Is a Gift Untaxed Income for FAFSA?

Answer Every year, students who wish to receive financial aid need to submit the Free Application for Federal Student Aid (FAFSA). This form gathers information about the student's and parents' income and... Read More »

Top Q&A For: Is a Gift Untaxed Income for FAFSA

What Counts As FAFSA Income?

The Free Application for Federal Student Aid (FAFSA) looks at a student's available assets and determines the amount of money that student is qualified to receive to help pay for college. It is imp... Read More »

What is the income limit for FAFSA?

There is no income limit for receiving financial aid. The formula is based on various factors including income, assets, and the number of people (other children) classified as dependents. FAFSA re... Read More »

Maximum Income for FAFSA?

Technically, your parents could be millionaires and you might still receive significant amounts of financial aid. While income plays an important role in federal student aid it is not the sole dete... Read More »

FAFSA question 80 about parents' income tax?

They want your parents tax liability for 07. This is NOT the amount that was withheld on their W2s. It is also not the amount your parents had to pay or received after filing taxes for that year.... Read More »