February 27, 2007

Our family makes too much money to qualify for financial aid…

Posted in FAFSA, The Financial Aid Process at 9:01 AM by Joe From Boston


Here is a great article from the Orange County Register about whether you should fill out financial aid forms if you think you make too much money.

Apply for aid, even if you think you make too much

Columnist

Q. Our family makes too much money to qualify for financial aid. Do we need to fill out any financial aid forms?

A. Every family should complete (minimally) the FAFSA (Free Application for Federal Student Aid) form in January of the student’s high school senior year. Regardless of family income and assets, there are federal entitlement programs for every student, the most common being the Stafford loan.

Additionally, many colleges require the FAFSA form in order for the student to qualify for merit awards and scholarships. These can be offered as a result of academic, athletic, artistic or even leadership excellence.

Along with the FAFSA form, some colleges require the CSS/PROFILE form, and many private schools require their own aid forms.

By the way, many families assume they make too much money to qualify for financial aid, but there are many factors that determine eligibility. The way to accurately determine your eligibility is to learn your EFC (Expected Family Contribution).You should do this when your student is a high school sophomore or, at the latest, a junior.

Q. I am a divorced mother and my daughter is a junior in high school. She has a 3.86 GPA and 1900 SAT score, and she wants to attend a private college. My annual income is $50,000. I don’t own a home and we have little savings. Do we have any alternative other than junior college and then a state school?

A. Your daughter definitely should apply to private schools. For families like yours it often costs less money out of pocket to attend a very expensive ($40,000 to $50,000) private university than a public school costing much less.

Schools such as Pepperdine and Chapman typically offer families like yours a large amount of financial aid with most of it being grants (free money), often called gift aid. When you submit the FAFSA form to the Department of Education, officials calculate your Expected Family Contribution. This EFC is subtracted from the college’s cost of attendance and the difference is your “need.”

Many private colleges will meet most, if not every penny, of your need. If your annual income is about $50,000, your EFC could be less than $5,000. This means that for a $45,000 school, you are eligible for $40,000 of financial aid with the vast majority of this being offered in grants with a small portion being deferred-payment student loans and perhaps a work-study program.

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  32. Abraham Godinez said,

    i have a question if both of my parents make about 79,000 a year can i still get financial aid?

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  41. Steve said,

    Last year taxes was about 35k with a family of 5 and G.P.A is 3.5 with SAT of 1400. what are the odds?

  42. jandm said,

    Family of 5, income of $43,000. $29,000 of it in unemployment benefits. What do you think our EFC would be? I think the University of WA fees are $40,000.

    • Anna said,

      very low efc. My mother makes 55,000 and its a family of 3 and my efc is only about 5,500.

  43. Marie said,

    My daughter is a freshman in high school and I am wanting to get married to my live in boyfriend of 3 yrs. Problem is we do not nor will we share finaces due to him having to support his young 3 children. Basically after hes done paying for them and his half of our bills he has little to live on so there will be no finacial help from him or her father. I currently take home 42K a year, My question is; if we get married will this ruin her chances of more funding (aid, scolorships) since I will no longer be a single mother? Not sure what to do..please help!

    • edvisors said,

      You should never base these important life decisions on financial aid eligibility. However, it is a good idea to consider and plan for the effects. Financial aid is determined by the income and assets of the parents and the students – so the more you have, the less aid you might get. So, if you future husband is not making much money and has few assets – He likely will have little impact on financial aid.

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  45. zahid said,

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  46. Paul Constantinescu said,

    My father took out $49k from his 401k to pay off debts, and in the end my parents still ended up filing for bankruptcy. My dad made $40k-ish before taxes and my mom made $7k from unemployment. The income came out to about $98 grand which made my expected contribution go very high. I got $900 dollars in fafsa because of this.

    Last year my parents income was higher and I received $5,500 in fafsa money. This year purely because he took out 401k to pay debts, I get less money. I didn’t buy any books at all this semester because total was about $300 for 3 out of 4 of my classes because of all the new online crap and purchasing access, myaccountinglab, myitlab, etc.

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  48. Andrea said,

    I am 31 yrs old. I am graduating from college this semester. I paid all of my previous classes and I would like to continue my education and obtain a teaching degree. At the moment I have two children and it is becoming harder for me to aford my schooling. I was wondering if I can apply for financial aid if my husband and I make 70000 a year?

  49. Eunice said,

    I am 20 years old. Living with my fiance. My father has an annual income of 79,000 but he’s separated from my mom. I was able to apply for financial aid and receive it for a semester, now they are asking for an additional form from a pastor and a judge stating why and how they got separated, the problem is we have many family problems and my father wants nothing to do with me so he wont help me with my school payments or help me with providing the information the school needs. What can i do?

  50. High School Senior said,

    My mom made $60,000 last year and made $50,000 this year. My dad has been retired for over 20 years (He is 75 years old), but only receives less than $300/month from his retirement money. And I’m a soon-to-be high school senior and I’m worried that I won’t get much financial aid. How much financial aid do you think I will receive under these circumstances?

  51. Husband Grosses Too Much $ said,

    I am supposed to receive my master’s in the fall 2011. I’ve been in school full time since 2009. I have received finacial aid the whole time.

    I didnt work much during school because I living with my then boyfriend/fiance. In August 2010 we got married. In Sept 2011 I got a job making $59k. In 2010 only made about $26k.

    Here’s the kicker… My husband is a Dr. He makes about $300k but doesnt keep anywhere near that. Between expenses for his practice, bills, student loan debt, child support, lots of it is taken.

    Paying for school outta pocket this last semester will be impossible. I’m afraid I wont get aid because my husband grosses so much. But again, he doesnt take all that home.

    Silly me applied for aid very late (august 2011). I totally forgot I was going to have to report his income. I’m afraid I’ll have to sit out until we can save the money for me to complete my last semester :((

  52. Worried Girl! said,

    I am a junior in high school and I am starting to worry about my college getting paid for. I live in a house with 4 other people. My dad is the only one of my parents that works & he makes approx. 30,000 a year. Do you think I will get some financial aid? I am so worried that I wont get to go to college!

  53. erick Santos said,

    what if i made 27,445 last year would i still qualify for financial aid?

    • plusloans said,

      It depends on a number of factors. You need to complete the FAFSA form and apply for aid at your college. They will give you an outline of what they feel you qualify for. You can then negotiate with the school for more financial aid. You can also consider applying for student loans.

