FAFSA: how to be more eligible for aid?

Question

Do you get less money if you live with your parents?

Do you get less money if you live alone and own your own home?

Answer 1

Where you live is irrelevant.  Understand that Dependency status in the Dept of Education's perspective is much different than legally independent or dependent.  Answer the following questions:

1. Were you born before January 1st, 1983?

2. Are you married?

3. Do you have any children who receive at least half of their support from you?

4. Do you have any dependents who receive at least half of their support from you?

5. Are you currently going to school to obtain a Master's Degree or Higher?

6. Are you a veteran of the US Armed Forces?

7. Are you currently serving on Active Duty in the US Armed Forces?

8. Are both of your parents deceased or are/were you a ward of the court until your 18th bday?

If you can answer yes to any of those questions, you will be independent.  Otherwise you are a dependent student. Using the guidelines above, if you are a dependent student, when completing the FAFSA, you will need your financial information (1040/A/EZ/X) and your parents' information as well.  If you are independent, you will not be including your parent's information on your fafsa.  

Then the Dept of Education will process your information and give you an EFC (Estimated family Contribution) number.  The lower the number, the more aid you are eligible for.  Whether you live with your parents or have moved out is completely irrelevant.  

I hope this helps and good luck!

Answer 2

I believe you would get less money if you own your own home because you are independent and are holding down a job.

But I am not really sure.

FAFSA is usually more dependent on the amount of income you have and how much credit you will be taking in school as well as the school you are planning on attending.  You will have to do some research into this to find the best you can get for your value.

Head to http://www.fafsa.ed.gov/ and begin the process. :-)

Good luck!