The Free Application for Federal Student Aid (FAFSA) is a form used by students and their families to apply for financial aid for college. It is an important form to fill out if you are looking for financial aid to help pay for college. One of the questions on the FAFSA is about the parents’ income. But what age does FAFSA not look at parents income?
The answer is that FAFSA does not look at parents’ income for students who are 24 years of age or older. If you are 24 or older, you are considered an independent student and you do not need to provide your parents’ income information on the FAFSA.
If you are younger than 24, you are considered a dependent student and you must provide your parents’ income information on the FAFSA. This is true even if you are not living with your parents or are not financially dependent on them.
It is important to note that there are some exceptions to this rule. For example, if you are a veteran of the U.S. Armed Forces, you may be considered an independent student even if you are younger than 24. You should check with your school’s financial aid office to see if you qualify for this exception.
In addition, if you are an emancipated minor or a ward of the court, you may also be considered an independent student even if you are younger than 24. Again, you should check with your school’s financial aid office to see if you qualify for this exception.
It is also important to note that even if you are an independent student, you may still need to provide your parents’ income information on the FAFSA. This is because the FAFSA uses your parents’ income information to calculate your Expected Family Contribution (EFC). Your EFC is an estimate of how much your family can contribute to your college costs.
In conclusion, FAFSA does not look at parents’ income for students who are 24 years of age or older. However, there are some exceptions to this rule, so it is important to check with your school’s financial aid office to see if you qualify for any of these exceptions. Even if you are an independent student, you may still need to provide your parents’ income information on the FAFSA.