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Sun 26 Feb, 2012 08:43 pm
My boyfriend and I are considering getting married at a local courthouse soon. We have been looking into this for some time, but thought it might be a good idea to ask around and see if we might have overlooked something.
We are both undergraduates in university. He is an independent student, and so his aid is based off of his own income. He gets more than enough aid to pay for school. I am still dependent, my aid based off my parent's income (Though I do not live with them and they do not support me financially, or help with college expenses), and it is barely enough to cover the cost of school. The Financial Aid office says that if we get married our aid will be based off of each other's income, which would be good since we both have very little income. In this case my aid would become about as high as his. I would like to know if there are any other factors that might create a problem financial aid-wise?
My parents still claim me on their taxes since I am a student and under 25. I know they wouldn't normally be able to claim me once I'm married, but I was wondering if there might be an exception since I am a full time student?
Also, can they even claim me if they do not support me in any way? I only spend a short time in their home during holidays. I do not rent from them, they do not pay any bills for me, and I do not receive expensive gifts from them.
I am also still on their insurance plan. I think I can stay on their plan until I am 26, though I wanted to make sure there weren't any exceptions I might fall into. If I were to be dropped from this plan, however, it would not necessarily be a deal-breaker, as our school offers insurance.
I know we will have to deal with each other's student loan debt, but are there any other significant legal or monetary things that we should be considering?
@Sparrowfield,
Your parents can claim you as a dependent if they provided more than half your support for 2011....regardless of whether you are married or not. You say you are a student...who pays for your room and board?
@Sparrowfield,
Finance may be an important factor in a marriage, but not as important as the fact the people change over time and "success" involves accommodation to such change.
You better check out that insurance coverage if you should marry.
That doesn't sound right. (that you would be covered if you stop being a dependent)
t
@Sparrowfield,
Thinking about getting married, wondering if there is anything we're not aware of?
were you aware that many people refer to marriage as an institution, now, my father spent some time in an institution, most of the people there were crazy (i'll reserve judgement on my father as he's family), given this information, why would anyone voluntarily enter an institution
@Eva,
As I said, I pay all of my own expenses, including tuition, room and board, fees, and everything else I need, college related and otherwise. My parents do not give me any financial support whatsoever.