Hello, I have a question about financial aid.
First, when applying, I know they’ll ask about my parent’s information such as salary etc. since I’m a dependent child. However, the problem is they both “live” in two different house locations for family purposes (But we really live together). So the question is, when I’m answering questions about my parents, what will I need to do? For example: Do I only enter information about the parent that is under the same address as me?
Are they married to each other?
Are they your biological parents?
No, if they are not separated (marriage separation) you list both of their incomes in the income section, and if they own the second house, that’s considered an asset that must be listed too.
My sister and her husband have this exact problem. BIL lives in another town M-F because it is 1.5 hours closer to his job, and comes ‘home’ for the weekend (or sister goes to his house). It really is ‘his house’ and ‘her house’ for everything - car registration, voter registration, driver’s license, and the actual ownership of the houses. Her house is the family home for tax filing and the kids live at her house. When completing FAFSA, they have to list BIL’s house as a second home.
@Madison85 Yes they are married and my biological parents. . .they just have different addresses on paper i.e. drivers license etc.
Do your parents own two different houses?
The house where you reside is your primary residence, and is NOT listed anywhere on the FAFSA as an asset. If your parents own a second home where the second parent lives…that home would be an asset on the FAFSA.
You list both parents’ incomes and assets on the FAFSA.
You include both parents info…and if they own two homes then both homes get listed.
Not on FAFSA they don’t. The home that the student lives in will be considered the “primary residence.”
@BelknapPoint is correct. The primary residence is NEVER mentioned on the FAFSA. But the second home would be an asset (equity in it).