  54. lori said,

    will my husband having a bachlors degree affect my kids from getting finacial aid, scholarships, and pell grants

  55. karobis said,

    I have 4 childern. I had the first 3 students got an unsubsidized stafford loan. The last student is currently at a Community College for the first 2 years. We completed the FAFSA and didn’t qualify for subsidized because we make too much money EFIC. However, I fully expected for him to qualify for unsubsidized. He originally was told he qualified for it and needed to do the financial counseling and sign promisory note which he did. Then we got a bill from the school saying we were past due and needed to pay ASAP. When I called they said he didn’t qualify for even the unsubsidize staffor because I make too much money. I thought the unsubsidized stafford was not based on need? Can they do this? He’s actually going to be resposible for paying his college but because he’s under 24 they go by my income.

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  58. Jimmy said,

    Hello, my name is Jimmy. My situation is that I can to the United States with my oldest sister when I was 15 years old. We move here alone to live with a friend of my parents. Both of my parents live back in Haiti. I am 22 years old right now trying to finish my degree, but can’t fully afford paying for school because they want my father income and he doesn’t live here. It’s there anything I can do to get Financial Aid. Thanks for your time…

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  61. […] Our Family Makes Too Much Money for Financial Aid If you feel your income is “too much”that you shouldn’t bother with financial aid, think […]

  62. […] Our Family Makes Too Much Money for Financial Aid If you feel your income is “too much” that you shouldn’t bother with financial aid, think […]

  63. unknown said,

    i make 43,000 per year for a family of 4, is my daughter eligible for the financial aid.

  64. Janice said,

    We too were told we make too much money and got $0 on Financial Aid so we will have to go with Unsub and Plus loans. At some point is going to be hard to keep up the payments if we have to start paying right away. I find it interesting that this people do not ask you for your expenses before approving a loan. They assume you can pay if your credit is ok.
    Is it difficult to defer the payments until graduation? I read that you have to have a change in your finances,etc.
    Also, can the student take over the payments or does the loan remain on our name forever? The agreement was for my son to pay his loans once he starts working. Im concerned because I have another child going to college in 3-4 years and I dont want these loans to affect our ability to get loans for her.
    I agree we all should be writing our senators to change the system. The middle class is getting squeezed while the low income people are getting everything free. If you make too much money, well..you already can afford to pay.

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  67. lynn said,

    Question:
    Auburn, WA. I’m a single mom. My daughter is a senior this year, she’s also doing running start at Green River C.C. She has a 3.7 GPA. She will be graduating this year with High School diploma and AA degree. She has applied to the private colleges such as Pepperdine, Northwest University, George Fox; and other state university such UW and Western Washington Universiy. ttend a private college. She really wants to go to Pepperdine.
    My annual income is $61,000. I don’t own a home and we have little savings. I have a bad credit. My daughter also has applied the Gates Milleninum scholarship in January.
    Today, We applied FAFSA application today, the EFC is 9317. My daughter was very much disappointed when she knew that I made too much money, that she may not be able to qualify for scholarship. I just really hope the private university will assist the financial needs. Can she quailify for Federal loan based on my income?
    thanks.

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  68. liz said,

    Hi,
    I have a question on how much is too much money to have on hand. I’ll be 24 this year and i’ve been saving to go back to school for 3 years now. I have 11,000 saved but only made 10, 500 this year. I tried the link fafsa4caster but it didn’t mention anything about money on hand. Will i be be eligible for aid?

    • Mr BILL Johnson said,

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  69. James said,

    Well here is a good one. I make approximately 89,500 a year…..have three dependants, wife does not work. When I went back to college to finish up my BS in Criminal Justice I filled out the FAFSA and received 14,400 in financial aid. As soon as I graduated I immediately paid off my student loans with my first payment. Now my daughter is attending college and in her second semester. We both sat down and filled out the FAFSA together and when it came back they denied her stating I made too much money? How on earth can they justify providing me with financial aid and refuse my daughter? I mean seriously it just doesn’t make sense to me how the federal government can foot 14,500 of my education but will not provide my daughter money to help her further her education. I honestly have done my best to foot the bill for the first year…..but there is no more money available.

    • Mr BILL Johnson said,

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  70. Anna Gonzales said,

    Hi,
    I am 24 yr old mother of 3 children, me and my husband been separated for about 8 months now, but were legally married still. I want to go to college but i am currently unemployed and receiving unemployment benefits wich is not much is around 217 wk. What kind of help or financial assistant will i qualify? They told me to fill out the FASFA but on my 2009 W2 me and my husband filed together so our income was combined and i was working, as i got laid off after i filed my taxes. Our annual income for 2009 w2 was @41,000 but it was for family of 5. So i dont make that income now, so how would i qualify for any assistance to go to college? what would they go by? what would be my EFC? by the way im not a us citizen but im a permanent resident.

    • Anna,

      Ask your financial aid counselor to review your case again and bring documentation of everything you’ve told me. You will likely see a difference if the school has any money left to award.

  71. Kent Ryder said,

    Hi,
    I am a father of six children and I want to go to nursing school in the past i have applied for fasfa and was denied because we made too much money this year we are sending our oldest child to nursing school at the same time i am trying again to go to school will these turn of events help me or is there any kind of loans for parents available?
    Thanks,
    Kent

    • Kent, when you fill out the FAFSA you will be able to list your child in the Student Finances section, but your child will not be able to list you. It’s weird, I know.

      You’ll have to call the school and provide them with documentation that you, too, are in school.

  72. MichelleRostas said,

    Hey, i have some questions. I have the state scholarship, which covers all of my tuition, which is quite nice. Unfortunately i don’t have enough to live on campus, textbooks will be hard to acquire, class fee’s are scary, you get it. My parents made about 350k+ in 08. My dad Recently has lost his job, and we now only get about 50-60k between the both of them. I was wondering if there is anything out there. I am also NOT an American citizen, i heard there were special grants floating around for non citizens. Any help is much appreciated.

    • Hi Michelle,

      There are a few things you can do.

      1) Ask your financial aid officer for an appeal as you r financial situation has changed. Your families’ income has dropped dramatically, so you may now qualify for federal loans or work-study programs.

      2) get prepared for next year. Start applying for scholarships now!

      3)Look for alternate sources for supplies. For example, your textbooks might cost a LOT less at Amazon.com or BarnesAndNoble.com than they would at your school’s bookstore.

      4) If your visa allows (and many do not) you could look for a part-time job.

