Being married?

Question

What is the difference in paying off college if your married or single? I have been engaged and am putting off marrying because I have been told it will effect my finances with the colleges and will make it harder to pay for college. Something about dependency? If anyone knows anything about this please write

Answer 1

sounds like it could be

Answer 2

If you are married, when you apply for federal fin aid assistance they ask for you and your spouses income.  When you are under 24 and not married (and a couple of other things) you are required to list your parents income.  This is the difference.

Answer 3

I have found it much easier being married and getting help with college. It really all depends on the financial situation that you are BOTH in. Do both of you work, only one, what is the combined income from both or one, are there any children? There are a lot of things that come into play.

I am in school right now and because financial aid is based on the household income and the amount of people in it, it has helped out a lot. I don't work at the moment but my husband does and we have two children so I qualify for a full financial pell grant...at least I will until he starts with receiving his higher wages. It is all based on what you file on your taxes from year to year. If you are under 25 and not married, it will still be based on your parents income which can actually hurt people even if you are not living at home it goes on what they file as their income on taxes. That is just how financial aid goes....I have seen a lot of people suffer and have to take out extensive student loans because of this.....

hope this helps a bit....talking to a financial aid officer at the school you are attending or will be attending will help to answer anything about this.

Good Luck to you!