Should I declare myself independent for tax purposes?

Question

I am 20 years old, have a full tuition (roughly $5,500) per year scholarship, and cover the cost of my room and board through my work as an RA. The remaining costs of fees, books, and food total roughly $3,000 per year which I partially cover through grants and other scholarships. I pay for the rest of the costs on my own.

What are the advantages/disadvantages of filing as independent? I don't want to fool around and end up recieving less grant money.

Answer 1

I filed as a independent since I was 18 years old.  When I was 21 I wanted to get Grants and could not because they still counted my parents income.  Even though they never claimed me.  The only way you will be a independent for school is if your 24 and over or married or have kids.

Answer 2

If you are asking about "filing" as in tax filing, it doesn't matter how you file.  Your tax status has nothing to do with your financial aid status.

If you are asking about being "dependent" vs "independent" on your fafsa, then you have no choice about your status.  Either you qualify (based on your situation) as one or the other.  Here are the criteria.  Answer YES to any one or more of them and you don't have to report parents income.  Answer no to all of them and you are dependent and must report your parents income.  No way to "Choose" which one you are.