How do back taxes affect fafsa/css profile?
Yo. This is actually a serious situation my cousin finds himself and I’m hoping people on this forum might know the answer. My cousin’s father, my uncle, owes about $20,000 in back taxes and has about $100,000 in annuities. With figures like that it would seem like it very negatively affect my cousin’s chances for need based federal and institutional aid. My cousin, a senior in high school, asked me what he should do and I told him he may have to apply to fafsa only schools even though the schools he wants to go to require the css profile (He is especially looking at Oberlin and Whitman.). However, I’m not sure if applying to fafsa only schools would help. His father doesn’t live with my aunt and cousin but my aunt and uncle never divorced. Therefore, my uncle’s debt and assets would have to be reported on the profile. How would his back taxes affect fafsa schools and/or css profile? And, also, is there anyone who has any information on how annuities affect financial aid. Thanks in adv
