Common Financial Aid Myths
MYTH: I consider myself independent because (either one or more of the following):
- My parents don't claim me as an exemption on their federal tax return
- I pay for everything and my parents cannot (or refuse to) pay any of my school expenses
- My parents live out of state and I have an Indiana address
FACT: Dependency, according to federal financial aid law, is not determined by any of the above situations. For example, a student who is classified as independent for federal tax filing purposes may or may not also be classified as independent for financial aid filing purposes. In general, your answers to the questions on the FAFSA determine whether or not you can file the FAFSA as an independent student (that means not including parent information on your FAFSA). Please look at Step 3 of the FAFSA to determine independency. If you can answer "yes" to any of these items, then you are considered independent for financial aid purposes, and can complete the FAFSA without parent data. We do offer the option of a dependency override by appeal for certain students. Please contact the Student Financial Services Office to discuss the appeal process.
MYTH: My parent(s) are both employed; I know that I will not qualify for any Financial Aid.
FACT: If a student files the Free Application for Federal Student Aid (FAFSA) they are eligible to participate in the Stafford Student Loan Program. The loan amount is based upon your grade level and FAFSA information.
