Financial Aid Purposes refers to the use of financial assistance in order to help students pay for their college education.
Full definition
Because you will be working towards completion of a graduate degree, you are automatically considered an «independent» student
for financial aid purposes.
Veteran For
Federal financial aid purposes such as determining dependency status, a veteran is a former member of the US Armed Forces (Army, Navy, Air Force, Marines or Coast Guard) who served on active duty and was discharged other than dishonorably (i.e., received an honorable or medical discharge).
Each school has a satisfactory academic progress policy for
financial aid purposes; to see your school's, you can check your school's website or ask someone at the financial aid office.
However, for
financial aid purposes, when a child owns a 529 plan, it is counted as the parents» assets, not the student's.
The key issue for
financial aid purposes is that when a child becomes a ward of the court, no parent or other person is financially responsible for the child.
Since the 1995 - 96 academic year, a person who was discharged other than dishonorably from one of the military service academies (the U.S. Military Academy at West Point, the Naval Academy at Annapolis, the Air Force Academy at Colorado Springs or the Coast Guard Academy at New London) is considered a veteran for
financial aid purposes.
Custodial account assets are generally considered to be the child's asset for
financial aid purposes, which may decrease college financial aid more than assets belonging to parents
If the 529 account is owned by someone else (such as a grandparent), it doesn't count as an asset for federal
financial aid purposes.
A diploma is not an eligible degree program for
financial aid purposes.
For college -
financial aid purposes, the plans are typically considered a parental asset, which means their impact on aid eligibility is far less than if they were deemed the student's asset.
For
financial aid purposes, custodial accounts are considered assets of the student.
Student Financial Aid Fee — This fee is charged for
Financial Aid purposes.
For example, if you have $ 100,000 in your 529 savings plan, only $ 5,640 will be considered for
financial aid purposes.