Based on your dependency status for the 2023-2024 academic year, you will need to know whose financial information to report on the FAFSA – if you are an independent student you report yours (and, if married, your spouse’s) and if you’re a dependent student you report yours and your parents’ income.
- Must report on the FAFSA their parents’ income and assets as well as their own.
- Programs are based on the concept that a dependent student’s parents have the primary responsibility for the student’s education.
- Your parents’ information will be used to calculate your Expected Family Contribution (EFC).
- Report only their own income and assets and those of a spouse if married.
- Not living with parents or not being claimed by them on the tax form does not determine dependency status.