Will moving out help me with finacial aid?

Question

Basically goin from a dependent(living with parents) to indepent(no support at all). I wanna go to college but i thinki can save so much more money. can i?

Answer 1

Would you be moving out JUST to milk the system for financial aid? If that's the reason, then I wouldn't suggest it. Talk to yr parents about it. There are a lot of scholarships and other things you can get. Depending all on yr parents income, you could still live with them and receive financial aid. Look into it.

Answer 2

Sorry, but that's not how it works. You'll still be considered a dependent because you're unmarried, under 24, and have no military experience. If you want to save money for college then the best thing to do is to stay living with your parents for FREE and working a job and not spending that money.

Answer 3

iff you have money yes if you dont no

Answer 4

It depends on your age and marital status, I think if you are single and under the age 23, you have to claim your parents income.  

Answer 5

Being declared financially independent can help you get more need-based money (you do have to make it official), but you also have to consider the other effects of that decision. If you are currently on your parents' insurance, that would go away if you are independent, but you would stay on it until you are no longer a student if you stay as a dependent. Your parents would also lose the ability to claim you on their taxes, and it would change your tax status as well. However, it may be too late to get the perks for this Fall, as the FAFSA is based on last year's taxes and earnings and everything. Talk to the financial aid office at your school and they should be able to help you figure out how to get the best package for you, and can let you know about other loans/scholarships/etc. that you may not be aware of.