FASFA Form to school

Question

I don't know what to do. I was just accepted to my top MBA program off of the waitlist; however, it is more expensive than the program I was previously set on and I need to take out student loans. I definitely didn't lie on my application, but if the school sees my tax returns they will not match the income I stated on my application. I am an entrepreneur and took a between part time and full time day job (about 30-35 hours/week) with a family member's small business (essentially as an executive assistant/accountant/client manager) in order to earn money while growing my business. A big part of my "income" from the job was my relative allowing me to live with he and his family rent/utilities/groceries free. We calculated this to be about $1250/month. I also earned a lot of "bonuses" which are not reflected on my tax return. Truth be told, my relatives are successful and very generous and just wanted to give me money. Because this was a family situation, neither I nor my aunt and uncle reflected any of this on a tax return. I worked with an MBA consultant who told me it would be fine to list this as income, so I did it and now I do not know what to do. Is it best to just explain it to the financial aid office? My application was VERY upfront that, besides working on my entrepreneurial project, I had a day job of working for a relative's small business. Thoughts?

bb · Answer

Hi. I would consult about this with the admissions consultant you have worked with. They have suggested it and i would clarify it with them.

FASFA Form to school

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