Some brief updates

Feb 13, 2007

Posted in: Afford

Prospective Freshmen Financial Aid Application Process -- IDOC Update! MIT records may indicate that your IDOC information (2006 tax information, etc) is not yet received by our office. Please be informed that although your IDOC packet may have been submitted some time ago, the earliest MIT will receive this information is Thursday, February 15th. If you have recently submitted your IDOC packet, please allow at least two weeks for the information to successfully reach our office.

Prospective Freshmen Financial Aid Application Process – 2005 vs 2006 Parent Tax Information. The financial aid application requires complete parent 2006 Income Tax information. The 2006 tax information should be submitted via the IDOC process (along with any other supplemental application materials requested). In the event that the 2006 tax information is not available for the February 15th application deadline, it is possible to temporarily satisfy this requirement by submitting the 2005 Income Tax Return along with 2006 W-2 forms. These should be submitted directly to MIT’s Student Financial Aid. Although we can use the 2005 tax information for a tentative review, as soon as the 2006 tax information is complete and ready, you must submit it via IDOC in order for us to finalize the financial aid review.

Comments (Closed after 30 days to reduce spam)

First Post !!!!!!!
HaHAHaHA........................
yipeeeeee
for first time

Posted by: bhushan lodha on February 13, 2007

Could you please give some updates about international students' financial aid?

Posted by: Hopeful on February 13, 2007

What if my parents haven't yed received a 2006 income tax return? It's unusual to have it by now in my country (I'm from Europe).

Posted by: Alexander on February 13, 2007

What if my parents are not tax payers?I have already sent their salary statement & Bank report, but we dont have any tax forms.
Will this be a problem in my financial aid application?

Posted by: yohini on February 13, 2007

My father hasn't yet received the final receipt of income tax returns, so in agreement with your office I have released a copy of 2004 and 2005 income tax return and a statement from my father's company stating that income tax till the month of december has been deducted from his salary.

So do I need to deposit the "W -2 Form", what exactly is it?
Actually I am from India and may be India we don't have any such kind of form .

Please answer at the earliest in case you wish to receive it by Feb 15

Posted by: Utkarsh Sharma on February 13, 2007

Is February 15th the day it must be postmarked by or the day it must be in by?

Posted by: Another guy named Daniel on February 13, 2007

I faxed the Business and Farm Supplement form on saturday but my status has still not been updated. Should I fax it again? and at what number?

Posted by: Amna Sarfraz on February 13, 2007

Bhusan, what's so special in being the first to post that u r so excited.

Posted by: 0 on February 13, 2007

umm, should we translate everything on the statement from the employer? because there are a lot of taxes in germany that definitely dont exist in america and there seems to be no name for them either. ive tried to translate them as best as i could, but on my financial aid tracking it says you still need the translation-what should i do now

Posted by: help on February 13, 2007

I am even confused. In Ghana we have nothing like like tax forms. The employer deducts it and pays it to the government without the employee seeing the cash at all. But it is all reflected on the pay slip, I have submitted that but my account still shows I have to submit tax forms.
I am confused please help.

Posted by: Solomon on February 13, 2007

So the 2005 tax return is not absolutely necessary then, as long as you have the 2006 tax return in, right?

Posted by: Mark Doss on February 13, 2007

So the 2005 tax return is not absolutely necessary then, as long as you have the 2006 tax return in, right?

Posted by: Mark Doss on February 13, 2007

So the 2005 tax return is not absolutely necessary then, as long as you have the 2006 tax return in, right?

Posted by: Mark Doss on February 13, 2007

my father gave me a letter from his boss , it contains his income during 2006 i sent that letter, but the mymit tracker says
Required for Packaging
* Parent's 2005 Foreign Income Tax Return
my mother is self-employed and the only owner, however she doesn't pay taxes because her business is small. so, i just sent the business/farm form from my mother, the letter from my father and the collegeboad form.
i'm international prospective
greetings

Posted by: me on February 13, 2007

Hey,I already sent my Financial Aid Application with all the supporting documents, even my 2005 Parents Tax Forms, but they are shown in MyMit as not received...i am an international student (Colombia),so I guess I should not have a problem with W2 forms since we dont have any of those here...however, should I send them again then?Or should I not worry about this?

Posted by: Carlos on February 13, 2007

If we send tax information to IDOC by the Feb 15th deadline and it doesn't reach MIT for another two weeks, does this count as missing the deadline?

Posted by: Bonnie on February 13, 2007

I have the same question as Bonnie. I have e-mailed finaid@mit.edu, but so far haven't received a response. With 2/15 just 2 days away I am worried...

Posted by: Nickie on February 13, 2007

My case is exactly the same as me above, though I submitted my father's 2006 return, it says 2005 return still required, will anybody please help?

