Independent Student
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For Independent Students

The following questions ask for the student's information. Do not enter parent information. If you are a parent filling out this form for the student, please answer the questions using the student's information.

  • 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.
  • "You" and "your" always refer to you as the student.
  • When you get to the bottom of the page, press the "Submit" button.

Student Financial Information

1. Enter your adjusted gross income: *
  $
  • Enter the adjusted gross income from your most recent U.S. federal income tax return (2011 IRS Form 1040–line 37; 1040A–line 21; or 1040EZ–line 4).
  • If no return was filed, enter the amount that you earned during the last calendar year.
  • If none, enter "0."
  • If you are married and you and your spouse filed separately, add the amount from your spouse's return.
2. Enter your federal income tax paid: *
  $
  • Enter the amount from your most recent federal income tax return (2011 IRS Form 1040–line 55; 1040A–line 35; or 1040EZ–line 11).
  • If no return was filed, enter "0." Do not copy the amount of federal income tax withheld from a W-2 form.
  • If you are married and your spouse filed separately, add the amount from your spouse's return.
3. Enter your income from work: *
  $
  • Enter the income from wages, salaries, tips, combat pay that was taxable and included in your adjusted gross income, etc., from your most recent U.S. federal income tax return: 2011 IRS Form 1040–the sum of lines 7 + 12 + 18 + Box 14 (Code A) of IRS Schedule K-1 (Form 1065); 1040A–line 7; or 1040EZ–line 1. Do not enter untaxed combat pay.
  • If no return was filed, add the amounts from your 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 that you received last year.
  • Include nontaxable interest, Social Security benefits, welfare benefits (including TANF), other government benefits, earnings from work for a college's cooperative education program, etc.
  • Do not include earnings reported in the adjusted gross income figure.
  • If you are married, include any untaxed income and benefits that your spouse received last year.
5. Enter the total amount of your (and your spouse's) 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.


Student General Information

6. Enter your year of birth: *
  19 Enter the year that you were born.
7. Select your state of legal residence: *
  Select your state of legal residence from the list provided.
8. Select your marital status: *
  Select the choice that applies to you.
9. Enter the number of members in your family: *
  How many people will you support while you are in college?
Include:
  • yourself (and your spouse, only if married). Do not include information about your spouse if you are divorced, separated, or widowed.
  • your children, if you will provide more than half of their support support between July 1, 2012 and June 30, 2013.
  • other people who live with you and for whom you provide more than half of their support support between July 1, 2012 and June 30, 2013.
10. Enter the number of your family members who will be enrolled in college support between July 1, 2012 and June 30, 2013.: *
 
  • Always count yourself as a college student.
  • Include others only if they will attend, at least half-time, a program that leads to a college degree or certificate.


Additional Financial Information

11. Enter your spouse's income:
  $
  • If you are married, enter your spouse's income earned from work.
  • Include the income from wages, salaries, tips, combat pay that was taxable and included in your adjusted gross income, etc., from your most recent U.S. federal income tax return: 2011 IRS Form 1040–the sum of lines 7 + 12 + 18 + Box 14 (Code A) of IRS Schedule K-1 (Form 1065); 1040A–line 7; or 1040EZ–line 1. Do not enter untaxed combat pay.
  • If no return was filed, add the amounts from your spouse's W-2 forms.
  • If you and your spouse filed a joint return, enter only your spouse's earnings.
12. Enter your real estate/investment equity:
  $
  • Enter the total equity (current value minus debt) of real estate and investments that you and/or your spouse own. Real estate includes rental property, land, and second or summer homes.
  • Do not include your 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, non-education IRAs, Keogh plans, etc.).
13. Enter your business and/or farm equity:
  $
  • If you and/or your spouse 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 if you and/or your spouse own and control more than 50 percent of the business and the business has 100 or fewer full-time or full-time-equivalent employees. For small business value, your family includes (1) persons directly related to you, such as a parent, sister or cousin, or (2) persons who are or were related to you by marriage, such as a spouse, stepparent or sister-in-law.
  • 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 you own an investment farm and a business, enter the sum of the two equities.