How much money can I make before losing financial aid having deceased parents and legal guardian?

Paying for College
1

Hi, I just turned 21, my legal guardian passed away, I don’t have support from my parents, so I’m basically independent now. How much can I make per year without losing financial aid, and having a deceased guardian? I heard I’m suppose to earn less than $6400 if I don’t want to lose my financial aid, but I don’t know if that would apply only for dependent students. Thank you.

2

Sorry about the loss of your guardian. You do know your guardian’s income should not have been included when applying for aid, right? Since your parents are apparently alive you still need to figure out if you qualify as independent. Just being estranged usually doesn’t work. You would be indy if you were placed in a legal guardianship after age 13. As a family of one it looks like you can earn up to $19,535 for maximum benefits, according to the table here for 2015-16. https://www.forbes.com/sites/troyonink/2015/03/31/do-you-earn-too-much-to-qualify-for-college-financial-aid/#2983adec4133

I’m probably wrong so this reply should serve as a “bump” and maybe the day shift will help. Good luck.

3

I am sorry for your loss.

Were you in court ordered legal guardianship?

If yes, you are still independent for federal aid.

Are you a current student at your college? If yes, you could probably meet with the financial aid officer (not a student worker), who can explain to you how to proceed.

Unfortunately, independent students without dependents other than a spouse cannot receive an automatic zero EFC.

https://studentaid.ed.gov/sa/sites/default/files/2017-18-efc-formula.pdf

4

Your title and your OP are confusing. Your title indicates that your parents are deceased as well. Is that true? Or is only your guardian deceased?

BTW…does a 21 year old have a legal guardian? Wouldn’t that cease at the age of majority?

5

If you are indeed independent for FAFSA, then your income protection allowance is higher than the one for dependent students ($6,420), it’s $9,980 for single student. There is also a deduction for federal, state and social security tax paid.

https://studentaid.ed.gov/sa/sites/default/files/2017-18-efc-formula.pdf

^(page 21 is the independent student worksheet)