Do you get more financial aid being married with dependants?

Question

I am considering going back to college I am married with kids..and want to apply for student loan but dont know if you get more for being married..the other problem I have is my husband makes good money but we have some finances that would prohibit me going to school without a loan..anyone have any ideas? Serious answers please!

Answer 1

You answered your own question. If your husband makes good money you'll not get a loan.

Answer 2

If you are married, your husband's earnings must be reported on the FAFSA. If he makes a decent living, your EFC ("Expected Family Contribution," as determined by your FAFSA data) might be too high to allow you to receive federal *grant* aid, which is almost always need-based.

However, the good news is that just about anyone can receive some type of Federal Stafford Loan funding -- even students who show no financial need at all. Typically, Freshmen are offered $2,625 annually in Stafford Loan funding; Sophomores can receive $3,500 and Juniors/Seniors [and 6th year students] can receive $5,500 a year. Now, this is basically true for all undergraduates, whether they are independent or not. At minimum, this is what you can expect to be offered.

In your particular case, because you are married (and/or because you have children), you are automatically considered "independent" for Federal Student Aid purposes. This independent status, in turn, makes you eligible for *additional* Unsubsidized Stafford Loan funding (above and beyond the aforementioned limits), as follows: $4,000 more for Freshmen and Sophomores and $5,000 more for Juniors, Seniors, and 6th year students.

I assure you that it is not the case that "anyone with income over $9000" will receive a reduced aid package. There is so much more that goes into the FAFSA calculation than just income alone (not the least of which is the fact that you have children to support). I would encourage you to file the FAFSA, regardless of what you think you are or aren't eligible for (http://www.fafsa.ed.gov ). You could be pleasantly surprised: in fact, there are plenty of families who assume they won't qualify but, when all is said and done, they do. If you aren't quite ready to file for real, you can perform a simplified version of the EFC calculation here: http://www.finaid.org/calculators/finaidestimate.phtml

Answer 3

i don't think so you might get less cause it goes by your income, taxes, the minute you earn more than 9000$ to lose a TON of aid.


it actually pays not to work the year before college. This term I FINALLY have full aid, before I had to take it all out in loans.

Maybe it would be better for you to do separate taxes if you want grants and loans. But if he makes good money you can afford to pay for college.

Answer 4

that is a difficult question to answer without more information. here's why, fafsa will ask many questions with different variables to determine eligibility. they are, gross income, income tax paid, net worth of assets, marital status, household size and number in college. all of these variables go into the formula to determine your expected family contribution, which in turn, will be used by your school's financial aid office to determine eligibility.