Becoming An Independent Student & How It Helps & Hurts Your Financial Aid

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In this video, Becoming An Independent Student & How It Helps & Hurts Your Financial Aid we discuss when is a good time and bad time to become an independent student for financial aid. This will affect Fafsa and the CSS Profile forms for college financial aid.

The federal student aid programs are based on the concept that it is primarily your and your family’s responsibility to pay for your education. A dependent student is assumed to have the support of parents, so the parents’ information has to be assessed along with the student’s, in order to get a full picture of the family’s financial strength. If you’re a dependent student, it doesn’t mean your parents are required to pay anything toward your education; this is just a way of looking at everyone in a consistent manner.

An independent student is one of the following: at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, someone with legal dependents other than a spouse, an emancipated minor, or someone who is homeless or at risk of becoming homeless

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