Dependency status while filing fafsa
Free application for federal student aid, also known as fafsa is the basic and starting point in the application process for student financial aid. It is the document that the federal government uses to determine how much of your tuition you are able to pay and how much money you are eligible to receive. The fastest and most convenient way to complete a fafsa is online.
In order to be allotted any kind of student financial aid, there is a certain dependency or independency status that is considered. Most students who enter colleges directly from high school are considered as dependant students. This requires the parents to contribute in meeting the education expenses. However if you are an independent student, then you will have to submit only your income, assets and if married, then those of your spouse in your fafsa. In this case the fafsa needs to be submitted on the date you were married. The main difference between a dependant and independent student with regards to fafsa is the information required from both. A dependant student will be asked to provide financial information of the entire family. As in the case of an independent student, he has to provide information about his personal income and assets and if married, then that of his spouse too. The components of fafsa are comprised mainly of 1) demographic data 2) income information 3) asset information. In case of dependants, the same will be asked about his parents whereas an independent student can ignore his parent’s information. One becomes an automatic fafsa independent if he is married when he applies, or you pay half or more child support or you are enrolled or granted admission in a graduate level programme in the academic year you are applying for, both the parents are deceased or you are a veteran.