Know The Law: New Policies Affecting College Students

College students are often the first group affected by new laws and mandates that pass through government organizations. As such, it is important that every college student know a thing or two about laws and mandates that affect them directly as college students. Having a basic, working knowledge of these laws can make all the difference when it comes to financial aid, tax refunds, grants and scholarships, and more.

Grants and Scholarships

Grants are a huge part of any college student’s experience. They often mean the difference between getting into the school of choice, and settling for the school they can afford. Grants and scholarships are a tricky road to navigate and careful consideration is needed.

Each year when students file their taxes, it is essential that scholarships and grants be listed on their forms are a form of income. This law prevents students from getting grants and scholarships tax-free. Also, most grants that are funded through the state or federal governments are first come first serve which means that students should file for financial aid as soon as they have their information to assure that they get some form of grant.

FAFSA (Financial Aid Federal Student Application)

Most scholarships and grants that are afforded to students through the university will only pay out if the student has applied for federal financial aid. Federal financial aid takes form in the FAFSA. There are a few different restrictions that are important to consider when filing the FAFSA such as filing status, what financial information is needed, and who can file independently.

Even if a student is no longer living with their parents and pays their own way, it is not legal for them to claim independent status on the FAFSA, this means that their parents will have to supply tax forms for the completion of the FAFSA for that student. The only students that can file independent status on the FAFSA are those that have been legally emancipated, those over the age of 25, and those that are married or have a child. The government is in the process of lowering the age for independent status on the FAFSA.

Rental Laws

In some cases it is not financial aid that is really the biggest issue but rather the renting laws that many students face. In many instances, an individual cannot rent a car unless they are over the age of 25 so those students without a car cannot rent one for any duration of time. Also, renters of apartments and rooms are allowed to discriminate to a certain degree, if they allow college students to rent from them they cannot turn away one individual for a specific reason but they can by law exclude all persons under a certain age so long as all persons of that age are excluded. Also, some colleges require that students live in dorms on campus for a period of time before they can commute, which may be very pricey.

Taxes

Students that are filing taxes independently or that have parents claiming them as dependents now have tax credits that can help garner a bigger refund and get back part of their tuition and expenses. The HOPE or Lifetime Learning credit was introduced during the Bush era and has been extended through the remainder of the Obama administration and allows students and parents of students to claim their tuition on their taxes as a deduction. The HOPE credit allows for a reimbursement of a percentage of the tuition and expenses and the Lifetime Learning Credit is counted as a tax deduction. Any of these laws can make a huge difference in the life of a college student and should be learned to insure that every student gets what they deserve.

Author Bio
Ryan Ayers is a writer who produces informative articles related to education. In this article, he explains new policies affecting students and aims to encourage further study with a Online Masters Public Policy.