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I have 3 college students. For 2009-10, the younger two will be full-time undergrads. The oldest (turning 22 next month) is graduating with a BS in May 2009, but will be enrolling full-time in an associate's degree program in a different discipline for Fall 2009.
Since she is not 24 and will be working towards a second undergraduate degree (we will be supporting her and paying for school), she will be considered a dependant student. We have counted her as a member of the family attending college (questions 75 & 76) on both of her siblings' FAFSAs.
She will be applying to a master's program in this new discipline for Spring 2010, and if accepted, will transfer. Since she'll be in a graduate program, she'll go from being a dependent student to an independent student. How do we handle her change in status as far as the FAFSAs go? Do we send in a correction on her existing FAFSA, or does she just file a new one on her own?
I don't think we'll be requesting loans for her fall semester because the fees will be low, so am I correct in thinking that the cleanest thing to do would be to pay for fall out-of-pocket (no FAFSA needed for her then) and just have her file her own FAFSA if she gets into the master's program? Lastly, her change from dependent to independent under this scenario will not affect her siblings' FAFSAs, right?