FASFA: criteria for independent status

Paying for College
1

<p>Hi folks -</p>

<p>My S is a bit of a late bloomer and is finally getting serious about attending college. Probably.</p>

<p>He's been independent (financially and tax-wise) for 3 or 4 years now, and at age 23 is looking at applying to the College of the Ozarks (aka "Hard Work U").</p>

<p>Our burning question concerns whether he would demonstrate financial need. He spoke to the college today and they said they go by the FASFA. If he is considered dependent by FASFA, then this ain't gonna work, but if he IS independent, then he's got a chance.</p>

<p>We used the FASFA 2010-11 Dependency Worksheet (Dependency</a> Status Worksheet - Worksheet - Federal Student Aid) to ascertain his status, and it rests upon his age.</p>

<p>The first question is, "Were you born before January 1, 1987 (question 46)?" He answers No to that, and then after filling out all the other questions, FAFSA says he's Dependent.</p>

<p>However, if he goes back and says "Yes" to that question, FAFSA considers him Independent.</p>

<p>My question: if we do this next year, when he's a year older, is he going to be FAFSA-Independent then?</p>

<p>And if this is the case, then at what point does FAFSA change its cutoff date? He needs to apply by Feb 15, 2011 to the college, and would need to be independent at that time.</p>

2

<p>For FA purposes he will be independent in the year he turns 24. For 2010-2011 FAFSA and school year he would have to turn 24 in 2010 (ie be born before January 1 1987. </p>

<p>If he turns 24 in 2011 he will not be independent until the 2011-2012 school year (that starts fall 2011). On the 2011-2012 FAFSA the question will change to “were you born before Jan 1 1988”.</p>

<p>If he is applying to start school in fall 2011 then it is the 2011-2012 FAFSA he would have to complete and if he is turning 24 in 2011 then he will be independent for the 2011-2012 FAFSA whenever he completes it (ie if he completes it january 1st but does not turn 24 till December 31st he will still be considered independent for the 2011-2012 school year.</p>