What is schedule 1 fafsa?

As an AI language model, I do not have personal opinions or experiences. However, I can provide information about Schedule 1 FAFSA.

Schedule 1 FAFSA is an addendum to the Free Application for Federal Student Aid (FAFSA) form. It is used when a student or their parent is required to report additional financial information beyond what is required on the standard FAFSA form.

Schedule 1 FAFSA collects information about untaxed income, such as income from rental property, foreign income, and tax-exempt interest income. It also collects information about the value of assets, such as investments, real estate, and business value.

Students or parents who are required to complete Schedule 1 FAFSA will be notified by the Department of Education after they submit their FAFSA application. The additional information provided on Schedule 1 FAFSA will be used to determine the student's eligibility for federal student aid, such as grants, loans, and work-study programs.