FAFSA question.?

Question

Ok... I'm trying to receive funding from FAFSA because I'm a full time student. My parent currently claim me on their taxes and i htink together they pull around $100k a year before taxes... they are in quite some debt so there isn;t much to pay for my college... now how can I be guaranteed funding from FAFSA? If they don't claim me and I am a full time unemployeed student, or low wage employee can that work??

Answer 1

The FAFSA doesn't guarantee financial aid. It tells the school and you how much your parents (or you) will be responsible for paying out of pocket (EFC-Expected Family Contribution) before you qualify for federal financial aid. And that financial aid can be in the form or grants if your financial need is great enough or federally guaranteed loans. If you go to a relatively inexpensive school, you may not qualify for any federal financial aid.

The FAQs on the FAFSA website say to talk to your financial aid officer if you have a financial situation that the form doesn't ask about.

I don't know what state you live in or if you are attending a public or private college, live on campus or at home but there are ways to work it out.

Answer 2

In order not to be a dependant you have to be either 24, married or have a child.  I was 22 living on my own since 18 working full time, doing my own taxes and could not get aid because my parents made to much money.  Kinda dumb.

Answer 3

You can get an unsubsidized federal Stafford loan regardless of your parents income.  You do not need to have a job, have a cosigner, or pass a credit check.  It's your parents income they look at when determining fin aid, not their debt though.  Here is a good book on student loans.  Look on page 9 and 11 for the interest rates and terms.  Dependent freshman can borrow 3,500 a year, soph 4,500 a year and Jr's and Srs 5,500 a year.

Answer 4

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