How do I pay for college when my parents aren't paying a cent!?!? & with no cosigner!?

Question

How do I pay for college when my parents aren't paying a cent!?!? & with no cosigner!?

Answer 1

Amy:

The only legitimate source of financial assistance for you will have to come from the federal government, your state government and your educational institution. If you do not have a cosigner and/or significant income and an extensive credit history, you will not find any legitimate private lenders who will lend you money.

Students do not need a good credit history or an income to receive student loans backed by the federal government. When you complete the FAFSA (Free Application for Federal Student Aid), the Department of Education will qualify you for assistance, based on your family's financial circumstances.

Do NOT believe anyone who tells you that you can apply for federal assistance as an "independent" student because your parents aren't willing to help you pay for school. That advice is frequently offered here, but it is wrong.

You are only an independent student if you are over 23, married, an orphan, caring for children or another dependent, or a member (past or present) of the US military.

It doesn't matter if your parents give you money, claim you as a dependent on their tax returns, let you live in their home, or even if they refuse to give you the information you need to complete their portion of the FAFSA. You are still classified as a dependent student for FAFSA purposes - unless you fit one of those categories above.

Depending on your FAFSA information, you will qualify for at least $5500 in Stafford loans - you may qualify for additional forms of financial aid as well.

Start by completing the FAFSA. You will need to provide information about your parent's finances, as well as your own. If they won't help you with that, then they're really doing you a huge disservice, because they would even be keeping you from qualifying for loans.

Unfortunately, you're going to have to be very realistic about your choice of school. If you were buying a car, you'd probably stay far away from the Lexus dealer, because you know you can't possibly afford it. Your choice of schools works the same way. You might want to go to a Lexus college, but you're going to need to comparison shop and pick a Hyundai college - because the amount of assistance that you will receive is going to be quite limited.

I've attached a link to the government's pamphlet that explains the federal financial aid program, and another link to the FAFSA application. I hope these help you.

Best of luck.

Answer 2

Get a job.

Answer 3

Get a student loan.  I don't have a job and I have one.  I have to start paying it back 6 months after I graduate.