Filing tax as a dependent?

[Trisphorin]

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I am in the process of filing FAFSA for the upcoming school year. When my parents met with their CPA yesterday, the CPA advised them to file the tax with me as a dependent to optimize tax return. However, I remember the financial aid office said during interview that all medical students are considered as an independent. Does filing as dependent or independet has any effect on my financial aid package? or whether I can get the government student loan?

Thanks!

 

[DrMidlife]

Two different things:
1. what the IRS calls you (this mostly just affects your parents)
2. what med school financial aid offices call you (this mostly affects free money, not fed loans)

Federal loans for professional school don't take your income or your parents' income into account. Everybody is eligible to borrow full cost of attendance at the same rates.

Scholarships and institutional aid at your med school consider your family's contribution.

Assume your parents have to release their tax returns and plan accordingly.

Best of luck to you.