Should I answer questions about my parents as an independent student?

You won't have to provide any info about your biological parent or your guardian for the FAFSA® if you're independent. Otherwise, you'll still be considered a dependent student for federal financial aid purposes—even if you don't have any contact or a relationship with your parents.

Should I include parent information on FAFSA as independent student?

Students who are dependent for federal student aid purposes must supply parent information on the Free Application for Federal Student Aid (FAFSA). Students who are independent do not have to supply their parents' information and often qualify for more student financial aid as a result.

Why should I answer questions about my parents on FAFSA for law school?

Law schools, however, may require parental financial information for institutional grants and scholarships. You should be aware that the law schools have specific policies and procedures regarding independent status for the allocation of institutional funds.

Should I skip parents assets questions on FAFSA?

Can I Skip FAFSA Questions About Assets? You can only skip FAFSA questions about assets if you meet the qualifications to do so based on your answers to other questions on the application. However, that's only because your asset information at that point doesn't affect your eligibility for federal student aid.

At what age do you not need your parents information for FAFSA?

Will you be 24 or older by Jan. 1 of the school year for which you are applying for financial aid? For example, if you plan to start school in August 2022 for the 2022–23 school year, will you be 24 by Jan. 1, 2022 (i.e., were you born before Jan.

New FAFSA form causes confusion for parents and students

What qualifies you as an independent student for FAFSA?

For the FAFSA, an independent student is someone who will not receive any financial support for their education from their parents or guardians. This means the Federal Student Aid office does not use parents' or guardians' financial information to calculate independent students' EFC.

What if I don't have my parents info for FAFSA?

If you're filling out the FAFSA form online, you'll be asked whether you can provide information about your parents. If you can't, you'll have the option to indicate that you have special circumstances that make you unable to get your parents' information.

Is it good to answer questions about your parents on FAFSA?

You still must answer the questions about them if you're considered a dependent student. What if my parents aren't going to help me pay for college and refuse to provide information for my FAFSA® form? You can't be considered independent of your parents just because they refuse to help you with this process.

What happens if you accidentally lied on FAFSA?

If the student receives federal student aid based on incorrect or fraudulent information, they'll have to pay it back. You may also have to pay fines and fees. If you purposely provide false or misleading information on the FAFSA form, you may be fined up to $20,000, sent to prison, or both.

Is it better to answer questions about assets on FAFSA?

While you may not have as much in your savings account, student assets are weighted more heavily (20% for the FAFSA), so these must be reported, too. Good Strategy: Shift Assets Shifting assets from reportable assets to non-reportable assets can impact your eligibility for financial aid.

Why is FAFSA asking for my parents information?

Independent Student. The(FAFSA) distinguishes between students who are dependent and students who are independent. Parents of a dependent student are required to submit their financial and demographic information on the FAFSA.

Why does FAFSA want my parents income?

If you're a dependent student, the FAFSA will attempt to measure your family's financial strength to determine your expected family contribution. Therefore, your family's taxed and untaxed income, assets, and benefits (such as funds collected through unemployment or Social Security) should be entered into the FAFSA.

Does it matter how much your parents make for FAFSA?

Your family's income and assets are scrutinized when you fill out the Free Application for Federal Student Aid (FAFSA). This info then determines your Expected Family Contribution (EFC) toward the cost of college.

Should I answer questions about my parents on FAFSA if I m an independent student reddit?

You are considered an "independent" student. This means you are not required to answer questions about your parents. - your school requires parental information from all students.

Why do I have an EFC if I'm independent?

When you are a dependent student, your EFC is calculated based on both your parent's/parents' income and your own. However, as an independent student, your family's income will not be used to calculate your EFC. Rather, your own income and assets will be factored into the calculation, minus some deductions.

Do independent students get more financial aid?

Independent students typically qualify for more need-based scholarships and grants. The federal student aid program may offer more loans or access to need-based loans. Independent students should reach out to a tax professional to inquire about tax benefits such as education credits and deductions.

What is the most common mistake made on the FAFSA?

Has anyone gone to jail for FAFSA?

University Of Great Falls Student Sentenced To Six Month In Custody For FAFSA Fraud. GREAT FALLS – Former University of Great Falls student, Brenden James Leischner, 24, now of Indio, California, was sentenced to six months in federal custody for Federal Student Financial Aid Fraud, by U.S. District Judge Brian Morris.

Is lying on FAFSA a felony?

Lying on your FAFSA^® is considered fraud and it is deemed a felony and could result in up to 5 years in prison and/or a $20,000 fine.

What is the question 90 on the FAFSA?

This is question 90 on the FAFSA. The response indicates the total number of people in the student's household in 2023-2024.

What is the question 87 on the FAFSA?

This is question 87 on the Free Application for Federal Student Aid (FAFSA^®) PDF. Enter the net worth of your parents' current businesses and/or investment farms as of the day you submit your FAFSA form.

Does FAFSA check your bank account?

Students selected for verification of their FAFSA form may wonder, “Does FAFSA check your bank accounts?” FAFSA does not directly view the student's or parent's bank accounts.

Can I claim my 18 year old college student as a dependent?

However, to claim a college student as a dependent on your taxes, the Internal Revenue Service has determined that the qualifying child or qualifying relative must: Be younger than the taxpayer (or spouse if MFJ) and: Be under age 19, Under age 24 and a full-time student for at least five months of the year.

How do I claim independence from my parents?

What is the difference between dependent student and independent student?

Many factors can affect your dependency status, but for most students, the selection is simple. Students under 24 listed as dependents on their parents' returns should designate themselves as dependent students. Students over 24 who file their own taxes should designate themselves as independent students.