College Financial Aid – FAFSA – Lying on this program is No No

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Many will lie in the financial application of the university. Many parents and students believe that no one will find out if they do. This is about as far from the truth as you could possibly get. Yes, some people can get away with lying and cheating. There is a chance, however, a very good chance that you will get caught.

Colleges have the right to review you and your family whenever they feel the need to do so. Just as the IRS can offer you because they think you are not paying enough in taxes, college can audit you as well. They all you for the opposite reason, though, is to see if you are getting too much assistance for college tuition phone.

Colleges and universities called this process of verification, no appraisal as IRS. Many students are required each year to submit and detail, all financial information of her family.

It is estimated that at least a third of the students who apply for financial assistance must go through a validation process. This has nothing to do with race, age or gender. It really does boil down to a lucky and who is not. They will require that you bring all your paperwork that you have used to get the information to fill out your FAFSA. This information will be used to compare with the original numbers that you have submitted. If they are off, EFC, your expected family contribution, will be changed. This will affect your ability to borrow money for college.

Colleges have no choice but to confirm this information. The government requires that random confirm a third of the students who apply for financial assistance. You can be 18 years of age to apply for the first year of college, or you might be 32-year-old veteran going back to school, and it does not matter.

Red flags on financial applications will also raise questions. If you announce that you have $ 250,000 in the bank, and you make $ 30,000 a year income, this is a red flag. Many colleges and universities will review financial aid applications themselves, do not have anything to do with the government.

The best way to do this is to be honest 100% of the time. You should submit the same numbers on your FAFSA as you do your income tax returns that are filed each year for the IRS. You will be able to sleep much easier at night knowing that you have been completely honest, even if it means that you can not get any financial aid.

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