Does student or parent complete FAFSA? This question often arises when discussing the financial aid process for college students. The Free Application for Federal Student Aid (FAFSA) is a crucial step in determining a student’s eligibility for federal, state, and institutional financial aid. Understanding who should complete the FAFSA and why is essential for students and parents to navigate the financial aid landscape effectively.
The FAFSA is designed to gather information about a student’s and their family’s financial situation, which is then used to calculate the Expected Family Contribution (EFC). The EFC is a key factor in determining how much financial aid a student may receive. While the FAFSA is a vital document, it’s important to know whether the student or the parent should be the one to complete it.
Who Should Complete the FAFSA?
In most cases, the student should be the one to complete the FAFSA. The FAFSA is the student’s application for financial aid, and it is their responsibility to ensure that all the necessary information is accurate and submitted on time. However, there are exceptions to this rule.
Exceptions to the Rule
1. Dependency Status: If the student is considered a dependent for financial aid purposes, then the parent should complete the FAFSA. This is typically the case for students under the age of 24, unless they are married, have children, or are veterans.
2. Special Circumstances: In some cases, a student may be considered independent for financial aid purposes, even if they are still a dependent. This could be due to special circumstances, such as being a victim of abuse or a ward of the court. In these cases, the student should complete the FAFSA.
3. Graduate Students: Graduate students are generally considered independent for financial aid purposes, so they should complete the FAFSA on their own.
Why Should the Student Complete the FAFSA?
The student should complete the FAFSA for several reasons:
1. Ownership: The FAFSA is the student’s application for financial aid. It’s important for them to take ownership of the process and understand the information they are providing.
2. Responsibility: The student is responsible for ensuring that the FAFSA is completed accurately and on time. This includes providing correct information and keeping track of deadlines.
3. Access to Information: The student will have access to their financial aid information, which can help them make informed decisions about their education and future.
Conclusion
In conclusion, the general rule is that the student should complete the FAFSA. However, there are exceptions based on dependency status, special circumstances, and graduate student status. Understanding who should complete the FAFSA is essential for students and parents to ensure that they receive the financial aid they need to pursue higher education. By taking responsibility for the FAFSA process, students can take a significant step towards securing their financial future.
