Paying for college questions?

Question

I am the first in my family to go to college and I don't think my mom has any idea what she really is talking about. So, she filed the FAFSA this year but she claims that next year and the years thereafter I have to do it and therefore and I am left to pay the college bills. I got lucky and only have to pay about 4500 this year and most likely the next 3 years. She wants to take out some of my 14000 inheritance money I have for the first year and leave the rest for emergency money or for future house down payment or something. She's making out it that she's not involved after this year. Is that so? If you have any suggestions don't hold back. And please be credible.

Answer 1

Honestly, she is under no obligation to help out with your college payments.. You can keep filing for FAFSA every year to help out, you should also take out loans, and apply for scholarships..

Answer 2

While she is under no obligation to help you, the government and universities disagree. As a result, you will likely have to file as a dependent according to their guidelines (I've been living on my own with no financial support from anyone for 6 years and I'm still considered a dependent by my school). This will affect your aid award as the school assumes the parents will contribute. All financial aid applications have a section to explain any extraordinary circumstances -- use this to describe your situation and if possible get your mom to sign it.

If your mom isn't going to help with school, then tell her to get out of your inheritance: go see your school's financial aid counselor, or an advisor in charge of your inheritance to see what you can do to leave your savings as intact as possible while still paying for school.

You not only have to fill out the FAFSA, you often have to fill out the school's own Financial Aid Application. Take a notebook and go to your school's financial aid office. Tell them you're on your own and ask them to walk you through the process. They don't want to give you any more money than they have to, so they'll direct you through Stafford Loans, Pell grants, available state grants, and possible scholarships. Ignore deadlines that you've missed, just get everything done ASAP.

Good luck!

P.S. The most annoying thing is the entire process has to be repeated every year.

P.P.S. I'm not sure if these guidelines have changed, but when my parents couldn't pay I became eligible for an unsubsidized Stafford Loan -- this is still a federally guaranteed loan with all the benefits that come with it, except you are responsible for the interest on the loan (usually the government pays the interest)