General Question

moon_under_water's avatar

When applying for financial aid as an independent student, should I file a schedule C?

Asked by moon_under_water (37points) December 14th, 2006
I have the option of filing my taxes as self-employed for 2006, but it's not necessary. I need to fill out the FAFSA application for grad school and I'm not sure what the best thing to do is. I qualify as an "independent student," and my income is pretty low.
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4 Answers

burlapmellish's avatar
For graduate programs, it matters little. Size of your income and resources are more important than the source. If you have low income they will make Stafford loans available to you.
burlapmellish (110points)“Great Answer” (1points) Flag as…
vered4's avatar
We learned the hard way that you MUST be 25 years old to qualify as an 'independent' even if you are truly independent and only 22.... It seems so unfair that an independent 22 year old's FAFSA totally looks at both parent's income....and disqualifies one from various options.
vered4 (60points)“Great Answer” (0points) Flag as…
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