FAFSA application and financial aid eligibility?

I'd just like to make sure I'm in the clear here.

I am filling out my financial aid information and have come across something intriguing. A few years ago I tried to apply for financial aid and lived on my own with no support but couldn't qualify because they wanted my parents income information. Now the tables have turned. I am 23 and living under my parent's roof again while I attempt to finish my college degree.

On the application, it says that I am 'Independent' because I am 23 or older. Under 'Household/Family Size' it says that I should only include a spouse or dependents that receive more than half of their support from me. I make less than what is required for 'Automatic Zero'.

Can I really take this to mean that I can make no money, live with my parents and simply because I'm over the age limit, I am still Independent and my EFC is really zero?

No, at this stage you would still have to include your parent's income information. You have to be 24 or older **at the time you complete the FAFSA** in order to be considered Independent, not 23. The question is "Were you born before January 1, 1984?" for the 0708 FAFSA; it will be "Were you born before January 1, 1985?" for the 0809.

If you are still living with your parents once you do turn 24, then yes, you do not have to include their income information.

Talk to a financial aid officer at your school for more information. Good luck!

yes you can. dont expect them to give you enough money to meet all your expenses though. you may still need some extra, loans or a part time job

You will have to continue to include your parent's income on your FAFSA application until you turn 24. In order to receive Federal Financial Aid you must include your parent's income on your application even if you have declared yourself as independent up until you are 24 years of age.

If you have exhausted all your Federal Financial Aid or you are not eligible for Federal Financial Aid, a second option available to you is a Private Student Loan. However, make sure you do your research if you choose to take out a Private Student Loan as there are many companies out there that only offer you scams.

For more information please visit the source below, hope this helps you out!

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