Do both parents need to fill out FAFSA 2024?
When it comes to filling out the Free Application for Federal Student Aid (FAFSA) for the 2024 academic year, many students and parents often wonder whether both parents are required to complete the form. The answer to this question depends on several factors, including the student’s dependency status and the family’s financial situation. In this article, we will explore the various scenarios to help you understand whether both parents need to fill out FAFSA 2024.
Dependency Status
The first factor to consider is the student’s dependency status. In general, students under the age of 24 are considered dependent on their parents for financial aid purposes. This means that both parents must provide information on the FAFSA form, regardless of whether they are married, separated, or divorced. However, there are exceptions to this rule.
Exceptions to Dependency Status
1. Age: If the student is 24 years old or older, they are considered independent for FAFSA purposes, and only the student’s financial information is required.
2. Marital Status: If the student is married, they are also considered independent, and their spouse’s financial information is not required.
3. Legal Guardianship: If the student is a ward of the court or has been declared a legal guardian for a sibling, they may be considered independent.
4. Emancipation: If the student has been legally emancipated or is in a foster care arrangement, they may be considered independent.
5. Dependency Due to Special Circumstances: In some cases, students who are older than 24 may be considered dependent due to special circumstances, such as being a victim of abuse or neglect.
Divorced or Separated Parents
If the student’s parents are divorced or separated, the following rules apply:
1. Joint Custody: If the parents have joint custody, the parent who claims the student as a dependent on their taxes must complete the FAFSA.
2. Primary Residence: If one parent claims the student as a dependent on their taxes and the student lives with that parent more than half the time, that parent must complete the FAFSA.
3. No Tax Return: If neither parent claims the student as a dependent on their taxes and neither parent filed a tax return, the student must complete the FAFSA with the information of the parent who provided more financial support during the previous year.
Conclusion
In conclusion, whether both parents need to fill out FAFSA 2024 depends on the student’s dependency status, marital status, and the family’s circumstances. It is essential to review the specific situation carefully to determine the correct parent(s) to include on the FAFSA form. For accurate guidance, it is recommended to consult the FAFSA website or seek assistance from a financial aid counselor.
