My parents make a combined $85,000 a year before taxes. Should i be able to get any financial aid?

Question

Im not working, i'm living with my mom, step dad and my sister. Plus we don't hardly have anything in savings...

Answer 1

my parents make a comparable amount of money, and they can get financial aid for me, though not as much as if they earned, say, half that. The less income you have, the more financial aid u get. They need to save now and learn to budget better if they are paying for your education.

Answer 2

if your mom files separate from your step dad and claims you (and your step dad does not) you might could get grants (depends on how much your mom makes alone).  just when you fill out the forms leave the father part blank but thats only if your parents dont file jointly.....you could say they are separated but not divorced..

Answer 3

Anyone can get financial aid.  They probably make too much to have you qualify for grants, but you can always get loans, no matter their income.

The best thing to do if you're looking for grants is to have them stop claiming you as a dependent on your taxes.  If you're independent, and have no income, you will qualify for more.

Answer 4

You will be eligible for a federal stafford loan. $3500 if you are a freshman, $4500 if you are a sophmore, $5500 for junior or senior in college.  

You will not be eligible for any Federal Grant money.

Answer 5

On ething you can do is start checking with the financial aid dept of the college you want. Or check with your high school counselor guidance theyhave LOTS of information. You can even get small scholarships for graduateing early.

If you can't get enough aid then consider a community or jr. college for 2 years.   They are way less expensive and you can get a lot of basic courses out of the way first then go on to another college.

Answer 6

It depends on what you mean by financial aid and what type of college you are going to. If you are going to a college with a small endowment and expect a good amount of need-based financial aid, you will be rather disappointed. You will probably be able to get loans (another source of financial aid).

Finally, if you worked hard in HS you may be able to get some merit-based aid, much of which is need-blind, especially in private colleges (meaning that they do not look at your income in deciding how much to give you, but rather on your grades/test scores, etc).

Answer 7

Unfortunately, your parent's salaries are a big factor in what you will receive on your FAFSA if you are a dependent.  You will most likely be able to at least receive some loan money that you won't have to pay back or pay interest on until you finish school.

I would suggest also checking into scholarships and perhaps a part-time job to help pay for some living expenses.  I know, it can be tough.  You might want to sit down with your parents and discuss the best possible options for making school happen for you, if they are willing to help you out.