Would i lose my fafsa?

Question

When i filled out my FAFSA for the 08-09 school year i got 100% financial aid. Right now i live at home with my parents and brother. My dad is going back to school and my brother is also in college. They attend community college and i will also in the fall. I was wondering if i moved in with a friend would i no longer be counted as with my families financial situation and would i no longer be eligible for what i am now recieving?

Answer 1

you would still get it if you dont make a lot of money

Answer 2

Not true RP. I don't make a lot of money, I live on my own and I still have to pay for school. Fiancial Aid doesn't pay 100% and I also had to take out a loan so It ll depends.

Answer 3

I don't think so. Most students who go to college don't live with their parents anyways. As far as the FAFSA goes, the only thing that's important is if you're a dependent of your parents or not.

Answer 4

If you moved in with a friend, you should just state your income.  Not family, not friend.  You will be supporting yourself.  This should put you in a better position to continue getting 100% financial aid, because now your income will be even less.

Answer 5

You might actually qualify for more. but you didnt give enough details. 1st your families income vs the household income where you are planning to move to. but I believe that because it is a friend and not a relative. their income doesn't count. "you will no longer be considered a dependent" so you will still qualify for fafsa but like i said before. you might actually qualify for more assistance now. because you are no longer under your parents income. Am I being clear? I hope that helped.

Answer 6

Interesting answers - here are the facts.

When you complete the FAFSA form each year, there are a series of questions that determine your dependency status. A lot of people get dependency confused with emancipation, or with dependency for income tax purposes. These things are not the same.

For FAFSA purposes, you are a DEPENDENT student unless you can answer "yes" to one of the following questions:

Were you born before January 1, 1985?

Are you married? (you are not married if you're divorced)

Do you provide more than 50% of the financial support for one or more children?

Do you provide more than 50% of the financial support for a non-child dependent WHO LIVES IN YOUR HOME?

Are you now a ward of the court, or were you declared a ward of the court before your 18th birthday?

Are you on active duty in the US military?

Are you a veteran of the US military?

If you can not answer "yes" to one of those questions, you are a DEPENDENT for FAFSA purposes.

It doesn't matter if:

Your parents live in Timbuktu

You haven't seen your parents in 20 years

You don't remember what your parents look like

They changed their identities specifically to avoid you

They haven't given you a penny in the last 10 years and have already announced that they'd rather give their money to the Hari Krishna than pay a penny towards your college education

You can live with your friends, people you don't even know, your older sister, your weird Uncle Jeff, or a tribe of aboriginal headhunters. It doesn't matter.

You're a dependent for FAFSA purposes unless you can answer "yes" to one of the questions above.

If you are a DEPENDENT student, it is your PARENTS' income and assets and household that matters when your EFC (expected family contribution) is calculated.

Anyone who is telling you that moving in with your friends might get you a better result is wrong. Okay, it might be a heck of a lot more fun, but it won't improve your EFC score.

Now that I've cleared that up, I'm still totally confused why "everyone" seems to think that it's so wonderful to be "independent".

If you're dependent, the government figures that your parents should help you pay for your schooling - and they'll only let you (personally) borrow a little bit.

If you're independent, the government doesn't expect your parents to pay for your schooling, so they'll let YOU borrow a whole heck of a lot more money that has to be paid back when you get out of school.

Someone explain why it's preferable for the student to borrow buckets of money that he/she has to pay back themselves, rather than have good old mom and dad foot some of the bill.