Why does my sister have to claim my parents income when applying for financial aid at college?
Full Question:
Answer:
Emancipation only relates to minors.
The U.S. Department of Education uses a need analysis formula set by Congress, along with the information reported on the application to calculate an expected family contribution. The expected family contribution measures the family's financial strength to pay for college, and is used by schools to determine the eligibility for federal student aid during one school year. The expected family contribution is not the amount that a family will have to pay for college nor is it the amount of federal student aid that the student will receive. It is a number used by the school to calculate the amount that the family will be expected to pay for college and the amount of federal student aid the student is eligible to receive. Your sister's eligibility for aid depends on her expected family contribution.