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Started By
Message
Pros/Cons of 21 y/o college student being independent
Posted on 10/30/14 at 12:31 pm
Posted on 10/30/14 at 12:31 pm
Son is 21, junior in college. Would it be in his best interest financially to be independent in terms of applying for financial aid?
5
Posted on 10/30/14 at 12:35 pm to purpngold
If under 25, I think, on the FAFSA it does not matter if you or he claims that he is independent, parents financial statements and taxes will be included. Only exception is full time military, I think.
Posted on 10/30/14 at 12:37 pm to purpngold
Vs what? You [presumably continuing] to pay for him?
In terms of just need-based assistance, it may be. But wouldn't that also mean he'd need his own health, auto, life, etc insurance?
I'm not sure what level of "independence" you're referring to.
In terms of just need-based assistance, it may be. But wouldn't that also mean he'd need his own health, auto, life, etc insurance?
I'm not sure what level of "independence" you're referring to.
Posted on 10/30/14 at 12:42 pm to LSUtigerME
vs. me continuing to claim him as a dependent and his financial aid status linked to our income. He has a job on campus. Looking for him to qualify for either a pell grant and/or subsidized loan.
Posted on 10/30/14 at 1:09 pm to purpngold
I was 21 and pretty damn independent, the more self reliant and informed your son can be the better off he will be. Unless you have a shite ton of money,you could pay me and I'll teach him how to make it work.
Posted on 10/30/14 at 1:16 pm to purpngold
he can't be independent when applying for financial aid
Posted on 10/30/14 at 1:32 pm to purpngold
Being independent is a fact-dependent test. There are a few qualifications, and if you meet any one of them, you are independent. It's hard to "make" someone independent - either you are or you are not.
Independent Test
As an aside... are you supporting your student? If you are, and you truly don't have the resources to provide for his education, that's going to come out on the FASFA form, and he'll get whatever assistance is needed. If you do have the means to support him, and instead, choose to want to let the government support him (via a grant or subsidizing interest), then, I have an issue with that.
Independent Test
As an aside... are you supporting your student? If you are, and you truly don't have the resources to provide for his education, that's going to come out on the FASFA form, and he'll get whatever assistance is needed. If you do have the means to support him, and instead, choose to want to let the government support him (via a grant or subsidizing interest), then, I have an issue with that.
Posted on 10/30/14 at 1:33 pm to purpngold
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