Throughout the country, more than two-thirds of college students receive some form of federal or state financial aid to finance their college degree. Students receiving federal or state financial aid are required to fill out a Free Application for Federal Student Aid (FAFSA) to calculate the need for financial aid, which takes into account the parent's finances in calculating the child's need for financial aid. If you are attending college in New Jersey and your parents are unable or unwilling to provide financial support, you can increase your eligibility for federal student aid by declaring financial independence from your parents.
Instructions
1. Access the FAFSA website. Log in to the FAFSA website using your last name, date of birth, social security number and four-digit Department of Education PIN.
2. Choose to file a new FAFSA or amend your old FAFSA. After logging in, you have the option of choosing to file a new FAFSA or amend your old one. If you have already submitted a FAFSA in a calendar year, you must amend your old one to increase eligibility for federal aid. If you have not yet filed a FAFSA for a calendar year, you must file a new FAFSA.
3. Determine if you are eligible to be declared financially independent from your parents. The Department of Education recognizes seven situations in which a parent's assets are not considered when determining need for financial aid. These circumstances include the student being born before January 1, 1987, the student's enrollment in a graduate or professional degree program, marriage, providing more than half of the necessary support to a dependent, being an orphan or ward of the court or being a military veteran.
4. Declare your independence on your FAFSA. If you fall under one or more of the above categories, check the appropriate box on your FAFSA. Your parent's assets will now be ignored in determining your need for federal student aid.
5. Check with your financial aid department. If you are attending college in New Jersey, check with the financial aid department of your college after amending your FAFSA. You will now be able to increase the amount of federal and state aid received. Additionally, you may now become eligible for additional aid from the college you are attending if the college provides need-based scholarships. New Jersey colleges offering need-based financial aid include Rutgers University and The College of New Jersey.
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