Do You Have Dependent or Independent Status for Student Financial Aid?
Do You Have Dependent or Independent Status for Student Financial Aid?It used to be that with a little advance planning a college student could claim independent status and receive thousands of extra dollars in financial aid. Today it is much harder for anyone under 24 to be considered independent in the financial aid game.Answer: Most colleges and universities use the government’s EFC) to determine how much financial aid a student should receive. A significant factor in the aid calculations is whether or not the student should be considered dependent on his or her parents, or if the student has independent status. It used to be that students could claim independent status pretty easily by living on their own and having their parents not claim them as dependents on their tax forms. The result would often be thousands of dollars more in financ
Related Questions
- My parents will not be claiming me as a dependent on their tax returns. Can I file my financial aid applications as an independent student?
- What is the difference between an independent and a dependent student with respect to financial aid?
- What is the difference between an independent and dependent student for financial aid purposes?
