Question:

Is my daughter still considered a dependent once she goes to college?

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she got a loan for college, so we are not paying for it, but i'm just not sure if she's still concidered our dependent or not. She will be living on campus at a university in another state.

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  1. According to the federal government your daughter is still considered a legal dependent up until the age of 24.  It is simply because up until the age of 24 you as a parent can still provide health insurance, and car insurance. The federal government believes that to be supporting your student.

    Most students try to apply for independent status, but that can be very difficult.  Usually in order to receive independent status is requires that the student doesn't have any contact with their parents. They have to show proof that there is absolutely no way that the student able to get the tax information from the parents. However, it is easier to get independent at some universities rather than others.  

    Have you considered doing a parent plus loaning? The loan is based on your credit and you would be responsible for the loan, if approved the funds go to the account and the interest rate on it is about 8.6%.  If you are denied on back credit then she qualifies for unsubsidized loans and the student is responsible for the loan and the interest.  She can either make payments on the interest or let it accumulate until after she graduates.  

    She can also apply for private loans, but those are usually last resort because the interests on those are very high.  And for the following year apply for the application as soon as possible because sometimes the university has extra funds available that are on a first come first serve based on when they have their applications completed with their fin aid office.


  2. she's a dependent if u file her on your taxes and still take care of her. even though she will be in another state, if u filed her on your taxes, she is still your dependent. plus for financial aid, they want the work info for the year before. she will go to college in the fall but the income reported to financial aid was from 2007. if she has a child or is at a certain age ( i believe 23) then shes independent.

  3. From my experience, yes.  My oldest son is almost 20, will be a college sophomore this fall and we still claim him on our taxes, he is still on my husband's health insurance plan and on our car insurance, due to him being in college.  He lives on campus, when school is in session, in our state.

  4. As long as she is a full-time student and under the age of 23, she is your dependent.

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