Independent Student
Dependent Student
 
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For Dependent Students

Provide the appropriate information for each of the entries below.

Items marked with * are critical. If you leave a critical field blank, the calculations may not provide an accurate estimate.

"Your" always refers to the student. "Your parents" refers to the parent with whom the student lives more than half the time and that person's present spouse, if any. If you lived with both parents equally (divorced/separated), provide information for the parent (and that person's present spouse, if any) who provided the greater level of financial support in the past year.

When you get to the bottom of the page, press the "Submit" button.

Student Financial Information

1. Enter your adjusted gross income: *
  $ Enter the student's adjusted gross income from the student's most recent U.S. federal income tax return (2007 IRS Form 1040-line 37; 1040A-line 21; or 1040EZ-line 4). If no return was filed, enter the amount the student earned during the last calendar year. If none, enter "0."
2. Enter your federal income tax paid: *
  $ Enter the amount from the student's most recent federal income tax return (2007 IRS Form 1040-line 57; 1040A-line 35; or 1040EZ-line 10). If no return was filed, enter "0." Do not copy the amount of federal income tax withheld from a W-2 form.
3. Enter your income from work: *
  $ Enter the amount the student earned from work. Include the income from wages, salaries, tips, combat pay, etc., from the student's most recent U.S. federal income tax return: 2007 IRS Form 1040-the sum of lines 7 + 12 + 18 + Box 14 of IRS Schedule K-1 (Form 1065); 1040A-line 7; or 1040EZ-line 1. If no return was filed, add the amounts from the student's W-2 forms. This may or may not be the same as the answer to the adjusted gross income question.
4. Enter your untaxed income and benefits: *
  $ Enter the total amount of untaxed income and benefits the student received last year. Include nontaxable interest, Social Security benefits, welfare benefits (including TANF), other government benefits, etc. Do not include earnings reported in the adjusted gross income figure.
5. Enter the total amount of your current savings and checking accounts: *
  $ Enter the current or estimated balance of savings and checking accounts. Do not include lump sum pension funds or student financial aid.


Parent General Information

6. Select your parents' marital status: *
Select the current marital status. If the student's widowed parent has remarried, select "Married/Remarried." If the student's parents have divorced or separated, select the current marital status of the people the student has lived with the most during the last 12 months. For example, if the student lives with his or her mother and stepfather, select "Married/Remarried."
7. Select their state of legal residence: *
Select the parents' state of legal residence from the list provided.
8. Enter your father's/stepfather's date of birth:
 /  / 
mm / dd / yyyy		 Enter the date of birth of the father/stepfather with whom the student has lived the most during the last 12 months.
9. Enter your mother's/stepmother's date of birth:
 /  / 
mm / dd / yyyy		 Enter the date of birth of the mother/stepmother with whom the student has lived the most during the last 12 months.
10. Enter the number of members in your family: *
  How many people will the parent(s) support during the time the student is in college? Include the parent(s), the student, and the parents' other children if the parents provide more than half of the support during the academic year or children who can answer "no" to all seven dependency questions. Include others who live with and receive more than half of their support from the parent(s) and will continue to receive more than half of their support during the academic year. Note that grandparents and legal guardians are not parents.
11. Enter the number of these family members who will be enrolled in college: *
  Of the people included above, how many will be in college at least half time in a program that leads to a college degree or certificate, while the student is in college? Always include the student, even if the student will be enrolled less than half time. Don't include any parents.


Parent Financial Information

12. Enter your parents' adjusted gross income:
  $ Enter the parents' adjusted gross income from their most recent U.S. federal income tax return (2007 IRS Form 1040-line 37; 1040A-line 21; or 1040EZ-line 4). If no return was filed, enter the amount the parent(s) earned during the last calendar year. If none, enter "0."
13. Enter the amount of federal income tax your parent(s) paid last year:
  $ Enter the amount from the parents' most recent U.S. federal income tax return (2007 IRS Form 1040-line 57; 1040A-line 35; or 1040EZ-line 10). If no return was filed, enter "0." Do not copy the amount of federal income tax withheld from a W-2 form.
14. Enter your father's income from work:
  $

Enter the amount the father earned from work. Include the income from wages, salaries, tips, combat pay, etc., from the parents' most recent U.S. federal income tax return: 2007 IRS Form 1040-the sum of lines 7 + 12 + 18 + Box 14 of IRS Schedule K-1 (Form 1065); 1040A-line 7; or 1040EZ-line 1. If no return was filed, add the amounts from the father's W-2 forms.

If the parent(s) own a business or farm, also add in the amount from the IRS Form 1040-lines 12 and 18.

If the parent(s) filed jointly, enter the father's and mother's incomes separately.
15. Enter your mother's income from work:
  $

Enter the amount the mother earned from work. Include the income from wages, salaries, tips, combat pay, etc., from the parents' most recent U.S. federal income tax return: 2007 IRS Form 1040-the sum of lines 7 + 12 + 18 + Box 14 of IRS Schedule K-1 (Form 1065); 1040A-line 7; or 1040EZ-line 1. If no return was filed, add the amounts from the mother's W-2 forms.

If the parent(s) own a business or farm, also add in the amount from the IRS Form 1040-lines 12 and 18. If this amount was already added to the father's income from work, do not add it here.

If the parent(s) filed jointly, enter the father's and mother's incomes separately.
16. Enter your parents' untaxed income and benefits:
  $ Enter the total untaxed income and benefits the parent(s) received last year. Include nontaxable interest and dividends, welfare benefits (including TANF), Social Security benefits, child support, Worker's Compensation, Earned Income Credit, etc.
17. Enter the total amount of your parents' savings and checking accounts:
  $ Enter the current or estimated balance of savings and checking accounts. Do not include lump sum pension funds or student financial aid.
18. Enter the amount of your parents' real estate/investment equity:
  $

Enter the total equity (current value minus debt) of real estate and investments. Real estate includes rental property, land, and second or summer homes. Do not include the parents' home.

Investments include trust funds, UGMA and UTMA accounts, money market funds, mutual funds, certificates of deposit, stocks, stock options, bonds, other securities, Coverdell savings accounts, 529 college savings plans, the refund value of 529 state prepaid tuition plans, installment and land sale contracts (including mortgages held), commodities, etc.

Do not include the value of life insurance policies or retirement plans (pension funds, annuities, noneducation IRAs, Keogh plans, etc.).
19. Enter the amount of your parents' business and/or farm equity:
  $

If the parent(s) own an investment farm, enter the equity of the farm (current value minus amount owed). Do not include a family farm if it is the principal place of residence. Do not include the value of a small business that your parents own and control and that has 100 or fewer full-time or full-time-equivalent employees.

Business or farm equity is the total of the market value of land, buildings, machinery, equipment, and inventory minus the debts for which the business or farm was used as collateral.

If the parent(s) own an investment farm and a business, enter the sum of the two equities.