FAFSA: Claiming my sister as a dependent.

edecastro
Mon, 25 Jun 2012 09:54:20 +0000

Have a question regarding Financial Aid:

I’m a married, independent student (undergrad). Next year, my wife (unemployed) will be going to school post-grad. My younger sister who will be living with me (i will be claiming her as a dependent). will be a sophomore in college also.

I make about $66,000 a year (40 hours/week). Will we (My wife, sister and I) be eligible for federal loans? Will there be a cap on the federal loan because I don’t make enough or something? Will be eligible for financial aid?

I ask because last year, I made about $86,000 and I was eligible for $9500 in federal direct subsidized and unsubsidized.

This year however, I will be making less, claiming an extra dependent, and all three of us will be going to school. I’m afraid we won’t be eligible to get a big enough loan to satisfy our tuition requirements.

Thanks in advance!

Best regards,
Eric