<p>I'm kind of freaking out right now.</p>
<p>I am paying for school (and everything related to school) by myself, but because my parents still claim me, I have to use my parents income (and mine) for the FAFSA. This year isn't a problem. Between scholarships, grants, loans, and my earnings this summer, I can afford this year. But next year is a whole different story. My older sister graduated college in May, and has moved out, so we have one less person to claim (and one less in college). Plus, my dad got a raise this year, and I made almost twice this summer what I made last summer. And I still haven't been able to find a job at school. I'm really worried about not being able to afford to come back next year. I managed to come up with the money to turn down all unsubsidized loans this year, and I really don't want to have to take them (that's what tanked my sister).</p>
<p>I've been applying for scholarships from places like fastweb, and I'm looking into departmental scholarships, but is there anything else I can be doing? I'm trying my best not to spend the money that I already have, and I'm limiting myself to what is on my debit card now (about $100) this semester.</p>
<p>Use FAFSA4caster to elimate your next year’s EFC and plan accordingly
[Estimate</a> Your Aid | Federal Student Aid](<a href=“http://studentaid.ed.gov/fafsa/estimate]Estimate”>http://studentaid.ed.gov/fafsa/estimate)
You might have to accept more student loans.</p>
<p>Also see
[FinAid</a> | Financial Aid Applications | Maximizing Your Aid Eligibility](<a href=“Your Guide for College Financial Aid - Finaid”>Maximizing Your Aid Eligibility - Finaid)</p>
<p>Run your numbers through the 4caster or through the formula itself: <a href=“http://studentaid.ed.gov/sites/default/files/2012-13-efc-forumula.pdf[/url]”>http://studentaid.ed.gov/sites/default/files/2012-13-efc-forumula.pdf</a> The formula does change a bit each year, but this will let you try lots of different scenarios. One possibility would be to take out that unsubsidized loan, and stash the money in the bank for next year. Yes, people do do this sometimes. Ask kelsmom how to handle that. I think there is a difference if it is sitting in your bank account, or if it is in your parents’ account instead. In any case, that could be another $XXXX that is available this time next year.</p>
<p>All of which does not answer the big question which is what will you do for years three and four? You need to have a meeting with the financial aid office at your college/university and find out what your options are over the longer range.</p>
<p>Wishing you all the best!</p>
<p>
Having to use your parents info on FAFSA has nothing to do with them claiming you. It’s entirely based on the fact you are under 24, have not been in the military or do not have a dependent you support (spouse or child).</p>
<p>If your sister graduated college in May of this year, that will already be reflected in your *current *EFC as she should not have been reported on FAFSA as a member of the household in college for the 2012-2013 school year.</p>
<p>The income protection allowance for a dependent student is @ $6,000 this year. Only whatever you make over that will it affect your EFC. 50% of anything over $6,000 (plus allowances for taxes and FICA) will go to your EFC.</p>
<p>As your sister is already not included on your FAFSA this year, there will be no change to your EFC next year related to her. So any change will be related to your own income if it exceeds next years protection allowance, and to your Dad’s pay rise.</p>
<p>swimcatsmom, That’s odd, because we had originally filled it out not counting my sister, and the school told us that she would count, and then went in and changed my information, and my Pell Grant amount changed. And thank you for the income protection allowance information. I hadn’t seen that before, and that definitely makes me worry less.</p>
<p>And thank you for the links to the FAFSA4caster and the FAFSA formula.</p>
<p>That is very odd. If she already graduated and will not be in school for any of the 2012-2013 school year, she should not be included as in school. I can’t imagine why the school would have changed that. Weird.</p>