      5) If you go home next summer, get a job back home to help pay next year’s bills

      6) Have you looked into living off-campus? It might be chaper

      I don’t know about special grants for non-citizens, but I would suggest you google related terms. Search engines will be your best friends for this. Good luck!

      • MichelleRostas said,

        Thanks for the suggestions, i will most likely end up living off campus since it is quite pricey to live on campus. I have an appointment at the federal aid office on monday, so i can get my FAFSA appealed, since they ask for your 08 info, im obviously not eligible for anything. Hopefully the 300k drop in family income will spark someones interest lol. As far as textbooks go, there is a photography competition at school, luckily im minoring in photography so im going to enter. The winner gets a whole YEARS worth of textbooks. That is ALOT of savings especially since i will be taking 15-18 credit hours a semester.

  73. Kevin said,

    Monique,

    My ex-wife and I are divorced and our daughter will be attending college this fall. My ex-wife filed all fafsa forms with the joint financial information of her and her current husband. None of my information was included as am not the custodial parent. Although I am responsible for 50% of her college expense. Can I apply for a Parents plus loan?

    • Hi Kevin,

      Yes, the non-custodial parent can get a PLUS Loan even if they were not the parent to fill out the FAFSA. A word of warning – some schools may also require you to fill out a PLUS Loan addendum form in order to do so. It varies by school.

  74. Donald said,

    I would like to ask at moniqueleonard a question!
    Here is my situation.
    How much I should not be making per year in order to be eligible for financial aid?
    I work and I study at the same time !
    I have had many opportunities to make $30,000 per year but I am worry if I got such money I will not be any more eligible for financial aid!
    Would you really help me to get any answer or URL where i can get more information about it!
    Thank you !

    • Donald,

      The government takes into account more than just income when determining financial aid. And if you are an independent student (over 24, married, homeless, pursuing a graduate degree or in the military) then you will be awarded more than a dependent student.

      You should visit the US Government’s helpful website Fafsa4Caster which will give you an estimate of what you will actually qualify for.

      • Donald said,

        Thank you for answering me so quickly!
        I am a little confused because the link you have posted “the Fasfa4caster” , I just tried few minutes ago with different amounts meaning for example like getting either 20k or 40k I still getting financial aid !
        So here is the thing !
        I am independent student who is over 24, single, no kids, never been in the army and my average adjusted gross income is from24k up to 44k because it really depends -I am a waiter !
        I have tried the website but i have seen I still be eligible for me to get financial aid which for me is really hard to believe! Please be understandable because I have been refusing decent jobs where I can work less and get 40k per year easily!
        Seriously I thank you very much for your response and your concerns about my request !
        Definitely I really admire your advices to all of us regarding to our matters and concerns about financial aid which is a complicated process trough which you can be lucky to be sponsored for your education!

  75. Amy said,

    Hi,

    I just graduated with my bachelor’s from a 4 year school and I am heading off to grad school. Unfortunately, before I can fully enter the grad program I need to do make up/leveling course work. The school I am at deems that because I am post-bac and not technically in the grad program, I am not eligible for financial aid. So, I’ve been looking at banks for private student loans, but I am a little confused about applying and no one can seem to clear up my question- what type of loan do I qualify for? Do I qualify as an undergraduate or graduate, although I am technically neither? Could you recommend a place to get these loans during this tough economic time?

    Thanks!
    Amy

    • Amy – the bank you borrow from will have to determine what your status is. You may even be considered “continuing education” simply because you’re taking extra classes that aren’t part of a degree program.

      Continuing Ed loans are unfortunately a little harder to get these days. You will likely need a co-signer in order to get the loan. You can learn a little more about private loans at http://www.privatestudentloans.com

  76. Lois said,

    Question: My daughter is attending college in the fall, her father and I are divorced and I am remarried. I have full custody of both of my children. My husband and I make too much money to get financial aid, however we do qualify for an unsubsidized loan but nothing else. My exhusbands income is much lower than mine and he has two other children. My income is about 110K his is about 45K. Is there a way that we can have him fill out the fafsa information so that she can get financial aid? My current husband and I filled out the fafsa this year and our expected efc is 26K.
    Thanks,
    Lois

    • Sorry Lois, but the person who has sole custody and finances more than 50% of the child’s basic needs has to fill out the FAFSA.

      I should also warn you that lying on purpose on the FAFSA is considered a felony.

      • Lois said,

        I have no intentions of lying. Like I said, we already filled out our fafsa forms with our information on it. I was just wandering if there was any way that we could legally use his information instead of ours for the future.

        Thanks,
        Lois

      • Good luck, Lois. I had to warn you – not everyone has scruples these days.

  77. TD said,

    “Chelsea said,

    September 5, 2008 at 11:20 pm

    okay my parents make a little too much for me to get a lot of aid, but they have no money.

    Reply to Chelsea:

    Have you considered going to a cheaper college? Try out Sinclair community college (a 2yr associate college; one of the cheapest around with tuition at only $45 for montgomery, oh, residents 1yr+ residence, or I think $75 for out of state) located in down-town dayton, ohio. You don’t have to move either because they offer a series of classes and even full degree programs online…

    …good luck.

  78. Jennifer – fist let me clear something up – grad students DO NOT need their parents info on the FAFSA, so don’t panic about grad school.

    Now, you may be in luck for a little more aid. If your parent’s credit is as bad as it sounds, then they will get rejected for a PLUS loan. If they are rejected, then you can hand that rejected letter to your school and you’ll qualify for more Stafford money. It’s not much but every bit helps, eh?

    Also, I would apply for an appeal with your school’s financial aid office. If you have proof of your parent’s debt, they may give you more aid. This year will be very competitive for financial aid, though, given the amount of people unemployed in this recession.

    Good luck!

  79. Jennifer said,

    Hi. I’m a Junior at a state university, and for the past two years I’ve been trying to get loans to support myself more easily. I am independent and work/live on my own. My parents make $130,000 together but have had two bankruptcies in the past ten years (so they have horrible credit), and they are also heavily in debt. I have great credit, but am only 20 and haven’t had credit long enough to qualify for a loan on my own (without a cosigner). My EFC for this next school year is $35,000 but since my parents are in debt they have NO MONEY to spare! They also have a total of six children.

    My problem is that I don’t qualify for grants or loans based on need (because of course my parents’ salaries are taken into account, although they don’t support me at all). I don’t qualify for an unsubsidized or private loan based on lack of credit and lack of a qualifying cosigner.

    I have one year left as an undergraduate and am trying to make it through myself by working a lot, but it is killing me. When I go to grad school, until I’m 24 the cycle will just continue! I worry that I won’t be able to afford grad school at all.

