What is the difference between an independent and a dependent student?
Dependent Student
If you're 23 or younger, you're typically considered a dependent student. This means you must report both your own and your parents' income and asset information when applying for financial aid.
Independent Student
If you're 24 or older by December 31 of the award year, you're considered an independent student. You only need to report your own income and assets (and your spouse's, if married).
For more details, visit the U.S. Department of Education's Dependency Status page.