1. Federal law suspends your eligibility for federal student aid, if you have been convicted for the possession or sale of illegal drugs for an offense that occurred during a period of enrollment for which you were receiving federal student aid (grants, loans, and/or work-study).
2. Even if you are 23 years old, living on your own, paying your own way…the Gov’t still views you as a dependent student…meaning they still use your parents’ income to determine your specific “financial need”…(my advice: just wait a year until you are 24 and considered an adult in the eye of the Feds)
3. Legal Emancipation from your parents does NOT qualify you as an independent student.
4. If you transfer schools, you MUST update your FAFSA online. You will not be able to receive loans at your new school unless you do this.
5. FAFSA is not a loan!!!! It is a government form that determines your eligibility for all types of aid, including loans.

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