    I do have scholarships but they definitely aren’t enough to cover my basic living expenses and things like books and supplies. I’ve applied for countless scholarships over the years and never gotten a thing, although I have great grades. I just don’t know that hoping for another scholarship is realistic at this point, as I’ve already wasted countless hours trying.

    Do I have any options for loans that aren’t based on need (as determined by the FASFA) OR credit?

  80. Becky said,

    My daughter is a freshman at a private college. She qualified for 10,000 scholarship per semester, was approved for a loan and also got a pell grant.
    Our combined salary for 2009 was 25,000 with her father being unemployed.
    Can you say how much is the maximum income one can get to qualify for the pell grant and also can you say what would change if the parents are d
    divorced with the mother’s salary being 25.000+
    She would be living with her mother.

    • Hi Becky,
      The Pell grant is not solely determined by your or your husbands salaries. The student must demonstrate financial need by meeting the Federal Pell Grant eligibility criteria (Expected Family Contribution of $4,010 or less). The EFC takes into account more than just salaries – it takes into account bank accounts, 2nd houses, stocks, brokerage accounts, etc, but not retirement funds or the value of your primary residence.

      The US department of education has a tool to help you estimate – the FAFSA4Caster – which may help you.

  81. Joseph –
    I’ve been trying to find an answer for you. You were either over-paid or your need was over-estimated. Either way, you may be asked to pay the money back, and if you were overpaid I believe you will be required to do so.

    Having said that, Pell grant funds can be used for “education related expenses”.

    I’ve had a little difficulty determining exactly what that means, as no one seems to have a set definition. Tuition and fees are definitely included. I suspect books are too, as would mandatory lab supplies, etc. Not so sure about room and board expenses or things like a computer – that’s where the details get fuzzy.

  82. Joseph said,

    I was a 20 year old freshman and now I am a 24 year old senior. I only filled out FAFSA recently for this year because my grandmother payed for my semester last year. God bless her. Now that I did receive fafsa I got money for this semester and last semester. So I got a check and after I pay for this semester I will still have a good amount of money left. This money is not loans, it is a pell grant and from my school. The extra money will definitely help with books and rent and everything. I understand that since I am 24 and I don’t work enough to pay for everything that my EFC is 0. My question is if I keep that money for expenses is that fraud, or will I have to pay it back at some point?

  83. Tipperairy said,

    Sorry… follow up. I guess it is no longer possible even with Direct Student Loans. “Students can no longer consolidate while they are still in school. (The early repayment status loophole and the ability of Direct Loan borrowers to consolidate during the in-school period was repealed as part of the Higher Education Reconciliation Act of 2005, effective July 1, 2006.)”

  84. Tipperairy said,

    Hi. My son is going off to college Fall ’09 so I’m doing a little research myself.

    I read most all the information here but I also wanted to address one thing you told someone, “It is illegal to consolidate while still in school, meaning he can’t consolidate loans for the degree he is currently working towards.” That statement is not exactly true. We ran into this issue with NelNet during consolidating my husband’s loan. He was still in school but NelNet in my opinion has predatory business practices and were a hassle to deal with in general so we wanted to get him away from NelNet. He also had a “Direct Loan” – i.e. Direct Student Loans, not through a regular bank and it IS allowable to consolidate while in school but only with the gov. DIRECT student loan program. We know this because the paperwork for the consolidation was completed (while in school) and Direct Loans sent out a consolidation check to NelNet. NelNet refused to honor it causing a delay (thus ‘late’ payments on credit report, when there should not be). During this process we were on the phone a lot and YES if you are fortunate enough to have a Direct Student Loan you can consolidate while in school. Also, Direct Student Loan is great to deal with, we are so glad that we got out of the hooks of NelNet service provider!

  85. Susan –
    The best thing you could do is visit the FAFSA 4 Caster courtesy of the federal department of education. It will give you an estimate of what you will qualify for. You can’t judge just based on income as a lot of other variables are involved, such as property ownership and your own savings.

  86. susan said,

    My father makes 150,000 a year and my mother does not work, would i qualify?

  87. Hi Dana,

    You did the right thing by contacting your school immediately. I can’t give you exact numbers, but as a single parent with 2 dependents and little to no income, you stand a good chance of getting a lot of aid.

    Here is a tool from teh Department of Education, the Fafsa4Caster – http://www.fsa.ed.gov/fafsa4caster.html. It may give you a better idea of what to expect.

    I wish you the best of luck, and good for you for going back to school! :)

  88. Dana said,

    I am a stay at home mom of 2 small children. My husband left me recently, after I filled out my very first FAFSA. I already contacted the school and they are going to changed my information, but I am just curious about how much aid would be a available for a 36yr old with no income and 2 dependants.
    Thank you for your help.

  89. Vanessa said,

    shanda,
    I am also 35, have three children, and my husband and I both work. I only work part time and we bring home a little more than your husband but, not much. I qualify for pell, and loans. You can too. Keep in mind that you should attend a community college first as it is less expensive. Someone there can help you find the correct path (educational) for what you plan to “Be”.

    I now attend a University that is privatized. I like it better than our state universities only because they cater to the adult population. Good luck. Fill out the fafsa just after you do your taxes in Feb. and you will have an answer for next fall. Good luck and keep perservering.

  90. Bianca said,

    Thanks a lot for your help

  91. Hi Bianca,

    You might qualify for aid. Read these two articles, they should help clarify things a lot better than I could ever do in a comment:

    Divorce and the FAFSA from Kiplinger’s

    Dependant Student help for FAFSA questions

  92. Bianca said,

    I got married 2 years ago I just make 25 thousand per year but my new husband makes more than 150 thousand per year. I have two kids which I just get 80 dollars per week for child support. My first husband maybe makes 30 thousand. My son now is in high school he wants to go Jhon Jay college. Do you think I will qualify for financial aid or the income of my new husband will affect. He is not the father, Im supporting then but could you help me please because I know I have to show my taxes and with his income I think I’m done. My son is very sad about that

  93. Hi Shanda,

    Given that you are not a traditional-aged student, you do have a slight disadvantage. You will still qualify for Stafford Loans, but they won’t be enough to cover tuition at a private college. Since money is a worry for you, have you considered cheaper schools such as state schools or community colleges?

    Also, don’t forget scholarships as you don’t have to pay the money back, but you may have to look longer and harder to find ones you qualify for. In this case, google is your friend! Be prepared to spend many hours looking online for scholarships. It’s boring, yes, but the time is well worth it!

