How does a parent in college effect FAFSA? Part-time and/or full-time student?
I am in a very flexible program and am wondering if it makes sense to stretch it out so I am in school the same time as DS20, as far as financial aid planning goes. I expect DS20 to be full-time and I would be part-time as I have been.
I have a couple of books and have practiced on past FAFSAs, but seem to be missing that piece.
Thanks!
Parent in college has no effect on student’s financial aid.
So no change in EFC since two family members will be in college at the same time? It only changes (EFC /2) if there are two children attending school at the same time?
FAFSA question # 74 (in the parent information section):
How many people in your parents’ household (from question 73) will be college students between July 1, 2018 and June 30, 2019?
Always count yourself as a college student. Do not include your parents. Do not include siblings who are in U.S. military service academies. You may include others only if they will attend, at least half-time in 2018-2019, a program that leads to a college degree or certificate.
(emphasis added)
Much appreciated!!
Section 479A [20 USC 1087tt] allows financial aid administrators to exercise professional judgment regarding a student’s fin aid for “the number of parents enrolled at least half-time in a degree, certificate, or other program leading to a recognized educational credential at an institution with a program participation agreement under section 487”.
What this means is one has to contact the fin aid office at schools on your student’s list to discuss fin aid ramifications if you are attending college. As your daughter is still a year away from applying, this will come into play next fall. Many schools will make adjustments to a student’s fin aid if a parent is attending college, and it meets the criteria laid out in sections 479A and 487.
I think “some” schools will make an adjustment when a parent is in college.
“Many” implies that this would be strongly likely…and it isn’t.
But the student certainly can ask.
My bet is the adjustment won’t reduce the EFC by half like it does when a sibling is in college. Also, a lot depends on the college and aid awarding policies. If the student’s college doesn’t meet full need, the EFC might go down…but the need based aid won’t necessarily increase anyway.
ETA…@kelsmom I know the student doesn’t automatically get to include the parent…but doesn’t the parent in college get to include the student if the parent files a FAFSA?
Yes, parent can include student in count on parent’s FAFSA, but not the reverse.
If I remember correctly, the rule to exclude student-parents being counted on children’s fafsa’s came about because too many parents were enrolling at a CC in order to “count” on their child’s fafsa (to qualify for Pell), and then withdraw.
Thanks. That makes sense.