This is the most important month for many students who are filling out FAFSA for the 05-06 year. As I began filling it out some questions came across my way and I wonder if anyone can help me with those?
1. For the student section of the application it asks for income, income tax. In one of the Worksheets there is a question that is stated as such "Money received, or paid on the behalf of the student (such as bills) that are not reported elsewhere on the form". I am wondering if a student lives with parents and those parents pay for some of the monthly expenses of that student, would that be beneficial to list such $$ amounts or leave it a 0? What are the consequences of showing an actual number?
2. Another question I faced was the income tax for the parent income. The question prompts me to enter the total amount of parent income tax for the particular year. What does it mean? Does it mean the total income earned, or is it the total tax paid during that year ( I assumed those were the Fed and State tax witholding)???
PS if you choose to repond you may type in Russian, as for me I did not have an option on my computer.
HELEN
