<p>Hello,
As of right now I don't satisfy any of the guidelines set forth that make a student independent, however I think I have a bit of an odd circumstance. I'm an under 24 year old undergraduate, no children, not married, and I purchased a house this past summer. My parents did not help with the purchase of my new home, and I haven't lived with them for over 2 years. They do not offer any financial support, school related or otherwise. I see this in the guidelines for an independent student "Be a student for whom a financial aid administrator makes a documented determination of independence by reason of other unusual circumstances.". Would purchasing a home count as an unusual circumstance? This is something I fully intend on talking to my financial advisor about, however I am on break right now and do not have the opportunity to do so at the time, so I am conducting some research on my own prior to talking to her. Thanks for your time.</p>
<p>No. The unusual circumstances would be more likely related to hardship or abuse situations, parents in jail etc. Your family financial situation will still be determined by parental income until one of the main conditions are met. The exceptions are rare. </p>
<p>Don’t you find it ironic that you have means, yet you chose to spend it on a house rather than your education, but then you want to be given financial aid based on the fact that your have more assets than other people? Financial aid is usually based on having less and not being able to afford college.</p>
<p>EDIT: in January you were dead broke with a broken down car and trying to find any way to pay for college. Now you bought a house? What happened? </p>
<p>BrownParent,
Please keep your snarky comments to yourself. There is no need to judge complete strangers on a forum, especially when you know next to nothing about my situation based on the short little paragraph that I wrote.</p>
<p>It is recommended that everybody, regardless of income fills out FAFSA. I just want to ensure I do it correctly. Please take your judgmental comments elsewhere.</p>
<p>No, you would not be considered independent. Are you currently attending college? In some states, (Texas used to be one…don’t know if it still applies), if the student owned real estate, they could get instate tuition. Note…not independent financial aid status, but instate tuition. Two different things.</p>
<p>The thing you will have is any equity in your purchased house will have to be listed on YOUR FAFSA…as your asset.</p>
<p>That you bought a house, or anything for that matter does not make you independent. The rules for independence are clear. Is your house fully morgaged up? I ask because student assets are hit up at a hefty amount. Your family home is your family’s primary residence, and your house will likely be considered an asset if there is any market value after the mortgage is taken into consideration. </p>
<p>As for BrownParent’s comments, I’m curious too, as would be any number of us. You shared your info on the board and we took note. Not judging, but wondering what’s going on here. </p>
<p>There was nothing snarky intended, only an honest assessment. but I will bow out of trying to help you if you can’t take statement of facts.</p>
<p>Hello guys,
Back in January I talked to my schools career services department, found an internship, the internship turned into a really well-paying job within a week. I also have taken up breeding show quality dogs recently. I guess you could say my financial situation did a whole 180 very quickly, which I am very grateful for. I have a guaranteed promotion at my current job once I graduation. I will graduate in the summer 2016, and only have 9 credits to take next summer. Over the last summer I found at REO property, bought it and my mortgage payment is less than I was paying for rent.</p>
<p>Sorry for the double post I don’t know how to edit posts!
For clarification, I am currently working full time, and at the same time being a full time student taking night classes Monday-Thursday nights. I also am breeding show quality dogs on the side for extra income. </p>
<p>I think this thread can be closed now, as my original question of how to fill out FAFSA has been answered. I appreciate the time spent by those that helped answer my question.</p>
<p>*Edit: I graduate in summer 2015 NOT summer 2016. I don’t know why I can’t edit my previous post</p>
<p>Thank you for the explanation. As noted, any equity in that house you bought is listed as YOUR asset on the FAFSA. </p>
<p>It sounds like you also have significant income. This will also affect your EFC. </p>
<p>But terrific to have this first world problem. NO you are not independent for financial aid…but it sounds like you have more funds available to help pay the costs of attending college.</p>
<p>Thank you Thumper1 for the guidance.
I don’t anticipate getting any financial aid, but I do want to ensure that I fill out FAFSA correctly. As mentioned above, next year I will only be taking 9 credits and I expect my merit scholarship will cover most if not all of that. I do however still want to fill out the FAFSA just because it’s recommended. </p>
<p>things to check.</p>
<p>1…make sure your merit award can actually be USED in the summer…and for less than full time study</p>
<ol>
<li><p>Make sure that summer 2015 is not part of the 2014-2015 academic year. At some schools it would be. At others, it would be part of the 2015-2016 year.</p></li>
<li><p>Why are you completing a FAFSA for that summer term if you are sure you have the money to pay for those courses?</p></li>
</ol>
<p>I do encourage OP to fill out the FAFSA and have parents do the same, as OP is still dependent for fin aid and FAFSA purposes. That way OP can take out the Direct Loan if needed.</p>
<p>My school puts summer term as part of the 2015-2016 term. I was going to fill out the FAFSA just because it’s recommended, but I actually just read that my school requires that all students receiving any type of scholarship fill out the FAFSA. I will be receiving a merit scholarship and in order to receive it I apparently need to fill out the FAFSA. I have the means to pay for these 9 credits, but I’m obviously going to take the merit scholarship so that I don’t need to pay for them. From what I’ve read, the merit scholarship can be applied to part time study and I am able to apply it to a summer term. I will confirm everything with my financial aid officer at our meeting. Thanks once again for all the help!</p>
<p>@brownparent was not being snarky. Your posting history suggested something totally different. All you had to do is acknowledge the odd situation. </p>
<p>I don’t know why you care whether you are independent or not. You won’t likely qualify for any aid, so what difference does it make? You can take out a Direct Loan.</p>
<p>In my defense, I did not know that you could even access people’s history.I do not spend much time on this forum, or forums in general. She edited her post and looked up my history after I had already responded to her. All she had to do was ask a simple clarifying question and this would have been cleared up, as it had been when another poster asked politely. Not that it was anyone’s business or had anything to do with the question at hand. I for one hand wouldn’t have been so quick to jump to conclusions about a total strangers situation, but I guess we all have different ideas of internet etiquette.</p>
<p>I care whether I am independent or not because in the event that I am not (which I am not), I need to get in touch with my parents and get their information for my FAFSA. I know that I will not qualify for any aid, but as already mentioned I need to fill out the FAFSA to claim my merit scholarship. I do not need to take out a direct loan.</p>
<p>I will say…sounds like things have turned around for you in a positive way. Fill out the FAFSA…and be done with it!</p>
<p>Thanks thumper!
Speaking of done with it I will be leaving this forum after this thread, definitely not an environment I have time for. I do however want to thank posters such as yourself that have helped me. As for the other posters, theres a whole world out there I hope for your own benefit you spend some time away from the computer and are able to enjoy it. I hope you get some time to focus on yourselves and not worry about what others are doing. I turned myself around from a broke college kid eating ramen to a homeowner in 6 months. Nobody on the internet can understand the hardships I had to go through to get to where I am now. I’m 19, I have a great job, I’ve almost completed my B.S., I own my own house, my dogs are winning at shows. I don’t need anybody on the internet to judge me.</p>