Will moving away from home change my financial aid?

Asked by livelaughlove21 (15724

) June 5th, 2011

I’ve been in college for awhile and it’s been paid for by the Pell Grant and a Stafford Loan that I get by filling out my FASFA. Since I started school, I’ve been living with my parents and filing the application with their low income in addition to my own.

I recently moved out on my own with a roommate and I’d like to get all of my address information changed, including with the school. I already filled out my FASFA for this upcoming year with my parent’s information and my awards have been processed.

**Here are my questions:**

I hear that I have to use my parents’ tax information until I’m 25, whether I live with them or not. First of all, is that true?

Secondly, do you think they’ll give me less or more financial aid money when I put that I’ll be living away from home, or will it be the same?

Lastly, will it make a difference this year or will it wait until I have to fill out another FASFA to change, even when I change my address at the school?

I’m just worried that if I tell them I live away from home, they won’t pay for me to go to school. I can’t afford to pay out of pocket for it. I know I should ask financial aid, but they aren’t being very helpful.

financial aid

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5 Answers

If you are still dependent on your parents (and they claim you on their taxes), they should still be able to request grant and loan information on your behalf. It is not at all uncommon for college students to live on or near campus in one state while their parents live in another state altogether. Think about the forms you filled out for school-related things—they nearly always ask for your current residence (think campus) and your permanent address (think parents). Check with your school’s financial aid office to make sure.

Kayak8 (16457

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@Kayak8 Well my parents haven’t claimed me on their taxes since I was 18 (I’m now 21), but I still have to include their information because of my age.

livelaughlove21 (15724

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They have good grounds to require your parents’ information (to confirm your claim of independence when you make it, and to assure they aren’t claiming you as a deduction for taxes), but depending on your state’s definition of ‘independent’ you could be qualified for more aid after a year (or 2? or 3?). Once you are considerred independent it’s a matter of your income alone against your typical expenses as a student to determine assistance.

dabbler (18896

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Moving away from home does not change your financial aid.

You are considered a dependent student until you become 25 unless you get married, become orphaned, are working on a graduate degree, are a veteran, or have dependent children. Whether you are actually supported by your parents is immaterial.

nikipedia (28095

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Thanks to all of you for your answers. Very helpful. I’m glad that’s cleared up now. :)

livelaughlove21 (15724

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