  94. shanda said,

    I am a 37 yr old stay at home Mom with two children and with the struggling economy my husband salary has drastically cut down to 35,000 . I was wanting to go back and finish school but need Financial Aid. Am I to old to receive help? What are my options? Please help, I need to bring in another salary for our family to survive and need a degree. Need help ASAP.
    Thank you….Shanda

  95. Sounds like it’s a Direct Loan school – the school lends Stafford and PLUS loans itself through the government? In that case, as a 17-year-old you would still qualify if you meet the other requirements.

    Still, scholarships are your best bet! Start doing research now for next semester and next year – get your applications in early. Remember, millions of dollars go unclaimed every year because people don’t bother to apply.

  96. Chelsea said,

    lol but then there becomes a problem with that because the college that im going to doesn’t accept any outside loans.. they only take ones that are processed through that school that i wanted to go to.. and now it’s a little to late to go to another college.. ill have to wait till… January for a community college. but thank you veryy much!

  97. Well, Chelsea, you say that they make too much money but that “they have no money” – not knowing exactly what this means, you may or may not qualify for need based aid. It depends on where their money is going – e.g., mortgage costs for a first house (2nd houses are viewed with less favor), etc.

    Your first resource should be scholarships – you don’t have to pay the money back.

    As a 17-year-old, you can borrow a Stafford Loan. You will not qualify for private loans, but there was a legal exception created in the 1992 renewal of the Higher Education Act to allow eligible students to take out a Stafford Loan when they are 17 because so many graduate high school at age 17 and had trouble paying for school.

    Have you thought about reducing housing expenses? rooming with friends? living at home?

  98. Chelsea said,

    okay my parents make a little too much for me to get a lot of aid, but they have no money. So im wondering what i can do to get money, the college as given me what they can and now its up to the housing that they cant pay for. and im not 18 to get a student loan and they are saying the interest rates are too much that the school has offered and its just a community college. and i personally have an income but i cant work as much when im with school and i want to become a teacher. anything you could think of please..

  99. Hi Danielle,

    Yes, you have some great points (including my inability to answer very specific detailed circumstantial questions!)

    I do want to offer one word of warning – what the IRS considers “independent” is VERY different from what colleges/universities /Dept of Educations/FAFSA consider “independent”.

    To qualify as an independent for more financial aid, you need to be over 24, married, an emancipated minor, etc. Supporting yourself financially doesn’t make the cut.

    Our financial aid system is heavily biased towards parents helping pay for college.

  100. Danielle said,

    Why does everyone think that these very specific questions can be answered by this blogger!

    One thing this blog made me wonder is what are the border incomes that make someone eligible or ineligible for Pell Grants/Sub Loans.

    According to a quick calculator on the FAFSA page its somewhere around $59,300 for a family of 4 that you stop qualifying.

    Its very likely when we get around to having kids and they go to College that they will never qualify for this Pell grant or subsidised loans, but we don’t want to pay for everything either. I woudl hope they still qualify for unsub loans for at least 1/2 their tuition/room board.

    Only advice I have ever gotten is to put as much of the college savings in your childs name as you can, and to fully fund your retirement accounts (that could have helped that person who was $52 over the income to get a subsidised loan, just put an extra $100 in your retirement account and Poof, your AGI is less).

    I also heard someoene today saying that if you stop claiming your child as a dependent the school year they are a Junior/Senior in HS, that you can work around tha parent contribution … but I believe this is illegal and immoral, and also that it just won’t work. That is why the dependent/independent qualificaitons are as restrictive as they are. Because of people milking it like this.

    Also let this be a lesson to those of you who want to “take some time off and just be in the world” all of these things are easier and set up for young high school graduates still under majority support by your parents.

    I modified the little calculator to say the student was independent, and the amount jumped. It hurts those making enough money to get by, but not enough to stop working and go to school full time.

  101. NewYorkGirl –
    Are you sure you’re considered an independent student? The definition of “independent” for financial aid is very different from the standard definition of what living independently means.

    Are you over 24? Married? an emancipated minor?

    If you are truly an independent student, then what your financial aid officer told you is probably true. PELL grants are for extreme economic hardship. You can read more about them at the Department of Education:

    http://studentaid.ed.gov/PORTALSWebApp/students/english/PellGrants.jsp

  102. newyokgirl said,

    If an independent single person with no dependents makes $20,000 during that year, they will not qualify for PELL.

    this is what my college financial aid told me
    is that true,how much I need to make to not succeeds my financial aid Im
    I’m single ,independent with no dependents

  103. My goodness Donald, I guess you’re anxious!

    You can get a parent plus loan at any lender’s website. The company I work for, has an application at http://parentplusloan.com/

  104. Donald White said,

    How do I GET TO AFORM FOR A PERENT PLUS LOAN

  105. Donald White said,

    give me an applacation for a parentplus loan

  106. Donald White said,

    I would like to fill out an applacation for Aparent plus loan

  107. You’re in luck. According to Kiplinger, only the custodial parent need fill out the FAFSA.

    Read the whole article here:

    http://www.kiplinger.com/columns/ask/archive/2007/q1203.htm

  108. Joe R. said,

    Divorced parents- My son wants to attend a State University and his mother the custodial parent wants me to fill out the Fafsa form. My new wife and I make almost $200,000 combined and do not have any debt. We do not want and will not participate in any loan programs and will not be responsible as any co signer. We have advised that we will pay half of all costs for his schooling plus all extras and even allow my son to live with us with free room , board and extras. My first wife and her husband make over $150,000 also so i do not think that between the two families we will have any chance at all of getting any aid. Additionally, I do not want my first wife knowing my income and i have no need to know hers. We have been divorced for 17 years with very little contact except for our son. Why would i have to fill out these forms and is there a requirment to do so? Will my first wife be allowed access to my salary numbers as she is the custodial parent? If i refuse to fill out these forms will it hurt my son in any way as long as i am willing to pay the full fees.?

  109. Teresa said,

    “Have they explained why she is no longer qualified for the unsub?”She no longer qualifies for the unsub because as I stated – this year we were approved for a plus loan even though we can’t afford the payments. Unfortunately if you are less than 30 days late on your bills, they will approve you. I spoke to five different Plus lenders and they all told me the same thing. They don’t even ask you for financial info – only your ss # to check your credit.

    “Has she dropped below half time?” No – 12 credits summer, 15 fall.

