Financial Aid questions?

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  • Financial Aid questions?


Answer #1 | 20/12 2013 09:03
Unless you make an exorbitant amount of money at your part-time job, your financial aid should not be affected a huge amount...especially if you are still a dependent student as your parent's income is considered mostly.
Positive: 28 %
Answer #2 | 20/12 2013 11:50
Let's say you work as an independent contractor -- if you make over $400 in a year, then you are required to file all taxes & this includes social security taxes as well as state & federal the people you work for are required to report all employee income & all contractor pay-outs if you do not give your employer your SS# & they are smart, they will immediately fire you because they are in violation of federal law to obtain I-9 info on all employees You can go to prison for defrauding IRS & you can go to prison for fraudulent reporting on your FAFSA --- Don't do this --- unless you prefer to spend a great deal of time in prison jumpsuits followed by paying of $10,000 in fines for each semester that you wrongfully received grant funding not to mention the fines for IRS fraud If it helps you to know... my son has a friend who tried not reporting some income in order to receive grant funding.... it took over a year before he got caught --- it cost his parents over $30,000 to fix the problem & keep him from being thrown in prison for several years ---- on top of what they paid, he is banned from using federal & state fin aid so the only way he can go to school from now on is to pay out of pocket
Positive: 22 %

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