Expert: Tim G - 3/29/2009

Question
If my son and his girlfriend, both are 18 years old, get married after their senior year of high school and both are college freshmen how will their income be calculated for financial aid?  They both will be full time students and will only have part time jobs.  

Will their financial status still be considered with their respective parents for the first year of college?

Will the calculation differ if they are married, full time college students, but living in one of their parent's homes?

Thanks!

Answer
If they are married at the time they fill out the FAFSA (http://www.fafsa.ed.gov) they have to list themselves as married. But, if they fill out the FAFSA before they are married and list themselves as single, and then get married they don't have to update the FAFSA until next year.

He could go about this situation two different ways.

1. If your son lists himself as single (when he is not married yet) then the Dept of Education would consider him a dependent student. Your income would need to be reported with his on the FAFSA. He would still be able to receive the PELL grant, and many other grants that he is eligible to receive. The downside to this situation is he will only receive subsidized loan funds, and would not be eligible for unsubsidized loans (you would have to take out a PLUS loan to cover any expenses not covered...please note, most community colleges are be covered by PELL and the subsidized loan). Another downside is if you make a lot of money every year, the amount of funds he is eligible for could be reduced.

2. If your son lists himself as married (after he is married) then the Dept of Education would consider him an independent student. Even if he lives with you he would only need to report his income and his wife's income on the FAFSA. He would still be able to receive the PELL grant, and many other grants that he is eligible to receive. He would be able to receive the subsidized and unsubsidized loans. The downside to this is if the combined income is too high then the amount of funds he is eligible for could be reduced.


Please note that either situation may be asked to be proven with a process called verification (schools are required to verify a certain percentage of the FAFSA applications they receive [most need last years taxes, and a form listing those who live with the student). Once he decides which path to take he must be prepared to prove the information is correct in the event he is asked (may not happen, but is a possibility).