Full question:
My sister is 21 years old, lives on her own, has a job, and pays all of her own bills. She still has to claim our parents income when she applies for Federal Aid for college, when they do not contribute. I was wondering how it would go for her to emanicpate herself from our parents since she is not a minor.
- Category: Debts and Credit
- Date:
- State: Louisiana
Answer:
Emancipation applies only to minors. For federal student aid, the U.S. Department of Education uses a need analysis formula set by Congress, along with the information provided in the application, to calculate an expected family contribution (EFC). This EFC assesses the family's financial strength to pay for college and helps schools determine eligibility for federal student aid for one school year. It is important to note that the EFC is not the actual amount a family will pay for college or the amount of federal student aid a student will receive. Instead, it serves as a guideline for calculating the expected financial contribution and aid eligibility. Your sister's aid eligibility depends on her expected family contribution.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.