*Loan,banking and credit>>>college loan

I recieved a lot of grants and federal loan for college and my parents file me as their dependent?

When my parents file there tax returns they wuold have to also tell the accountant about the federal loan and grants that i got how would this change the amount of tax return they get back.... my EFC was $1700 out of which my family has already given me $1200 this also includes the registration fee

federal loan has no effect on your parents taxes. What will affect it would be the grant. What your parents accountant will do will compare the tuition cost to the grant amount. If the tuition cost is more than the grant than you will have education expenses which your parents could potentially deduct (depending on income leve) on their tax return as Hope Credit (first two years of college for you) or Tuition and Fees Deduction, or if you're beyond first two years of college it would be Lifetime Learning Credit instead of Hope Credit.

$1,000 per child tax credit ends the year the child turns 17.

Loans are not counted as income, and I belive that grants don't as well. When your parents claim you on there taxes they still recieve the $1000 per child tax credit and you are still covered under their insurance.

After age 25 they are not allowed to claim you or if you leave college.
many factors play a roll in how much of a return your parents would get back such as there salary, the amount of the grants and loans and the types of grants and loans. you may want to ask an accountant or call your local irs to see if they could help you
If you are under age 24 and a full-time student, you can still be a dependent of your parents as long as you do not support yourself.

Loans that you take out in your own name count as support you provide for yourself. Grants and scholarships do not count as support.

If you are borrowing more money than your parents pay out for your support, then your parents cannot claim you on their taxes. So the accountant needs to know how much you borrowed, and how much you earned.