Fafsa

pcarr123456 · #1 (**permalink**) 02-20-2014, 01:08 PM

My daughter made $4100.00 in 2013, she is a senior and is going to apply for FASFA next week.

Will that affect our household income and reduce the amount of pell grants or loan opportunities?

I file head of household with her as a dependent.

Wnhough · #2 (**permalink**) 02-20-2014, 02:07 PM

Quote:

Originally Posted by pcarr123456

#1;My daughter made $4100.00 in 2013, she is a senior and is going to apply for FASFA next week.Will that affect our household income and reduce the amount of pell grants or loan opportunities?

#2;I file head of household with her as a dependent.

#1; Yes I think so.I guess lots of states / schools use her FAFSA data to determine her eligibility for state /school aid; also some private financial aid providers need her FAFSA information to determine whether she qualifies for their aid.For her Pell grant, she must complete a FAFSA. Qualification for scholarships /other financial aid will not affect the amount provided through the Pell grant program. However,Pell grant awards vary according to cost, the amount of time she spent in school and the expected family contribution or EFC. The FAFSA form provides the info. needed to determine her EFC. The information includes student and family income and assets, household size and the number of family members attending college.

#2;Then, she is a DEPENDENT student UNLESS she is 24YO or older; Even if your daughter lives on her own, receives no financial help from you, and is not claimed as a dependent for tax purposes, she probably still is considered a dependent for the purposes of financial aid. As a depednet, she needs to report information about the parent she lived with for the greater amount of time during the 12 months preceding the date she files her FAFSA application.

pcarr123456 · #3 (**permalink**) 02-20-2014, 02:22 PM

Thank you!!!

Quote:

Originally Posted by Wnhough

#1; Yes I think so.I guess lots of states / schools use her FAFSA data to determine her eligibility for state /school aid; also some private financial aid providers need her FAFSA information to determine whether she qualifies for their aid.For her Pell grant, she must complete a FAFSA. Qualification for scholarships /other financial aid will not affect the amount provided through the Pell grant program. However,Pell grant awards vary according to cost, the amount of time she spent in school and the expected family contribution or EFC. The FAFSA form provides the info. needed to determine her EFC. The information includes student and family income and assets, household size and the number of family members attending college.

#2;Then, she is a DEPENDENT student UNLESS she is 24YO or older; Even if your daughter lives on her own, receives no financial help from you, and is not claimed as a dependent for tax purposes, she probably still is considered a dependent for the purposes of financial aid. As a depednet, she needs to report information about the parent she lived with for the greater amount of time during the 12 months preceding the date she files her FAFSA application.