Financial Aid?

Question

I am in the process of applying to Universities right now. And I was wondering how much financial aid I should expect to see if not none. I am currently filed as a dependent with my parents, but I plan on being removed and file as an independent. My annual income as of right now is around $12,500 and I pay $600 in rent as well as everything else in my life and I am also a full time student at a Junior College. My parents are not going to help me pay for school at all, but are the schools still going to view their income? Also, would they even consider me an independent if I was removed from my parent's tax claim recently? If anyone can help me I would really appreciate it. I am completely at a loss here, it's my first time moving away and transferring to a university. I really am not sure how I am going to pay for all this…..

Answer 1

Unless you are 24, married, served in the military, orphan, foster child, or have a child, it is pretty difficult to be declared an independent student unless you are attending graduate school. Graduate school is working on a masters degree. Their income and savings will be included in the formula unless overridden. Unfortunately, your income and savings are factored in at a higher percentage rate. There is an override procedure, but it is not easy to obtain one, and there should be information at the university's financial aid office. An idea might be to apply for a job on campus that includes tuition as a part of the benefits package if you plan on working. Another option it to apply for outside scholarships to minimalize the amount of student loans you take out. I recommend applying for every scholarship you qualify for no matter the amount. I will include some resources that should help. Good luck!

Answer 2

you can just call yourself "independent". that is not how it works with financial aid. they could care less if your parents help you or not and it does not matter if they claim you on taxes. if you are less than 24, unmarried, dont have kids and are not in the military- you are considered dependant and will need to provide your parents info. financial aid and the irs are completely different and being a dependant for tax purposes has absolutely nothing to do with being dependant for fin aid purposes. it just happens to be the same word

Answer 3

You should go to www.collegeboard.com and also www.fafsa.ed.gov.

They both have alot of information on scholarships, and financial aid. I soon have to do the same thing, as I will be starting college in August 2008. Have fun at college!