Will me not filing a tax return this year effect my financial aid?
This is the first time that I have not worked and will not be needing to file a tax return. But I am afraid that by me not filing one, it will have an effect on the grants and student loans that I normally receive every year when I fill out my fafsa. I do not want to lose any of my financial aid. Can someone help me? And also, are my federal student loans taxable?
Thanks your answers were really hepfull
Filed under: Retirement Planning
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universities.atwebpages.com – it has detailed info how to apply for financial aid and scholarships to get more cash.
are grants and financial aid for those who can’t afford the education? shouldn’t not filing without income be a benefit for your aid?
loans are not taxable, but if you don’t pay the off, you will be dunned for them eventually
Student loans are NOT taxable because that is NOT income. You have to pay those back..remember? As for the FAFSA, it will not really affect you UNLESS you try and claim ‘Independent" status. You cannot be Independent if you have no means to support yourself.