I have turned in my notice at my job so that my focus can be on school - completing the last 10 months I have. I have given a 4 week notice then I will work temp jobs until I go to the police deptartment when I have completed school..
I understand the Fed. Loan stuff and the cap but how can I maximize out on the amount I get from the school as in grants and such? Meaning - my financial aid info for school is due to be completed this week and I am still employed but since I wont be employed in 4 weeks do I put my employment/income on the financial aid stuff or put that I dont work?
I am confused on if putting that I am employed wont matter on the amount I receive in aid????Advice? FAFSA? I soon will be leaving my job to go back to school?
You will want to talk to your financial aid office. At my school, you can ask for a review of your financial aid 8 weeks after there has been a significant decrease in your income. We called it a Contribution Appeal. Basically, you are appealing the amount you are able to contribute to your education. Eight weeks is a long time to wait but a lot times they are able to reduce your loans and give you more grant money. You may not always get more money in your pocket but at least you will owe less in the long run. Go talk to the financial aid office and ask them if they have anything like this.Advice? FAFSA? I soon will be leaving my job to go back to school?
Well, it doesn't matter if you're employed or not. The problem is that they look at your last year's tax return and the amount in your bank accounts. If you have made even a modest amount of money, you're not getting a grant. you will get an offer for a loan, which doesn't have anything to do with your income. You may get work study as well, but that's dependent of income level.
First and foremost it is a good thing that you are returning to school. But you can work for the police department and go to school at the same time. I understand that you will be a higher rank and get higher pay if you have a college degree. But in this day and age, it is kinda ';dangerous'; to work temp jobs because they are not guaranteed (well, actually, no job is guaranteed). Based on your '06 return will determine how much grant money you can get and it will be low because you worked full time last year. Whatever the difference may be, then that is what you ask for in the amount of the student loan. If you continue to work on a part time basis, then you should get a higher amount in grant money for the '08-'09 school year. Also because your amount will be low this school year, go to your local library and look in the reference section for grants. You can get money for your heritage, your family past employment (if your parents were police officers) or if you have done any community service work. I hope this helps and good luck to you!
It will not matter when you receive the aid. They will use your tax return from last year anyway to determine how much aid you qualify for.
Then you can maybe amend it later when you are no longer working. Or maybe the can Prorate it some how...Good Luck!
You will have to submit your tax return for the previous year. some schools also require you fill out an additional application through a program like Needs Access (http://www.needaccess.org/) that also asks for financial info. I'm going through all this now and can assure you that it all needs to be put on the table before the process is done. If you are an independent student (grad level or over 30 yeras old) that is factored in as well. Since I'm still 25 and claimed residence at my mother's house I also had to submit her tax return numbers to Needs Acces/the school (but not FAFSA), since they make calculations based on household income. Hope this helps.
Your aid will be based your 2006 tax return. Nothing from this year will matter in your situation.
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