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What is required in order to be considered financially independent?

financially independent
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What is required in order to be considered financially independent?

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• First of all, you cannot be claimed as a dependent on your parents’ tax return for the prior and current calendar years. • In addition, you must also be able to document enough income in the prior and current calendar years to show that you have been paying over half your expenses in that period. For example, if you were applying for a change in residence classification effective fall semester, you would have to show that you had been paying over half of your expenses for all of the prior year and for the first nine months of the current year. • Income can include the following: employment, financial aid, scholarships, and irrevocable trust funds (with documentation that you have been withdrawing funds from the trust). • If you are a nonresident student, the amount of income required to be considered financially independent is based upon your ability to pay at least 51% of the estimated expenses listed on page in the Admissions and Financial Aid section of the Washington State Univer

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