How to Know Your FAFSA File Status and What You Need to Fill it Out
We want to be sure you feel ready to file for student financial aid for the upcoming school year, so we did some research on the Free Application for Federal Student Aid (FAFSA). The FAFSA is the application students complete to determine financial aid eligibility and must be filled out every academic year.
FAFSA filing for 2021-22 opens on October 1st, 2020. Each state has different deadlines for the FAFSA. You can see the deadlines here.
A quick note: If you filed for the FAFSA previously, and experienced a change in income or a total loss of a job, the Department of Education has information on what you can do to adjust your current filing status.
Filing Independent versus Dependent: Which One is Me?
Filing a W2 and claiming yourself on your taxes may make you think that you can/should claim yourself as an independent on your FAFSA, but that’s not always the situation.
If You Are Financially Independent, But Still Live With Your Parents…
Your parents will still need to put in their financial information. Here’s why:
For many students, you may be living at home but expected to financially support yourself throughout your higher-education career. However, the Department of Education recognizes that even if you are financially responsible to finance yourself through college, your parents are still ones financially responsible for the household.
Simply put, you live at home and/or your parents assist in financially providing for you in some way points to filing as a dependent.
Your parents are not obligated to provide support once FAFSA information has been filed. Claiming dependent status just gives the Department of Education a better understanding of what type of student loans you’ll receive.
Here’s a great infographic from studentaid.ed.gov to help navigate your independent/dependent filing status:
Who’s My Parent When I Fill Out the FAFSA?
Every family dynamic is different, so here’s a helpful infographic to walk you through defining your parent status before filling out the FAFSA. Or you can visit the FAFSA website to follow the text version of this infographic.
You May File as an Independent for the FAFSA, If You Can Say ‘Yes’ to Any of the Following…
• Are you 24 years of age or older by December 31 of the award year?
• Are you an orphan (both parents deceased), ward of the court, in foster care or was a ward of the court when 13 years or older?
• Are you a veteran of the Armed Forces of the United States or serving on active duty for other than training purposes?
• Are you a graduate or professional student?
• Are you a married individual?
• Do you have legal dependents other than a spouse?
• Are you an emancipated minor or in legal guardianship?
• Are you a homeless youth?
• Are you a student for whom a financial aid administrator makes a documented determination of independence by reason of other unusual circumstances?
Here’s Everything Else You Need to Fill Out the FAFSA
1. Your FSA ID. This is a username and password you can use to log in to U.S. Department of Education websites. One parent of each dependent student will need an Federal Student Aid (FSA) ID. You can create your ID, even if you’re not ready to file for the FAFSA yet. Create a FSA ID.
2. Your Social Security number.
3. Your driver’s license number.
4. Your 2016 tax record information. The Department of Education recently modified this process by requiring a year earlier of your tax records. Beginning this year, you’ll report 2016 information instead of 2017.
5. Records of parent’s untaxed income. This could include child support received, interest income, or veteran benefits.
6. Records of assets. This includes savings/checking accounts, stocks, bonds, and real estate (except the home which your family lives).
7. List of colleges/universities you have considered attending. You can always modify this list later, so add as many considerations as possible to receive all financial aid information.
What if I Live At Home, But My Parents Don’t Want to Provide Their Information?
Even if you plan on paying for college independently, the FAFSA still requires your parent’s information. Here’s some information regarding, “What if my parents are unwilling to provide their information on my FAFSA form”?
