<p>Ok so i have been wondering, Im 23 and the school i want to go to CalBaptist University, said that i cannot truly claim "independent" on my FAFSA for independent aid untill im 24. And one of the only ways I will be able to afford this private Univ. is if I get the extra Gov. assistance by splitting off from my parents and going in dependent, so here is my question, Would it be possible to file my FAFSA my first year as "dependent" and just get the little bit of aid that i can get because of my parents income and just cover the rest with a loan, THEN when i turn 24 next year, claim myself as independent and re-file the FAFSA (or whatever i need to do)?? I mean, will the school then see the change and with a EFC of 0, which it will be no matter what, will i get more aid having that efc of 0 and then having changed my status to independent and having moved out?? or will it be a weird, confusing process because i am already a student there that is claimed at dependent then everything gets changed when i turn 24? I would greatly appreciate help with this, any advise, and any words of wisdom on this subject matter. Thank you very much.</p>
<p>-Josh</p>
<p>No it won’t seem weird. You can’t “claim independency”. It is determined by FAFSA. FAFSA has a series of dependency questions. If you can answer yes to one of them (such as the age 24 one) then you are independent. If you cannot answer yes to one of them you are dependent (unless there is a very special situation and the school over rides it). Whether you live with your parents or not has no affect on you independent/depnendent status for FAFSA</p>
<p>You will be dependent for the entire 2010-2011 school year. When you file the 2011-2012 FAFSA your status will change as you are turning 24 next year. Federal aid will nowhere near cover the cost of a private school or even most 4 year state Us. Currently with a 0 EFC you would get the maximum Pell grant of $5550 and possibly a SEOG (depending on your school’s policy for awarding SEOG). Other than that for federal aid you may get work study and the rest would be loans. Hopefully your school has some aid of their own they offer.</p>
<p>Thanks for the help! but now… when i turn 24 will that effect how much i will be getting from the Gov.? Ive heard that when you are independent and your basically getting NO support or financial help other places you will get more financial aid from the Gov. is that true? even with no job, does that all effect if i can get more or not?</p>
<p>Not really. As far as grants are concerned it is your EFC that is used to determine those. A dependent or independent student with the same EFC is eligible for the same amount of grant money. So for the 2010-2011 school year a student with a 0 EFC is eligible for $5550 Pell grant. As the EFC increases the Pell amount decreases until at EFC 4618 there is no Pell eligibility. Independent of dependent makes no difference, just the EFC.</p>
<p>The only additional federal money for being independent is that your Stafford loan limits increase. For instance a dependent (undergrad) freshman is eligible for $5500 in Stafford loans but an independent (undergrad) freshman is eligible for $9500.</p>
<p>Having a job or not makes a difference only in how it affects your EFC. Students have a certain amount of income protection (much less than the amount parents have). Anything over the protected amount increases the EFC. But other than that, no it does not affect the amount of aid you gt from the govt.</p>
<p>Basically everything hinges on your EFC, not your dependent/independent status (except for how that status may impact your EFC). There is no additional govt aid for an independent student other than the extra loans.</p>
<p>oh ok! great, i really appreciate all the help! but one last concern of mine, my parents make 75,000$ a year together BEFORE taxes, and i am a dependent, my EFC is at a point where FAFSA says i can only get about 3000$ in aid money from the Gov. now… when i move out next year, and re-file the FAFSA and they recognize im a Independent, and no longer live with my parents and i am completely outside the help of their income because i am no longer with them… The EFC will drop to 0 correct??? just trying to clear that up =) thanks ahead of time!</p>
<p>It may or may not be 0. Your EFC will be based on your own income and assets (not your parents and yours as it is now). Whether it is 0 or not will depend on whether your income is over the protected income allowance and whether you have assets. 50% of income over the protected student income allownce goes to the EFC. 20% of unprotected student assets go to the EFC.</p>