    “Have you tried meeting with the financial aid officer and asking them directly? Her GPA may be the problem.” They say that as a dependent student you only qualify for the unsub if your parents are denied the PLUS loan.

    “So if a parent can’t take a PLUS Loan, the unsubsidized loan is available to help students as students typically have no credit.” It doesn’t matter if the parent can’t “take” the PLUS loan. If you apply and are approved, they will not approve the unsub.

    “Perhaps you can afford a PLUS loan after you consolidate it – you’ll pay more in the long run, but you spread the loan out over a longer time period and pay less each month.” What do you mean by this. How can I consolidate a loan I don’t have. And consolidate it with what?

    “I would schedule a meeting with my FInancial Aid Officer and ask them what’s going on.” Already did this – they said they would reconsider if we had a change in circumstances (i.e. change in income, etc) We showed them proof that my husband’s salary was cut 16% effective 1/1/08 but it has to be a 25% drop to be eligible for reconsideration. They asked why we didn’t put the new income on the FAFSA originally when we filed and we showed them where it asks for last year’s income not current income.

    Here’s another kicker – my daughter is the first one in the family to go to college but did not qualify for the First Generation Matching Grant because it is only offered to Pell Grant recipients. We do not qualify for a pell grant because we made $52.00 over the limit. Her roommate meanwhile, has everything covered and gets an overage check of between $2000 and $2500 for each of the three semesters they have been rooming together. Because she qualified for the Pell Grant, they opened the doors to 6 other grants that she would not have qualified for without it.

    I never go to them in anger. I have in tears before but never in anger.

  110. First off, don’t confront him/her – ask them kindly. Anger will get you nowhere.

    If I were in your shoes, I would schedule a meeting with my FInancial Aid Officer and ask them what’s going on. I’d also bring with me documentation of my income and a copy of my FAFSA so we could have all the information necessary right at our finger tips.

  111. Hi Teresa,

    Have they explained why she is no longer qualified for the unsub? Has she dropped below half time? Have you tried meeting with the financial aid officer and asking them directly? Her GPA may be the problem.

    Regarding the Parent PLUS denied issue, if you as a parent are denied for a PLUS Loan, you will most likely be denied for most other loans, as the PLUS loan credit requirements are lower. So if a parent can’t take a PLUS Loan, the unsubsidized loan is available to help students as students typically have no credit.

    And lastly regarding the private loan, if you cannot afford to take out the PLUS loan, DO NOT take out a private loan – it has higher interest rates and fees, plus more limited options in terms of deferment and forbearance.

    Perhaps you can afford a PLUS loan after you consolidate it – you’ll pay more in the long run, but you spread the loan out over a longer time period and pay less each month.

  112. Teresa said,

    addendum to prior post –

    I do not understand the requirement of the denied Parent Plus to be eligible for an unsubsidized loan (in addition to the subsidized). Can you explain it to me?

  113. Teresa said,

    Part of your response to Cody was “Even students with “wealthy” parents normally qualify for the unsubsidized Stafford loan.” Everyone keeps saying that but it is far from the truth. My daughter qualifies for a subsidized loan but does not qualify for an unsubsidized. She lost her scholarship due to her GPA dropping .08 below the 2.75 required (2.67). Last year she had her scholarship and both the sub and unsub (denied Parent Plus) Stafford which all together barely got her by. This year she lost the scholarship and we no longer qualified for the unsub. We cannot afford a parent plus which we were approved for so we are stuck. The only option I can see is take out a private loan. Can you think of anything else? Also what is the maximum subsidized Stafford for a sophmore? Is the lifetime max for Stafford undergraduate loans still $23,000? I was hoping that the govt would raise the limit. At the cost of college these days, that is not near enough – less than $6000 per year.

  114. Sonia said,

    Hello,

    I have a real serious question and don’t know how to go about it. I recently started going to an online school, about 2 semesters ago. My financial aid has been in order and what not, (or at least I hadn’t received any e-mails). Today I got an e-mail from my advisor stating the following:

    There is conflicting data on your current 2007/2008 FAFSA application and 07/08 Verification Worksheet in regards to the Unusually Low Amount of Income you reported for an individual/family to live on.

    In your case, you reported:
    -$0 Income
    -$0 Governmental Assistance (welfare, social security, WIC, food stamps, TANF, disability, etc)
    -$0 Child Support
    -$0 State or Housing Assistance
    -$0 Explanation of Living Arrangements

    I do live with my boyfriend and our son, but we are not legally married. I have never been married and I am just making sure if what they are throwing at me is credible. Do I have to report my boyfriends income even though I am considered single under FAFSA? I do receive medicaid and WIC which puzzles me how they say I don’t receive any assistance. I also received Section 8 last year. I have been independent for a while. My boyfriend makes a little less of $20,000/yr and we pay our rent and all of the utilities. I just need advice on how to handle this situation. How should I confront my financial advisor without being too harsh on the subject??

    Thank you.

  115. luis roman said,

    I WOULD LIKE TO APPLY FOR FINANCIAL AID TO GO TO COLLEGE BUT i have a question I would like to know how much money should a person like me that is marry should have in the bank in order to get financial aid, IAM NOT WORRY ABOUT MY INCOME BECAUSE IT IS LOW , BUT i DO’T KNOW HOW MUCH MONEY SHOULD I HAVE IN THE BANK , CAN SOMEBODY HELP IN THIS MATTER. THANKYOU

  116. Well Cody, if that’s the extent of your financial aid package, then I would start applying for scholarships right away. Have you looked at the Stafford loan yet? Even students with “wealthy” parents normally qualify for the unsubsidized Stafford loan. That will make up another couple thousand.

  117. Cody said,

    Financial Aid? What financial aid? They gave me a 2,500$ work study. Even if I pay the Expected Family Contribution, that still leaves me 10,000$ short? I expected them to at least give me some “aid”, not rely on my school to make up the rest…Any help you can give would be appreciated.

  118. Denise Gulick said,

    I should have done this 3 years ago. My daughter started college she is now a junior My son is now starting college in september with 3 more children to follow. I filed out the fasa form for jen in the beginning but we made to much money, Since then , with another going to Boston college and My husband on disability things are tighter this year, We have our own business and we all know where the economy is I need them or us to get student loans I can not keep going from credit card to c/c. Please give me some suggestions

    Denise Gulick NJ

  119. Kate,

    There are a lot of variables involved so I can’t give you an exact answer. If your only income from last year is the $32,000 then you’ll more than likely get financial assistance. Don’t forget that anyone can get an unsubsidized Stafford loan and that you should be spending a lot of time searching for scholarships!

