Should I skip questions about my parents assets on fafsa?

Can I Skip FAFSA Questions About Assets? You can only skip FAFSA questions about assets if you meet the qualifications to do so based on your answers to other questions on the application. However, that’s only because your asset information at that point doesn’t affect your eligibility for federal student aid.

Does it matter how much your parents make for fafsa?

One of the biggest myths about financial aid is that you shouldn’t apply if your family makes too much money. But the reality is that there are no income limits with the Free Application for Federal Student Aid (FAFSA); any eligible student can fill out the FAFSA to see if they qualify for aid.

What happens if you only have one parent on fafsa?

Yes, provided that the parent you’re living with is the one filling out the FAFSA (your custodial parent). If your stepparent is married to them at the time you fill out the FAFSA, they must report their income and assets even if they weren’t married to them in the previous year.

Does FAFSA look at assets?

Assets must be reported on the FAFSA as of the date the FAFSA is filed. In practical terms, this usually requires reporting the net worth of the asset as of the most recent bank and brokerage account statements.

How do I fill out FAFSA without parents?

If you still can’t navigate around your parents, your last option would be waiting until you’re legally considered an independent student. Students are able to file their FAFSA® as an independent at the age of 24. In this case, you’ll only have to provide your financial information.

Can a grandparent fill out the FAFSA for a parent?

— J.M. Grandparents and other relatives may not substitute their information for the parent’s information on the Free Application for Federal Student Aid (FAFSA) unless they have legally adopted the student. Generally, only biological and adoptive parents are responsible for completing the FAFSA.

What if I can’t provide information about my parents on the FAFSA?

Contact your university’s financial aid office and explain your situation; see if they have university-specific advice or protocols. If you can’t provide information about your parents on the FAFSA, then please skip Steps 4 and 5, and go to Step 6.

Who is responsible for filling out the FAFSA if the parents are divorced?

If the student’s biological/adoptive parents are divorced, only the custodial parent is responsible for completing the FAFSA. (The custodial parent is the parent with whom the student lived the most during the 12 months ending on the FAFSA application date.

Can I get financial aid if I don’t live with parents?

If you don’t live with your parents, you may be considered an independent student in terms of the FAFSA. This will likely increase the amount of aid that you’re eligible for. Many or all of the companies featured provide compensation to LendEDU. These commissions are how we maintain our free service for consumers.