100% of the income my parents received last year was social security. My dad is disabled and neither work.
Last year they were not required to file their taxes.
Right now I’m trying to apply for financial aid.
It says I need copies of their Federal Income Tax forms, W-2 forms, ect.
Which documents are they supposed to have? Do they have either of these? I called my mom and she says she doesn’t have either since they didn’t have to file. Is she wrong?
Some parents have low taxable income certain years for different reasons. Often we have minimal taxable “income”, yet a substantial net worth. Does anyone know how in depth the financial aid departments look at a parent’s net worth or is “income” generally the larger deciding factor? Of course “income” is always considered. I am asking if anyone knows how financial aid offices view high net worth – low (taxable) income situations?
My parents wanna buy a house but we are worried about my college financial aid…
anyone plz help me on that, thank u~~
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