  120. Kate said,

    What about someone like me; both my parents are deceased, I’m not working, haven’t for a few years now, but I did inherit a small amount of money from my brother last year.. $32,000, but most of it went towards moving expenses and paying off some debts.. There’s about $10,000 of it left..Do I stand a prayer of receiving any financial aid? I’m single, have no children or dependents and I’m looking into going for my B.S. Any help would be appreciated, I’m afraid my dream of returning to college is about to be crushed.. =(

  121. Hi Chris,

    You’re perfectly right – however it will literally take an act of Congress to change the system. Call your Senators, call your representative, have your friends and family call and demand answers. That’s the only way to get change.

  122. Chris said,

    Hey, my parents together make about 150,000 dollars a year. The problem is I do not see a dime of it. I am 21 years old and I claimed myself on my taxes last year so I could be an “independent”. My father always told us (my two older brothers and I) that as soon as we were 18 we were cut off and had to make it on our own. This quite literally happened. Now I have to fill out this form called the FAFSA and because I am under 24 I cannot receive financial aid. I am refused a loan because of “Expected Family Contribution”. Why do they expect that my parents are going to pay? They will not, yet the form still asks for their tax information. I am an independent, and at 18 I am legally an adult, but for some reason I have spent the last three years working, unable to get into school because of a horribly planned system that places higher educational responsibility on the shoulders of the parents. My father is not going to change. He put himself through college in the 70’s and so now I am expected to. Do I really have to wait until I’m 25 to finally get an education? It is very frustrating being told there is nothing I can do by financial aid advisers at the University of Texas. Could anyone please tell me if there is a loophole for my situation, or if maybe there is someone I could talk to with my circumstances. Being crippled simply because I have successful parents on the other side of the country, who no longer have any legal financial liability for me, has tortured me for the past 3 years. Am I the only one who thinks the system is flawed?

  123. donna said,

    My daughter is going to transfer to a state college in the fall, we paid for her first two years at a community college, she will now pay 100% of her 2 years remaining, she will need loans. My husband and I make approximately 75000per year. We cannot afford a parents plus loan or any other loan , how much can our daughter borrow per year for loans, we have called the institution, no one seems to tell the truth its all the same run around, I know about stafford loans, etc. but it seems it will not cover the 15000 a year tuition she will need, how is an average, good grade student suppose to get loans? I am still not clear on dependent or independent students either, and the stafford loans is it 5000 per semester, per academic year, per life time or what, it is very unclear. Thanks

    • Mr Marve Fred said,

      Dear DIANA SHIFFLETT.

      Thank you for the mail

      I will await your urgent mail as soon as possible.

      Thanks for your understanding and co-operation.

      Kind Regards and greeting to your family.

      Mr Marve Fred.

  124. HI Zarah,

    Your financial aid officer is, unfortunately, correct. The law deems that if you’re under 24 and unmarried then you are a dependant when it comes to financial aid.

    You do have options, though!!

    Scholarships and grants can get you very far. Also, there are loans available to you as a student that are not need based, namely the unsubsidized Stafford Loan.

    You MUST file the FAFSA though, to qualify for most financial aid – even many scholarships. SO get that filed with your dad’s information on it.

    Next, troll the web for scholarships you’re eligible for. Google will be your best friend. Also use free scholarship search sites like StudentScholarshipSearch.com – never pay for scholarship information – that’s just a crap deal to get your money in return for something you could do yourself in a matter of minutes.

    Also consider joining some free scholarship programs like ScholarshipPoints.com where you have a chance at winning a scholarship free.

    Good luck!

  125. zarah said,

    I tried to apply for financial aid because I’m currently on my own. They told me that because I was under 24, I am technically still under my dad’s dependency. But my dad makes more over 83000 per year. I’m not sure if I will be qualified, so is there any way I could go to school without having to get a loan out?

  126. Maria,

    Google will be your best friend for your quest. Also, look at free scholarship directories such as StudentScholarshipSearch.com. Above all, never pay for scholarship information. These days with the internet, it’s all at your fingertips, you just need to spend the time to look for it.

    Lastly, check with your sons current school or last school for scholarships – chances are they may know of something that you’re not aware of.

    As for loans, I’m not aware of any particular government loans for people with cerebral palsy, but the Stafford and PLUS loans federal loans are available for the majority of students, if your sons school accepts them. You can visit StaffordLoan.com and ParentPLUSLoan.com to learn more about these loans.

  127. Maria said,

    I have a son with celebral palsy and I am looking for government student loans or low interest loans, or scholarships for him, where is the best place for me to look?

  128. Hello Eloya,

    Perhaps you’re looking for money in the wrong place? Some scholarships and grants are dependent on how much money your family makes, but MANY are not! Use google and scholarship sites like StudentScholarshipSearch.com to find scholarships that will work for you.

    Have you signed up for the 10K scholarship I mentioned a few weeks back?http://www.studentloannetwork.com/10K/
    It takes 30 seconds to sign up and it’s free.

  129. Eloya said,

    My parents make to much money for me, a student, who wants to continue my education but finances seem to be stopped us. Yes like i said my parents make a lot of money but where does it all go?? it all goes to taxes and while my parents support 5 children and one on the way we try every which way to stretch what little we have.
    Grants and scholarships should not be denied or ignore by household income because it does not define who we are and for people like me who really want to be accepted for grants should be accepted for just that WANTING to go to college but suffers by loans!

  130. HI Maria,

    Let me clarify 2 points first of all.

    To receive Federal Financial Aid, your son MUST fill out the FAFSA. IF he does not, he has zero change of getting low-interest aid. It’s really quite foolish to not fill it out. Unless you’re a billionaire, I can’t think of any reason why he shouldn’t fill it out.

    Secondly, the FAFSA is NOT required for consolidation. Consolidation rolls all current Federal loans into one loan with an extended repayment period. As a graduate student, your son will only be able to consolidate his undergraduate loans. It is illegal to consolidate while still in school, meaning he can’t consolidate loans for the degree he is currently working towards. Congress approved this change because when you consolidate, you go into immediate repayment. For most students, t hey can’t afford payments until they graduate and get a job.

  131. Maria said,

    My son has enough money for one more year of school( student loan). He is looking to apply for fasfa for graduate funds/consolidation). an income of $92k for a family of 3. Is that too much to get anything from fasfa?

