How can I find out if I am income-eligible for Federal Student Aid for continuing education in Ohio?
My husband and I both are employed, and I have two young adult children as well as myself who would like to go to college or technical schools, but we are unsure if our combined incomes are too much. Is there a guideline posted somewhere that I can check against to appease my curiousity and help decide whether we need loans or can qualify for grants?
There is not a chart. The only way to know is to file a FAFSA at www.fafsa.ed.gov. Every families individual financial situation is run through a formula. You will be eligible for more then your children, as on your FAFSA, it will be considered that there are 3 family members in college, where as on your children’s FAFSA, you will not count as a family member in college, so their FAFSA will only have 2 family members in college. (if your children are 24 or older they will be considered independent studnets)
Once you file your FAFSA, you will need to check with the school or school(s) you all are wanting to attend. The school will offer you a financial aid award. The FAFSA is simply the “tool” the schools use to determine what aid and how much you are elgible for.
Good luck to all of you!