In all honesty, I'm sure this is commonly asked question, but I am unable to find a post regarding it. If someone could redirect me that would be great.
The question is simply: my parents have joint custody of me. Whose income do I use to fill out the FAFSA and institutional FinAid forms? Moms? Dads? Both? I won't be doing this until next year (I'm a junior), but I'm just curious.
In my case, would I get to choose which parent's income I use to file my request, and may this change year to year depending on circumstances?
If the EFC comprises both parent's incomes, does it at least account for the fact that both of my parents pay rent, utilities, cable, etc, and thus lower the contribution total?
Certain top colleges (the ones I've got my sights set on), often offer no-loan financial aid to families of a certain income level. Does this institutional system account for one parent or both?
Any amount of help given will be much appreciated. I'd REALLY enjoy some personal anectdotes.