Will the K1 affect my future ability to get Pell Grants?

[BigCityDave 0]

Hi,

This is just a question that popped in my mind. I am a college student so Financial aid is going to be made while going through this process, especially when I do get married.

Any thoughts or input would be helpful.

Thanks.

[mox 298]

Hi,

This is just a question that popped in my mind. I am a college student so Financial aid is going to be made while going through this process, especially when I do get married.

Any thoughts or input would be helpful.

Thanks.

There's no reason the K-1 should affect your financial aid. However, once you are able to list her as a dependent on your taxes, it will probably have some effect. You should talk to a student financial counselor on the effects of having a spouse on your pell grant. But the mere act of filing and receiving a K-1 will not affect it.

[BigCityDave 0]

Hi,

This is just a question that popped in my mind. I am a college student so Financial aid is going to be made while going through this process, especially when I do get married.

Any thoughts or input would be helpful.

Thanks.

There's no reason the K-1 should affect your financial aid. However, once you are able to list her as a dependent on your taxes, it will probably have some effect. You should talk to a student financial counselor on the effects of having a spouse on your pell grant. But the mere act of filing and receiving a K-1 will not affect it.

From what I thought you are more likely to get a Pell Grant will married because you are no longer dependent on yoru parents. I was just concerned because I would have to declare my dependent as a foreign or international right?

[Zee Bee 61]

If I am not mistaken Pell Grants are awarded based on need.

So if you need it you should be able to get it. Getting married may vary how much you get but not whether you get it or not.

Here are the criteria:

"Grant amounts are dependent on: the student’s expected family contribution (EFC) (see below); the cost of attendance (as determined by the institution); the student’s enrollment status (full time or part time); and whether the student attends for a full academic year or less."

"The EFC is the sum of: (1) a percentage of net income (remaining income after subtracting allowances for basic living expenses and taxes) and (2) a percentage of net assets (assets remaining after subtracting an asset protection allowance). Different assessment rates and allowances are used for dependent students, independent students without dependents, and independent students with dependents."

So it looks like you should be fine.

[Zee Bee 61]

Hi,

This is just a question that popped in my mind. I am a college student so Financial aid is going to be made while going through this process, especially when I do get married.

Any thoughts or input would be helpful.

Thanks.

There's no reason the K-1 should affect your financial aid. However, once you are able to list her as a dependent on your taxes, it will probably have some effect. You should talk to a student financial counselor on the effects of having a spouse on your pell grant. But the mere act of filing and receiving a K-1 will not affect it.

From what I thought you are more likely to get a Pell Grant will married because you are no longer dependent on yoru parents. I was just concerned because I would have to declare my dependent as a foreign or international right?

Yes, once you get married you will be declared an independent student and your wife will be your dependent (as long as you provide half of her support).

[BigCityDave 0]

Thanks for the help, just trying to plan out how we are going to make this work financially.

[TinTin and Samby 11]

If your fiance plans to work, You may want to investigate if her income will be included in your Pell Grant "Need" calculation. Like all NEED BASED grants, the more you (your family) make, the LESS NEED you are determined to have.