FAFSA Question. Please help!?

Question

OKay, I'm going back to school. The thing is that i made 25k last year and my mom makes like, 8k only. I heard that the FAFSA was based on your parents income? Well, there's only me and my mom left in the family and i'm actually the youngest and first one to go to college. Will i be able to still recieve full financial aid? I've been recieving full financial aid before i started working but i was wondering if my 25k a year made any difference. And me living on my own does that make a difference too? I also heard that if you were under 24 yrs old your estimation was still base on your parents income? Thanks in advance!

Answer 1

Unless your married and under 24 you must put your parents income even if you live alone.  My niece could not get assistance with the pell even though she had lived alone since she was 19.  It wasn't until she turned 24 that she could claim just her own income.

Answer 2

Under 24 and your estimation is based on yours and your parents' information.

Answer 3

Where you live doesn't make a difference when calculation your financial aid amount.  It will take in to account your and your moms income.  You can always count of federal student loans. Dependent freshman can borrow up to 5,500 a year.