<p>My daughter is in her senior year of under grad and has applied to grad schools for fall 2013. 1) What if any benefit is there for completing the FASA process for grad?
2) While she is 21 I am fully covering medical, living expenses and cost of undergrad school beyond her grants and loans. As a result I claim her as a dependent on my taxes. Wondering if anyone has any insights on pros and cons of her going it alone and doing FASA herself (no income) or using a FASA reporting my income?</p>
<p>Again not sure what any of the above means if FASA is not relevant for grad school. </p>
<p>Gratefully appreciate ANY insights or leads to helpful resources</p>
<p>FAFSA is relevant for grad school if your daughter wants/needs to take out federal loans to pay for graduate study. As a graduate student, she is considered independent for filing FAFSA even though she is being claimed as a dependent for your tax filing purposes.</p>
<p>How will your D be paying for grad school? If the program will be a fully funded PhD program, then she might not need to file FAFSA. If this is an unfunded Masters program, then she may need to file FAFSA to get the needed loans.</p>
<p>My son did a partially funded Master’s program and then it became fully funded a year later. He got 2,000 in grants and stafford grad loans which helped him.
He was a dependent on our taxes until this year when he turned 24, but Independent for fafsa.</p>