Source: Department of Education. Eligibility for types of financial aid, such as Pell Grants and school or state aid, are also affected by your dependency status. For example, if you are an independent student with a lower EFC because your parent's income isn't factored into your contribution, you may be more likely to qualify for the maximum amount of Pell Grants.
The exact amount of extra financial help you'll receive will vary depending just how much your parents earn as well as based on your own income and family status. While a FAFSA independent student can receive more help paying for school, you can't just determine you want to be classified as independent. The Department of Education outlined 10 key questions you'll need to answer to determine your dependency status.
If you answer yes to any of these questions, you may be considered an independent student. But if you answer no to all of them, you will be considered a dependent. This is true regardless of whether you are claimed on your parent's tax return or whether you actually have close contact with your family or receive any support from them. Your school's financial aid office will verify the information you provided and your eligibility for loans, so you'll need to be prepared to show you meet the criteria for independence.
Regardless of your dependency status, you should aim to submit your FAFSA as early as possible when it becomes available in October of each year, as some sources of aid are limited. You can also explore financial options for paying for college outside of federal student aid if you don't qualify for enough to cover your degree.
Private student loans can supplement your federal aid and Juno can help you get the best possible rates by getting you together with a large group of other students and negotiating with lenders on your behalf. Juno can help you to find a student loan or refinance a loan at the most competitive possible rate.
We get groups of buyers together and negotiate on their behalf with lenders to save them money on private student loans and private student loan refinance loans. Join Juno today to find out more about your options for affordable private student loans to help fund your degree.
Christy Rakoczy Bieber is a full-time personal finance and legal writer. Christy was previously a college teacher with experience writing textbooks and serving as a subject matter expert. The difference between in-state and out-of-state tuition prices can be drastically high. This article will help you understand how you might qualify for in-state tuition costs. Finding specific scholarships is a great way to fund your education.
This article dives into scholarships for journalism. The college would then request to see additional documentation from family court, if needed. For families that are experiencing separation or divorce, the College Board has put together this helpful section on completing the CSS Profile. The student also has a child, which makes them qualify as an independent student. Does this mean the school should NOT ask for a state regarding their income?
Or ask how they are able to support their child with no income or government assistance listed on the FAFSA? A: A student with children is considered independent when he or she is providing more than half of the support for the child — or children. Unfortunately, having a child, does not automatically make a student independent on that basis alone. In that case, the school has the right to ask for documentation regarding proof of where financial support comes from for that particular child.
Q: My husband and I have been separated for five years. We live in different states, and the kids live with me. What is the correct filing status for us? They will not release his financial aid until the correct forms are filed.
In the future, you also both need to agree on who will claim the children on each tax return. Q : I have been trying to apply for financial aid through the FAFSA, but it will not recognize me as an independent student. If you have additional questions, the Frank Team is here to help. You can reach us via email at support withfrank. Otherwise, financial advisors can help you speak to your parents so they understand the importance of sharing their financial information.
Dependency Status. Search for: Search. You must have lived with the parent wanting to claim you for more than half the year. So, naturally, you come to the next conclusion: Being independent will net me a lot more financial aid as well.
Therefore, to be considered an independent on the FAFSA, you need to meet at least one of these criteria: Be born before January 1, Be married as of the day you apply. Be an active-duty member or veteran of the U. Have children who get more than half their support from you between July 1, and June 30, Have other dependents who get half their support from you and live with you at the time you apply through June 30, Have both of your parents deceased, be in foster care, or be a ward of the court at any time since you turned
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