References should be people close to your own age whom you spend your free time. If you are 17 or 18, then 16 years and up is appropriate. If you are in your 30s and all your references are 16 to 18, then we will spend more time asking why this is so.
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The important fact to remember is we want the peers that know you well. The example I give groups about the references section when explaining how to fill out the form is that we don't want to know who you would call for bail money when you find yourself in jail, we want to know who the three friends that in the same jail cell with you.