Question about student financial aid and dependent status....

[madmom]

Daughter is 27 years old and moved back home because of financial problems (she has no job) She is considering going back to school. According to my tax info since she is living at home and we supporting her, we can claim her as a dependent again. But according to financial aid calculators she is considered an independent student because she is 27. Does anyone know what the deal is? Can we claim her, and if we do, does it mess up her financial aid? We are living on spouses pension, FWIW.

[Lars39]

1. iirc, it would hurt her financial aid.

She wouldn't be eligible for a lot of grants.

[barbtries]

2. i don't know the answer

but i can see me being in the same boat a few years from now. :(

[Statistical]

3. It would appear at 27 she is "independent" for financial aid purposes regardless of it you claim her

Being considered an independent student is not merely a matter of being responsible for your own educational expenses. You must meet at least one of the following seven criteria to be declared an independent student for the purposes of the FAFSA:

Be 24 years of age or older by December 31 of the award year;
Be an orphan (both parents deceased), ward of the court, or was a ward of the court until the age of 18;
Be a veteran of the Armed Forces of the United States;
Be a graduate or professional student;
Be a married individual;
Have legal dependents other than a spouse;
Be a student for whom a financial aid administrator makes a documented determination of independence by reason of other unusual circumstances.


http://www.fastweb.com/financial-aid/articles/699-fafsa-and-the-independent-student

[handmade34]

4. depends on your income

I would work financial aid at all angles and go from there... if your income is low enough she may not suffer from being dependent.

Good luck to you and daughter... my 27 is home also (she had BS but still can't find work and is thinking of going back to school)

[BuelahWitch]

5. As someone said above, she is still an independent student

due to her age. Did she file a tax form for 2010? If she did they're going to want that income. Where your income might come in: the independent form has a question about money received from others on her behalf that needs to be reported. So your whole income may not need to be reported, but if you are paying any of her bills (car insurance, car payments, etc.) that will be.

You may want to call Federal Student Aid Services toll free number just to be sure. They aren't in on Sundays but usually open about 8 eastern Monday morning.