Hey guys, I need some help with my FAFSA application. What financial documents and information do my parents need to provide for it? I just want to be prepared and make sure we don't miss anything important. Thanks!
Hello! It's essential to have all the necessary documents and information ready when filling out the FAFSA. Here is a list of financial documents and information your parents will need to provide:
1. Social Security numbers: Both you and your parents need to provide your Social Security numbers. If your parents don't have Social Security numbers, enter 000-00-0000 when the FAFSA asks for their numbers.
2. Alien Registration numbers (if applicable): If your parents are not U.S. citizens but are eligible non-citizens, they'll need to provide their Alien Registration numbers.
3. Federal tax information: Your parents will need their most recent federal income tax returns. This often includes the IRS Form 1040 or any other relevant forms, along with their W-2s and any additional documents pertaining to their income. If they are eligible, they can use the IRS Data Retrieval Tool to import their tax information directly into the FAFSA.
4. Records of untaxed income: This includes any untaxed income such as child support received, interest income, and veterans non-education benefits.
5. Asset information: Your parents will need to provide information on their current assets, including balances of cash, savings, and checking accounts, as well as the net worth of any investments such as stocks, bonds, and real estate (excluding their primary home). Additionally, they will need to report the net worth of any businesses or investment farms they own.
6. FSA ID: Both you and one of your parents will need to create a Federal Student Aid (FSA) ID to electronically sign the FAFSA. You can create an FSA ID on the Federal Student Aid website.
Make sure your parents have these documents and information readily available when they sit down to complete the FAFSA with you. This will streamline the process and help avoid any delays. Good luck!
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