NSLP National Student Loan Program CREDIT AND DEBT
Living within a budget
Using credit wisely
Types of credit cards
Terms and conditions
Paying your credit card bills
Your credit history
Getting in step with a loan
Paying for school
Repaying student loans
Understanding taxes
  Education credits and deductions
Dealing with debt

The FAFSA asks for very detailed information about your finances and your federal tax returns, which is why you should complete your taxes before applying for federal aid. Once you’ve completed your tax return, answering more complicated questions on your FAFSA is just a matter of transferring numbers from one worksheet to another.

Here’s a list of items you’ll encounter on your FAFSA, and where you can find them on your tax return:

 
Learn More

The IRS provides three forms for your tax return.
Click here to learn more!

If you’re a dependent and applying for financial aid, you’ll have to provide your parents’ or legal guardian’s financial information in addition to your own on the FAFSA. If you’re married and file your taxes jointly, you’ll have to include your spouse’s information alongside your own.


The FAFSA will also ask for information on your untaxed income. That includes earned income credit, any child support or welfare benefits you may receive, as well as income from municipal bonds, other tax-exempt investments, and your retirement contributions.

 

 

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