<p>I was wondering if most schools look at household income or just my parents' income when they offer financial aid. For example, my parents make just under $60k a year, but my sister still lives with us and makes like $15k a year. She doesn't contribute any of her income to my family.</p>
<p>I'm applying to some UCs, USC, and possibly University of Chicago and Cornell. For UCs, they provide full aid to incomes less than $70k. But will I not be eligible b/c of my sister? </p>
<p>And does Cornell and Chicago give full aid to households that make less than $60k? Or is it just my parents' income?</p>
<p>Here are the instructions:
<a href=“http://studentaid.ed.gov/students/attachments/siteresources/CompletingtheFAFSA10-11.pdf[/url]”>http://studentaid.ed.gov/students/attachments/siteresources/CompletingtheFAFSA10-11.pdf</a>
It is important to thoroughly read the instructions since some terms can be confusing.</p>
<p>FAFSA will ask for your parent’s income. If your sister pays rent to them - there will be a place where they will include that figure.</p>
<p>FAFSA will ask for your parent’s AGI - not your sister’s.</p>
<p>In a related note, can the parents still claim the older sister on their taxes? If so, that might help out for this year at least. Our oldest graduated in May and moved back home. Although she got a freelancing job, she paid us no rent and we paid her car insurance and ridiculously high medical insurance (through COBRA).</p>
<p>^ only if she meets the IRS dependency rules.</p>
<p>For those who have recent college grads who moved back home, unemployed (or underemployed) you can add them to your household size on the FAFSA - if the support test is met for FAFSA. Go to the instructions link I posted, page 59 and refer to #73.</p>
<p>Actually FAFSA will also ask for income off W-2’s - not just AGI.</p>