If my parents claim me on this year's tax forms, will this affect my fafsa that i am filling out this year for next year in med school? Will it affect my aid?
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Regardless of your tax status, all medical students are considered indepedent.
Some schools may ask for your parent's tax information on the FAFSA to make you eligibile for institutional grants and scholarshps. This will not affect your eligibility for federal loans. There are no federal grants for medical students.
Some schools may ask for your parent's tax information on the FAFSA to make you eligibile for institutional grants and scholarshps. This will not affect your eligibility for federal loans. There are no federal grants for medical students.
Can anyone help me with this please:
1. My parents claim as dependent in their joint return, and I file my tax as individual without claiming me as an exemption( I had less than 2500 as income),
OR
2. My parents file jointly without claiming me as dependent ( they will end up paying more tax), and I file as an individual.
Will there be any impact on the loans given by fafsa , or the additional finaid given by individual schools.
Which is preferable
with respect to fcompleting FAFSA ( for loans)
AND/OR
with respect to the med schools in evaluating their individual financial aid ( loan,grants etc)
1. My parents claim as dependent in their joint return, and I file my tax as individual without claiming me as an exemption( I had less than 2500 as income),
OR
2. My parents file jointly without claiming me as dependent ( they will end up paying more tax), and I file as an individual.
Will there be any impact on the loans given by fafsa , or the additional finaid given by individual schools.
Which is preferable
with respect to fcompleting FAFSA ( for loans)
AND/OR
with respect to the med schools in evaluating their individual financial aid ( loan,grants etc)
If this is for medical school it will likely not matter either way. You parent's income is not considered for federal loans. You parent's income may be a factor for institutional aid regardless of your tax status.
Thanks for the info.
I understand that you have to include parents' info in fafsa to be considered for financial aid given by the school.
When you include parents' info , does one of the parents need to sign the fafsa form, in addition to myself,
or just my signature is enough, with parents info.
I understand that you have to include parents' info in fafsa to be considered for financial aid given by the school.
When you include parents' info , does one of the parents need to sign the fafsa form, in addition to myself,
or just my signature is enough, with parents info.
Just your signature is enough. You should really use the on-line FAFSA as it will be processed much, much faster. www.fasfa.ed.gov
