In theory (and usually in practice), if a student is independent (e.g. a youth in foster care or in legal guardianship), or if a student is a dependent but her/his family has low income, that student should receive enough financial assistance (“need-based financial aid”)* to make college enrollment a viable option.  What is most important is that from an early age, our children understand that college is an option for them if they work hard and make success in school their priority.

*Need-based financial aid is usually a combination of federal, state, and institutional monies that are packaged to meet the need of the student.  All colleges attempt to meet a student’s financial need, based on the difference between the “Cost of Attendance “(COA) and the “Expected Family/Financial Contribution” (EFC). Most students are considered “dependent” (including those in informal kinship care) and their parents have to disclose their income and assets to determine the EFC. When students are “independent,” they do not have to disclose their parents’ income and assets. Instead, the EFC is calculated based upon the students’ income and assets.  Youth in legal guardianship are considered independent for the purposes of applying for financial aid in college, just as youth in foster care are. They are a “family” size of one, unless they have a child of their own.

If a student is not in legal guardianship and lives informally with a caregiver, but does not have contact with a parent and/or does not receive any financial support from a parent; then that student may apply for a “dependency override” at her/his college of attendance through the Financial Aid Office. Supporting documents are usually required by the college, and the caregiver may be asked to verify the student’s status. In this exceptional case, the college may grant the override and consider the student to be “independent.”

*Need-based aid is a combination of “gift” money (e.g. grants) and “pay-back” money (e.g. loans and “work-study”). Merit-based aid is awarded based on a student’s achievement: often academic (e.g. UC Trustee Scholarship, National Merit Award, etc.), and/or sometimes based on talent (e.g. athletic, music, etc.). Some financial aid is restricted to particular categories (e.g. children of firefighters) and may combine need and achievement as criteria. Students may be eligible for all forms of aid. For consideration, all students (and their parents if they are not independent) must file the FAFSA to begin application process. See our page titled “$$$ Money for College for Foster Youth” for more information about the FAFSA.

Show me the money! Financial Aid makes college possible

What’s Available for our Children?

Read the column at the left for information about financial assistance for youth in legal guardianship and for youth living informally with caregivers (relative and non-relative).