<p>When i read the title, I thought it was asking a legal defintion, like 18 to vote and sign a contract, 21 to drink, 26 to be off of parents’ health insurance. Is there something for 24 or any other age?</p>
<p>“In our culture a kid is considered to be an adult when he has the capacity to support himself on his own.”
-Then close to 50% of USA adult population are NOT adults. </p>
<p>“Is there something for 24 or any other age?”</p>
<p>FAFSA independence!</p>
<p>18 for voting, contracts, buying lottery tickets, health care decisions, having to show an ID to board an airplane, but not to sign yourself out for high school or excuse a tardy; my daughter can now sell, serve alcohol, but can’t buy it or drink it herself (she can now twist the caps off at the register at Moe’s)</p>
<p>21 for drinking, renting some cars
25 for renting cars</p>
<p>“Is there something for 24 or any other age?”</p>
<p>FAFSA independence!</p>
<p>-I do not think so. Parents of Medical Students still file FASFA as far as I know. Medical students cannot afford working. I do not know how it works if they are not married and in their 30s. That would be interesting to know!!!</p>
<p>That’s like asking your tax accountant what “earned income” is. Depends on the form.</p>
<p>I don’t think I’ll ever really think of my children as “adults”. But I’ll pretend that I do, especially when they are changing my diapers.</p>
<p>" But I’ll pretend that I do, especially when they are changing my diapers. "
-This is an ultimate definition. Kuddos for pointing to this one. I agree. Not sure if it will ever happen to me as I can see my kids continue living at different location and we have no desire to move there.</p>
<p>Kids are also not subject to “kiddie tax” after they are 24+. That is something I just learned, when I was trying to figure out how best to help our S and D. Since D is in low bracket, could gift her with appreciated asset and she’d owe NO or very low long term capital gains. Cash would be better for S, as we think he’s in higher tax bracket. </p>
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<p>How it is I guess. Keep in mind that a lot of that 47% are elders on social security. </p>
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<p>It does not work that way. Most undergraduate college students are considered dependent on their parents for financial aid purposes unless they are age 24, in or veteran of military service, or currently married.</p>
<p><a href=“http://studentaid.ed.gov/fafsa/filling-out/dependency”>http://studentaid.ed.gov/fafsa/filling-out/dependency</a></p>
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<p>Students working on MD degrees are counted as independent students:
<a href=“http://studentaid.ed.gov/fafsa/filling-out/dependency”>http://studentaid.ed.gov/fafsa/filling-out/dependency</a></p>
<p>My understanding is that the student has to declare financial independence (not sure what that entails) and become an emancipated minor and not be included as a dependent on your parents’ tax return for 2 tax years before they enter college. So that means a Fall 2014 entering student would have to be financially independent and not living with you for all of 2012 and 2013. Essentially it means you have to dump them on the street for a few years during high school, not exactly the kind of thing we all are talking about in this thread. Google it and you will see it is practically impossible even when the kid really is on their own or has parents who refuse to help pay for college.
FAFSA says: until you are 24, or married, or military, provide your parents income for aid. </p>
Obamacare says at 26. Since the health is the most important factor in person’s life, then forget the rest, it is 26 y o.
I just wonder why they did not use 40 or 50 for that matter.
S has been paying all his own bills for the past nearly 4 years, as well as filing his own tax returns and living in his own place. We considered him independent from then on. He was 23.
He opted to remain on our policy until aging out at age 26, even tho his employer offered medical coverage and would have paid 67% of premiums. There was no extra charge for us and our policy is great! We do still have hi on our family phone bill–$118 for 4 smartphones, since its a great deal.
Why was a year old thread bumped for a comment about the ACA?
ETA: I’m getting a kick out of skimming some of these answers. I’ll be sure to let my parents know that they’re not adults since they’re not financially independent 
The 26 year old age was determined statistically in large part, that a large percentage of young people between 18 and 26 had no health insurance, in part because jobs that young people are getting these days often don’t have health insurance. With kids going to college the cost under the school is often a lot more expensive then the differential in cost on the parent’s plan having the kid on there as well. I think it reflected the notion that young people starting out should have medical care if they need it that doesn’t end up in the emergency room. Among other things, young people in that age group are some of the most likely to end up at ER’s when they get sick outside the very poor.
“Why was a year old thread bumped for a comment about the ACA?”
A sarcastic comment at that. And you wonder?