Right Place, Right Time for Federal Aid | 10.15.09

Posted in FAFSA, Federal Work-Study, Financial Aid, Stafford Loan By Student Loan Network Staff

So much of life is being in the right place at the right time.  The guy behind you at the convenient store may be the one to scratch that winning lotto ticket while you may be the one that gets hit pulling out of the parking lot.  It’s all about timing.  It’s all relevant.  It’s all this thing we call life.

America has seen a surge in the average age of students enrolling in college (non-traditional) over the past few years since the economy went south.  For once being older may work in your favor.

When completing the FAFSA, if you are under the age of 24 you are listed as a dependent student, unless you are emancipated or married for the most part.  That’s why many students get so frustrated.  Those who are say 22 and living on their own still need to list their parents information on their FAFSA despite the fact that their parents are not helping pay for college.  It doesn’t really seem fair.  But for all of you nontraditional students (ages 25 or older) you can rejoice.

Gone are the days of listing your parents income.  Finally you can cash in on the fact that you barely have enough money for a slice of pizza on a Friday night.    And if you have children, even better.  All of these factors work in your favor to help maximize the federal aid you are eligible for.   And you thought getting old was a bad thing.

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