Do parents or students fill out FAFSA? This question is often asked by students and parents alike when it comes to applying for financial aid for college. The Free Application for Federal Student Aid (FAFSA) is a crucial step in the financial aid process, and understanding who should fill it out is essential for a smooth application experience.
The FAFSA is a form that students and their parents must complete to determine their eligibility for federal student aid, including grants, loans, and work-study programs. While the form is designed to be filled out by both students and parents, the responsibility often falls on the student. Here’s why:
Students are primarily responsible for filling out the FAFSA because they are the ones who will be attending college and benefiting from the financial aid. The FAFSA collects information about the student’s financial situation, including income, assets, and household size, which is used to calculate the Expected Family Contribution (EFC). The EFC is a key factor in determining how much financial aid a student is eligible for.
However, parents still play a significant role in the FAFSA process. They are required to provide information about their financial situation if the student is a dependent. Generally, students are considered dependent if they are under the age of 24, unmarried, and not enrolled in a graduate program. In such cases, parents must provide their income, asset, and tax information on the FAFSA.
Here are some key points to remember about who should fill out the FAFSA:
1. Dependent Students: If the student is considered dependent, both the student and the parent must fill out the FAFSA. The parent’s information will be used to calculate the EFC and determine the student’s financial aid eligibility.
2. Independent Students: If the student is considered independent, they are solely responsible for filling out the FAFSA. This includes students who are 24 years or older, married, have children, or are veterans. Independent students must provide their own financial information.
3. Special Circumstances: There are exceptions to the dependent and independent status. For example, students who are in foster care or have been emancipated may be considered independent. It’s important to review the FAFSA guidelines and consult with a financial aid advisor if you have any questions about your status.
4. Deadlines: Be aware of the FAFSA deadlines, as financial aid is often awarded on a first-come, first-served basis. The deadline for federal financial aid is typically June 30th, but it’s best to check with your college’s financial aid office for specific deadlines.
In conclusion, while the FAFSA is primarily filled out by students, parents must still provide their financial information if the student is considered dependent. Understanding who should fill out the FAFSA can help ensure a successful application process and maximize the student’s financial aid opportunities.
