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View Full Version : Financial Aid Help! (Weird Situation)


ienivs
04-15-2013, 11:23 PM
I come from a pretty well to do family (monthly income >$10,000) but what if my parents are unwilling to pay for the majority of my school fees?

Will i still qualify for financial aid? By the way, I will be 21 when I attend the university and I don't think my parents are obliged to pay for my tertiary education.

havok_ex
04-15-2013, 11:45 PM
No you will not. Financial aid is strictly given under household income or per capita income. Get a bank loan if your parents are unwilling to pay for it, although they seem to be more than capable. A better alternative would be to loan it directly from your parents, then you wouldnt have to pay the bank any interest. Pay your parents back when you start work. If they dont like the idea, offer them the bank's interest rates. That way, the 'interest' is given to your parents instead of the bank. That's what I'm doing by the way. I offered to return them the money with interest. That way they pay for my education and I get to return the favor.

ienivs
04-16-2013, 12:25 AM
Oh okay. I found this btw:

http://collegeapps.about.com/od/payingforcollege/f/independent-status-financial-aid.htm

Guess that answered my question.

patryn33
04-16-2013, 04:18 AM
Oh okay. I found this btw:

http://collegeapps.about.com/od/payingforcollege/f/independent-status-financial-aid.htm

Guess that answered my question.


Just an FYI the above is strictly for American citizen. FAFSA is for American citizen

mishieru07
04-16-2013, 05:13 AM
I come from a pretty well to do family (monthly income >$10,000) but what if my parents are unwilling to pay for the majority of my school fees?

Will i still qualify for financial aid? By the way, I will be 21 when I attend the university and I don't think my parents are obliged to pay for my tertiary education.

Financial aid in the US tends to be need based (you'd need to submit forms declaring your family income etc). If you're "pretty well to do", I doubt that you'd be eligible.

I'm not sure what the requirements for a bank loan are - presumably your parents (or someone else who has an income or assets) will need to be your guarantors. Otherwise, you could perhaps promise to pay your parents back if they sponsor you now? Or alternatively, you could try for scholarships.

Be forewarned that an overseas education in the US can be pretty expensive. The colleges can charge you an arm and a leg in tuition fees alone.