans, but for some reason, I decide I don't want or need them.  I can just refuse them, right?  If so, what do I have to do?  Just ignore the award, send the schools a no thank you e-mail?

Yes.  You can submit the FAFSA with estimated amounts and then make the changes later.  I haven't done this personally, though.  It might just be hearsay. 

If you don't want the loans then you can refuse them.  It's different for each school, but for my undergrad my loans were posted on my student account.  I then had the option of accepting or rejecting them.   

h2xblive

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Re: FAFSA question
« Reply #2 on: February 08, 2007, 10:23:08 AM »
I may have to fill out a FAFSA after all, but I have a few questions, which I'm sure will be the first of many...

I can submit the FAFSA with estimated 2006 tax information, right?  Then after submission, make changes after my 2006 taxes are officially complete?

Once everything is done, and I get awarded XYZ loans, but for some reason, I decide I don't want or need them.  I can just refuse them, right?  If so, what do I have to do?  Just ignore the award, send the schools a no thank you e-mail?

Yes.  You can submit the FAFSA with estimated amounts and then make the changes later.  I haven't done this personally, though.  It might just be hearsay. 

If you don't want the loans then you can refuse them.  It's different for each school, but for my undergrad my loans were posted on my student account.  I then had the option of accepting or rejecting them.   

It's different in ways of refusing them, or it's different in that some schools won't let you refuse them?

Vick

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Re: FAFSA question
« Reply #3 on: February 08, 2007, 10:33:10 AM »
I may have to fill out a FAFSA after all, but I have a few questions, which I'm sure will be the first of many...

I can submit the FAFSA with estimated 2006 tax information, right?  Then after submission, make changes after my 2006 taxes are officially complete?

Once everything is done, and I get awarded XYZ loans, but for some reason, I decide I don't want or need them.  I can just refuse them, right?  If so, what do I have to do?  Just ignore the award, send the schools a no thank you e-mail?

Yes.  You can submit the FAFSA with estimated amounts and then make the changes later.  I haven't done this personally, though.  It might just be hearsay. 

If you don't want the loans then you can refuse them. It's different for each school, but for my undergrad my loans were posted on my student account.  I then had the option of accepting or rejecting them.   

It's different in ways of refusing them, or it's different in that some schools won't let you refuse them?

I'm sure it's different for how the schools let you refuse them.  The school will have some way of telling you how much you qualify for before you accept them. 

h2xblive

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Re: FAFSA question
« Reply #4 on: February 08, 2007, 10:34:40 AM »
I may have to fill out a FAFSA after all, but I have a few questions, which I'm sure will be the first of many...

I can submit the FAFSA with estimated 2006 tax information, right?  Then after submission, make changes after my 2006 taxes are officially complete?

Once everything is done, and I get awarded XYZ loans, but for some reason, I decide I don't want or need them.  I can just refuse them, right?  If so, what do I have to do?  Just ignore the award, send the schools a no thank you e-mail?

Yes.  You can submit the FAFSA with estimated amounts and then make the changes later.  I haven't done this personally, though.  It might just be hearsay. 

If you don't want the loans then you can refuse them. It's different for each school, but for my undergrad my loans were posted on my student account.  I then had the option of accepting or rejecting them.   

It's different in ways of refusing them, or it's different in that some schools won't let you refuse them?

I'm sure it's different for how the schools let you refuse them.  The school will have some way of telling you how much you qualify for before you accept them. 

Ok, thanks.

h2xblive

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Re: FAFSA question
« Reply #5 on: February 08, 2007, 08:18:30 PM »
More questions:

By completing the FAFSA, does it affect any merit based scholarships that a school I'm applying to might give out?  By doing the FAFSA, can the merit based scholarships I've already been awarded be increased, or even reduced?

Also, what affect, if any does the FAFSA have on schools I'm still waiting an acceptance/deny decision from?  I assume it doesn't have an affect.

I know I can submit my FAFSA with estimates, but what happens if I submit my FAFSA and get back an SAR before I've completed my 2006 taxes?