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What exactly is financial aid and how do you get it?

How can I get the most money in financial aid for college? What are my options?

  • I am 21 years old and I live with my parents who both have decent paying jobs, I would say we are upper-middle class. The problem is they won't help me pay for college and they won't co-sign a loan for me. I am pretty sure I won't qualify for any federal grants living at home. Should I try to move out then apply for aid/grants? Is there any possible way that I can qualify for grants or aid while living at home? I am very desperate for advice considering I have little to zero guidance. I am scared I won't be able to afford school, which is very depressing. I would really appreciate advice, thanks.

  • Answer:

    Your aid will not be affected by whether you are living at home or on your own. You probably will not qualify for any grants, but you could try applying for some scholarships. If you don't have good grades and some quality extra curriculars, it's a long shot, but you never know.. If you complete the FAFSA, you will be eligible for some student loans ($5,500 for the first year). If you attend a low cost college like a community college, you could pay at least part of it with money earned from a part time job and most likely you would be able to cover the rest with student loans. As tempting as it may be to have an apartment of your own, you should remain at home and take advanatage of the savings--put any money you have toward paying for school and keeping your debt burden as low as possible. After a couple of years at a community college, you may be able to transfer to a 4 year college. If you've done well at the CC, you may be able to get some scholarships to help pay for the more expensive traditional college. You can maximize your chances for that by maintaining high grades and getting involved in college activities or community activities that are connected to what you plan to major in. You may not be able to pay for the college of your dreams, but a quality education is within your reach if you are willing to work for it.

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Fill out the FAFSA. You can ask for help to do so at the financial aid office of the school where you are going to register. Explain the situation. You'll probably need your parents' income tax information, you financial aid adviser will help you with that. If you don't have much resources, the best is start in a community college, and take things from there. I suggest you to move out, as soon as you can.

mariapavletic

moving out (even if you are fully self-supporting) won't change FAFSA rules and those rules are that you be over 24 to be independent student other options include joining the military Other students in your shoes work & pay for school one class at a time if they have to You can always go for less money by going to a community college... at least to get your Gen Ed credits out of the way When I was a kid (I am now 46) the majority of people my age were EXPECTED to pay for college themselves... parents rarely felt the responsibility to pay for their kids education... this is why we went to work at 15 & then instead of spending the money we saved it (along with money given to us for xmas, etc...) so that we could have something for school most of the students I know work full-time or near full-time & go to school full-time..... and that includes students who are currently in school that are friends of my son and students that are in school currently with my boyfriend

Achelios

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