Posted by: The madman who makes people fly on February 13, 2007

my parents just received their 2006 tax returns, and I'm all set to send it into IDOC this week..
The thing is, I'm in New Jersey, and I don't know if in Massachusetts you're expecting this too, but this week there's supposed to be some monster snow storm hitting my area. In the (unlikely) case that it's really bad and there's no postal service, would it be too horrible if it was postmarked to IDOC a few days late? I'd appreciate a response soon - the snow's supposed to start tonight. :D thanks.

Posted by: theresa on February 13, 2007

The IDOC instructions state they will accept only one packet. If I have to send 2005 tax return while waiting to complete 2006 return, how do I send them the 2006 return when it's done?

Posted by: Robert Finley on February 13, 2007

Robert Finley:
you send the 2005 returns directly to MIT. Only send your 2006 returns to IDOC.

Posted by: theresa on February 13, 2007

to anonymous,
just a fun!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1

Posted by: bhushan lodha on February 14, 2007

Wow. financial aid is complicated. Glad I don't work in that office! The different cases are so specific and individualized! Good luck all of you!

Posted by: Elizabeth on February 14, 2007

I mailed the following documents to MIT
financial aid office on 25th January 2007.
My international student Financial Aid Application,Business/farm Supplement,Tax returns,Bank Statement and a letter of special circumstances.
However, even as of today nothing is reported in my Financial Aid Application tracking as recieved.
What should i do now with only 1 day left to the deadline.
I am seriously bugged so please help me out.

Posted by: K. Zulfiqar.(Pakistan) on February 14, 2007

hey! K. Zulfiqar
first of all RELAX.................

now call finaid office tell them ur name and date of birth and ask if they hav recieved it.
if this don't work e-mail them abt same
(if u r e-mailing do it urgently, so by 2morow or within a hour u will get result so u will hav time to take some proper action)

best of luck

Posted by: bhushan lodha on February 14, 2007

Here in Brazil the Tax income is released just after March 1st. In agreement to the office, I sent the Tax income of 2005 and other documents. Will the office still have time to consider the 2006 Tax income information if they receive it by the middle of Mach?
But anyway, I know that the Financial Aid Office receives mountains of documents, and I wish luck for you.

Posted by: Susan Gabrielle Virgem on February 14, 2007

Hi!
I sent my financial aid package a long time ago but the status still shows that the forms have not been recieved. Is it acceptable if I fax the documents just to be on the safe side?

Posted by: Jawwad on February 15, 2007

huhu

Posted by: hhh on February 15, 2007

How long should we wait for the faxed documents to be added to the database?

Posted by: Amna Sarfraz on February 15, 2007

Hey,
Now it is shown that FinAid received my 2005 tax returns. However, 2006 tax returns are still required for packaging and they are only going to be available after May 1st....What am I supoose to do with this?

Posted by: Carlos on February 15, 2007

The IDOC form for MIT says the following: "Your packet must be received by the College Board no later than March 1, 2007." However, here you're listing the due date for submission of 2006 tax forms as 15 February 2007. I was preparing to submit before today, then when I saw the IDOC date delayed a bit since my tax software still needs to be updated to calcuate the return accurately. So is the deadline for receipt at IDOC 15 Feb or 1 March?

Posted by: JWRL on February 15, 2007

I called MIT today regarding the difference in deadline dates after a brief but intense panic attack last night, and was told, today is the day however, they must be mailed to IDOC. The girl on the phone said they would understand if they weren't there as long as the FAFSFA and CSS is completed. Hope this helps and is accurate!! I mailed the forms today.

Posted by: Mom on February 15, 2007

Does anyone know how long do the financial aid office take in replying to our emails addressed to finaid@mit.edu

Posted by: 0 on February 16, 2007

to Anonymous
yope.

hardly 5hrs.

Posted by: bhushan lodha on February 16, 2007

Hello Daniel!

My family won't be submitting any financial aid materials to MIT for personal reasons, but this doesn't mean my admissions file is incomplete, does it?

Thanks!

Posted by: Katherine on February 16, 2007

if it takes 5 hrs??
y is it they haven't replied to my emails that were written some 3 days ago

Posted by: 0 on February 16, 2007

mail them again they might hav not recieved it

Posted by: bhushanlodha on February 16, 2007

Financial Aid

I come from Norway, a country where the average income is much higher than in the US. (and, of course, things are much more expensive over here as well).

Do you keep that in mind when you calculate the EFC for international students?

Thanks.

Posted by: Eirik on February 18, 2007

Hello,

I am a student from Armenia and the dashboard at MyMIT indicates that I still have to send

* Parent's 2005 Foreign Income Tax Return

to meet your requirements. However, my parants don't have any "Foreign income".

What would you advice me to do?

Best regards,
Tigran

Posted by: Tiks on February 21, 2007

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Daniel Barkowitz