<p>I have a friend whose son already has a BS degree. However, he is thinking of going back for a BS in computer science/web design. He is age 23. Will his parents income and assets be counted in the financial aid equation?</p>
<p>no -- if you have already completed a bachelor's degree, you are considered an independent student. It is one of the qualifying questions.</p>
<p>something for him to keep in mind -- after completing his first bachelor's degree, he is not eligible for Pell grants or many of the other grants. Plus -- many states (mine included) do not provide any type of financial assistance for a second bachelor's degree. He may find that the cost is quite a bit higher than he expects. It isn't a matter of what his EFC is, but rather the limited amount of funding for a second degree -- especially a second undergraduate degree.</p>
<p>Hsmomstef, He is looking to get some need based grants/scholarships from the school itself.</p>
<p>Taxguy,
Will his employer pick up the tab? That's what my BIL did -- got his first degree in finance, then got his employer to pay for the second B.S. in CS degree. When I was in my 20s, lots of us picked up add'l classes/certifications/degrees on our ER's dime. They were happy to pay it, too, as it meant we stayed with them longer!</p>
<p>taxguy -- I think he needs to meet with the school. My understanding was that FAFSA makes the determination that if you have a bachelor's degree, you are independent according to them. That may not be true -- I just did a detailed reading of all FAFSA questions, and these are the two questions that are applicable:</p>
<ol>
<li>Degree or certificate. Indicate the one-digit code for the expected degree or certificate you will be working on during the 2007-08 school year, using the "Degree/Certificate Code List" below.</li>
</ol>
<p>he would mark "2nd bachelor's degree". This is where FAFSA determines that he is ineligible for any Federal grant money.</p>
<p>Question 49. At the beginning of the 2006-07 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, Ph.D., EdD, or graduate certificate, etc.)? You should answer, "Yes" if you will be enrolled in a master's or doctorate program in the initial term you attend in 2007-08. If you will be finishing your bachelor's degree in the initial term of the school year and then moving on to a master's or doctorate you should first answer Question 49 as "No." Once you have completed the undergraduate degree, this Question should be corrected to "Yes" and resubmitted. You should also notify your FAA. </p>
<p>A graduate or professional student is not eligible for a Federal Pell Grant or Federal Supplemental Educational Opportunity Grant, so if you incorrectly report that you are a graduate or professional student, you will need to correct this answer to receive either of these federal grants as an undergraduate student who is otherwise eligible. </p>
<p>This question is worded differently than I remembered -- so I am glad I checked. It looks like it is just for people working on a graduate level degree -- which he would not be. In that case, he may end up a dependent.</p>
<p>Of course, you know the other determining factor is age -- If he was born before January 1st, 1985 he would meet the definition for independence based on his age. </p>
<p>I think a meeting with the financial aid office at the school he is looking at would be helpful. Not only would they be able to tell him if he would be classified as a dependent, they will also be able to give him information about institutional grants and aid.</p>