  132. Hi Cindy,

    There’s no simple answer to your question. It depends on income levels, what you can afford and what your son will pay out of pocket. You obviously don’t want to sacrifice your retirement or you might find yourself struggling in the future just to put food on the table. Be aware that there are Federal loans your son can take out n his own name (Stafford Loans) that have a low interest rate and much better benefits than private loans.

    If you and/or your son do take out loans, these are usually recommended as the best loans to start with. They will also help your son boost his credit ratings.

    And don’t forget scholarships and grants! They don’t have to be paid back. Visit http://www.StudentScholarshipSearch.com to search over 9 billion dollars worth of available scholarship money.

  133. Hi Jenna,

    You’ll want to read what the Department of Education says about it. You can find this information at:

    http://www.studentaid.ed.gov/students/publications/completing_fafsa/2005_2006/ques5.html

  134. cindy said,

    I am close to retirement and my son is going to college next year. would it be better to take out a loan or pay out of pocket for college.

  135. jenna said,

    my parents are split. i go back and forth between houses. my dad makes $50K a year and my mom $70 but my little sister lives with her. whose income would be better to go with

  136. In a situation like yours, your son was considered to be dependant, even though he wasn’t living at home. Living situations have nothing to do with how the government decides. It defaults to thinking that parents are helping pay for college costs, and this hurts students who pay for college themselves.

    I must disagree with your telling your son not to take out any loans. If a small loan means completing college years earlier – and he will be able to pay it back – then it’s the right thing to do. Student loans are the best first loan to have. Not only do they teach young people how to handle debt like they will have to in the future for cars and houses, but they have the broadest forgiveness policies and they are one of the few loans where you can defer – essentially put payment on hold for a few months.

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  137. Marilyn said,

    Hello everyone, this is wonderful. I am dying to get some information since I can never get a straight answer. I was a single mother for almost 11 yrs. I have a son that wanted to go to college. He moved out of my house at age 17 and was supporting himself. They took into account my income when he was 23 yrs old and said he didn’t qualify. Now, keep in mind, I never made anymore than about 25,000.00 yr. And i supported 2 daughters too. So, I could never understand how he was turned down. So, now he is 27, he never went to school then cuz he couldn’t afford it and i told him not to get loans. Keep in mind, his dad was mexican, indian, spanish, italian. I told the lady at financial aid what race card do i need to play?? why do all these other people that make more money get grants?? I can never get any help. So, he is paying for school, one class at a time. I have been helping as much as i can. I told him to try again. He is a cook at a restaurant ,,a good kid just trying to get an education.. PLEASE HELP!!!

    • Sue said,

      I hope your son will reapply thru FAFSA. I know many people who made more than $30000 and received aid so I dont understand why he couldnt get it. But since he is probably no longer a dependent he should be able to really qualify now. If he needs assist he should go to the college to have them help fill it out cause sometimes if not filled out right (which its confusing) then it could mess things up. He should be sure to put any circumstances down that make funds even less…i.e medical problems, braces, child support, that type of stuff. He should apply for the grants & scholarships first and see what he gets. Then if it doesnt cover all then go for loans (but be careful on private kinds) If he has to get a loan then get the federal kind where he has 10 years or more to pay them off after graduation. Its important he just get thru college quicker cause if he takes too long he can loose credits. I believe that credits are only good 10 years before they have to be locked in with a degree. There are also lots of scholarships out there i.e fastweb.com and collegenet.com in which he could apply for and colleges should have scholarships available also.

    • Mr Marve Fred said,

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  138. Hi Deb,
    Could you give me a little more information? What limits are you talking about? Parent loans? Student loans? Expected family contribution (EFC)?

    Regarding Parent PLUS Loans, the only limits are your credit rating and the amount the school allows you to borrow – the difference between the cost of education and any other financial aid supplied, including scholarships.

  139. DEB said,

    DOES ANYONE KNOW THE LIMITS A PARENT CAN MAKE?

  140. muthumbi said,

    In order for a student to qualify for federal sources of financial aid he/she must fill a FAFSA (Free Application for Federal Student Aid) form which in turn gives a feedback of student aid report about what his/her family is expected to contribute towards the student’s education.


    Edited by administrator to remove advertisement

  141. You need to file an appeal with your financial aid office. I wrote an entire post about this that I suggest you read:

    http://parentstudentloans.wordpress.com/2007/06/06/is-it-a-negotiation-or-an-appeal/

    If I were in your shoes, I would contact my Financial Aid Office ASAP and ask about the process for submitting an appeal. You’ll want documentation of your previous and current circumstances, namely you’ll need to show the financial aid officer the differences in your income.

    Remember: be polite! Financial aid officers are not the bogey-man. They really are there to help you.

    Good luck!

  142. Dcopeland said,

    What if last year you made more money than you make this year and financial aid is saying that you can’t get money because you made to much last year?

    • Mr Marve Fred said,

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  143. Anyone can apply for financial aid. That doesn’t mean you’re going to get it, but EVERYONE should apply.

    I’m no financial expert, so I can’t give you specific advice for your situation. Any increase in income will affect your aid, but a difference of $40,000 isn’t going to hit you nearly as hard as, say, $100,000 – see what I’m saying? Schools take into account cost of living, to some degree. They generally don’t expect you to pay every cent you earn as that’s not realistic.

    There is no way for me to determine how much she’d get. The biggest factor in your question is the school itself – a prestigious 4 year college has more money to give away than a 2-year community college, but it also costs a lot more to begin with. Take a look at this older blog post of mine:

    http://parentstudentloans.wordpress.com/2007/03/22/new-efc-calculator-from-the-dept-of-education/

    It’s a service from the US Department of Education that might help you get an idea of what to expect.

  144. Brandie said,

    What if a young couple were to get married? Lets say the girl is only bringing about 8,000 per year…if that, and the guy is making around $40,000…if you combine there incomes and they get married then will the girl still be able to apply for financial aid? And if so, what would be the amount she’d most likely get?
    A friend and I are really curious.

  145. Fred said,

    What if I make less than $30,000 a year for a family of 4, but we just inherited $300,000, would we still be eligible for financial aid?
    Do we need to pay back money since the inheritance occurred in June 2007 and we still have 2 children in college who will receive money upon their return to school in August and September? Fred

    • Mr Bill said,

      since you need loan applied now and get yours on time now

  146. BA said,

    Do you offer educational loans? I have an excellent income, very stable job history. I have been with same company for 8 years, however my credit is poor due to some unforeseen circumstances. I am rebuilding my credit now, however I need the educational loan for my daughter.


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