My girlfriend and I are highly considering marriage, but we want to know how it will change our financial aid status. Currently I will be entering my senior year in Undergraduate school where I already have been ‘rewarded’ a financial aid package consisting of different types of loans and grants. This package is good enough for us to survive throughout my final year. I will be 28 years old entering my senior year and plan to go on to Graduate studies.
She, who is 22 now, currently isn’t getting financial aid as she is still considered a dependent until she is 24 (I believe that is the financial aid ruling). As such, she is not going to school. Now, if we married, she would no longer be a dependent and thus, she would be eligible for financial aid. Considering we did not make all that much money last year (our income was $33,000 together (I made $13,000 or so)) I am guessing she would get good financial aid (meaning grants as she wants to attend community college first and have it entirely paid for by grants).
My questions are:
If we married in late June would we be able to get her financial aid status and thus, grants, for the fall 2017 semester?
If we do get married and considering we made only $33,000 with no other assets available, could we expect to get financial aid grants for her? Would this effect my current financial aid status/award letter and thus result in me not getting rewarded grants/loans?
Any other information I should take into consideration?
The goal here would be for me to keep my financial aid status as I have accepted the award letter from my school, and then for her to apply for financial aid under the independent status and thus, obtaining the federal pell grant allowing her to go to school at a community college. I’ve been told this is possible from another source, but I want to cross-check it here.
Yes, probably…assuming that she hasn’t already filed FAFSA. If she files AFTER you get married, then she probably would qualify since only your incomes would be used.
@kelsmom please chime in. Would it be an issue at all that the future hubby would have already filed as single, but then he marries and new-wife files FAFSA for the first time this year for Fall 2017?
When married you would be considered independent from your parents. You will have to check the NPC of each school to determine your actual costs and complete the FAFSA. If you are going to marry anyway, head over to your country clerk ASAP and file the paperwork so you are legally married and file the correct FAFSA the first time. You can still have your wedding whenever you wish. The financial aid office at the college may or may not accept your updated marital status, it is much better never to have filed the single one. You will have to call them to see if they will alter your award based on your updated marital status.
@Thumper, I understand that she would use both incomes for financial aid (which ends up being $33,000). I am pretty sure we’d be able to get her the pell grant at that rate. The problem would be if the married status/filing out her FAFSA would affect my loans/grants in any way (even after I’ve accepted them).
@TooOld4School, I am already considered independent and have already accepted my award letter for my senior year of college. The goal here is to get my wife from dependent to independent status so that she would be eligible for pell grants (since her parents made too much money as a dependent). I’d rather not report anything to my school and simply accept my award letter as it is. I’ve heard from other sources that this would be OK.
See what the EFC (fededal methodology) would be with both your 2015 incomes. The EFC might be higher than you think. How much does the community college cost?