I'm 21 and last year my parents claimed my so when I filled out my FASFA I used all of their tax stuff and was able to get grants and such. This year obama passed a thing saying college students get a $2500 tax credit. On taxcaster it said if I claim my self I'll get back over $1000 but if my parents claim me then I'll only get back $300 or so. My question is if I claim my self will I still get the grants or do I risk loosing them? I made less then $15,000 on my w2 (I work for cash alot and we don't claim it through work) I would think they would still give me grants because thats concidered low income. Also if they do claim me how would I myself go about getting the $2500 tax credit?

 

I'd recommend going to your financial aid office and speaking to someone there. Take your tax docs (and your parents'), and they can probably help you decide which option is best for you. They'd be more experienced and knowledgeable about the matter than probably anyone here will be.