Michelle answers:

Being claimed by someone on an income tax return has nothing to do with the dependency status questions for fafsa. It won’t matter. Here are the 13 dependency status questions.
Http://www.fafsa.ed.gov/FOTWWebApp/fotw1011/WorksheetServlet?locale=en_US&wstype=WSDEP

Answer them and it will tell you if you are considered independent or dependent. Also, it’s not the date of your birthday that makes you dependent, but your age on Jan 1st of that year. So that means if you are planing on applying for financial aid for the fall, don’t wait until after your 24th birthday.. (because your age as of Jan 1st is what is used). Now is the time to apply!!! If you wait you will likely miss your states priority deadline.

Michelle answers:

In theory, the only thing you need to do in order to obtain Federal Aid is complete the FAFSA with your school’s code 6-digit code on it. However, your school can require a number of other items from you before your application is considered complete, as follows:

Make sure that your school doesn’t have a separate institutional application. Many schools do have their own form on which they collect supplemental information. If they have one, complete it ASAP for maximum consideration for financial aid.

Many schools now require their students to submit copies of parent [if you are dependent] and student tax returns, W2s included. Some schools require these items from you ONLY IF you are selected for Verification. Check the SAR (Student Aid Report) — which will be sent to you by FAFSA Central Processing once your form is processed — to see if you have been selected for Verification (this will appear in the Comments section).

If you’re been selected for Verification (or if your school is one of several that verifies ALL applicants), you will also need to complete a Verification Worksheet — either the standard federal form or a form that the school has created. This form will ask questions about your untaxed income, # in household, # in college, etc.

If this is not your first time in college, you may need to provide your financial aid office with information about your old school. There are a few schools out there that require something they refer to as a “financial aid transcript.” On this form, they might ask you for information about scholarships/awards that you received in the past. (Sometimes your current school will confirm this data directly with your old school, so be honest).

If you are a dependent student with siblings in college, your school may actually require you to send a form to your sibling’s school for his/her Registrar to certify your sister/brother’s enrollment there. (Why do they do this? Because every sibling you have in school lowers your EFC and increases your eligibility for aid.) These types of forms are more rare.

Lastly, if this is your first year in college, make sure your Admissions file is complete. Many aspects of your Fnancial Aid award depend on this. For example, your financial aid cannot be disbursed until your school has confirmed that you have earned a “qualifying degree” (i.e. They must have your final high school transcript that states that you officially graduated before you can get your money).

[See the links below for examples of some of the types of forms mentioned above.]

Michelle answers:

Until you are over 24 or meet other specifications, you need your parents’ tax information irregardless of you independence from then.

Were you emancipated as a minor? If so, you can provide documents to support this claim, and the need for your parents’ information will be overridden. However, if you’re simply saying you’re an adult that doesn’t matter.

This rule of FAFSA is that parents are generally expected to help students with education costs, but it is ultimately up to them whether they do so or not.

Michelle answers:

If you’re planning to start school in the fall of 2013, you won’t be able to complete it until Jan 1, but you should do it as soon as possible after that. Include the school codes for all the schools you applied to. That way, they will all receive your FAFSA information and can put together a financial aid “package” for you.

A financial aid package typically includes a mixture of aid from different sources, including federal loans and grants, work-study funding, state loans and grants, and school scholarships. While your federal aid will be the same at every school, funding from the other sources can vary a great deal from school to school. Often this aid is based on information from your FAFSA, so you should complete it even if you think you won’t qualify for federal grants. Since the decision to attend a particular school is often influenced by how much the school costs, it’s a good idea to send your FAFSA to every school you’re considering so you can compare the offers from each of them.

Many schools have a priority deadline, usually in March or April. Often schools have sources of aid that have a limited pool of funds. These funds are awarded first to students who complete the FAFSA and/or the school’s FA application by the deadline. You can still receive your federal aid if you apply later, but it may not be processed in time for you to start in the fall. If that happens, most colleges will require that you pay up front before the term starts, and they will reimburse you if federal aid comes in later. States also sometimes have grant or loan programs with deadlines of their own.
So….

1. Complete the FAFSA as soon as possible after January 1.
2. Include the school codes of all the schools you are interested in.
3. Pay attention to priority deadlines at the schools and for your state and make sure you complete the FAFSA and any other applications they require at least a week before the deadline.

Note: It’s a good idea for you and your parents to file your tax returns before you do the FAFSA. If you do that, you will probably be able to use the IRS Data Retrieval Tool that will import your tax information directly from the IRS into your FAFSA (instructions are given when you do the FAFSA). This greatly reduces the chance that your FAFSA will be selected for verification, and if you are selected, you won’t have to supply as much documentation so the whole process will be easier. However, don’t risk missing a deadline because you aren’t able to file your return early. You can use estimates on the FAFSA and correct them later, after you file your return.

If you have any questions about the process, give the FA department at any of the colleges you are interested in a call. They will be glad to help you.