FAFSA...sucks!!

[shy*violet]

Originally Posted by natalie78

Did I say that I was expecting a free handout for school? No, I don't believe I did. I did work and I did pay for it. I also don't believe that I said I expected my parents to pay for it. It's not a parent's responsibility to pay for their children's educations beyond high school. If a parent volunteers to do it, great. If not, work through it. I did that for both my bachelor's and master's degrees. But, it would have been nice to have just a little but of assistance, KWIM?

Yea I do understand that it's nice to have some assistance, but unfortunately, not everyone qualifies for that. And some people qualify more than others b/c of income or other criteria used by FASFA to determine eligibility.

I never said that you wanted a free handout... no one really gets "free" school unless they are on full scholarships. I just said that ultimately, it's the responsibility of the individual going to school to cover the costs, because parents aren't "required" (for lack of better word) to pay for higher education for their children. Some parents do, and that's great, but that's not always the case. I was just saying that the "family" or "parent" contribution (however it's worded in the FASFA award letter) isn't really the responsibility of the parents... it's ultimately the responsibility of the student.

If that expected contribution amount can't be met, there are other ways to get financial help outside the FASFA including private loans, jobs, etc.

Quote:

And about living with your parents, I was addressing that statement to those who are of adult age, still live at home, but complain that their parents make them follow rules. If you don't like your parents' rules, but insist on living at home and complaining, then no, you are not a real adult. You are still a teenager who is not ready for the real world.

That makes a lot of sense the way you worded it here vs. the way you did previously.

Your previous post said:

Quote:

More people should think that way instead of complaining about how they don't get treated like an adult by their parents. If you still live with your parents, guess what? You are not really an adult.

...which isn't very specific at all - it's basically a blanket statement that implies ALL young people who live with their parents are not really adults.

There are plenty of mature young adults who are living with their parents to save money in rent. Not everyone who lives at home whines and complains about "not being treated like an adult".

Likewise, there are some young adults who are financially capable to live on their own and still be whiny and complain all the time about how the world doesn't treat them fair or like adults or whatever.

Just as I said before, Owning a house does not always = maturity, just like living with your parents doesn't automatically = immaturity.

I guess I just didn't understand where that statement came from because it didn't seem to fit with the context of the discussion going on regarding the FASFA and fin-aid.

[MissPrincess88]

Originally Posted by LilGlove

Every single school has an appeal's process for gaining independence under the age of 24 (and not married/no kids). You would of course have to establish your independence and/or alienation from your parents. It's quite reasonable, actually. I think FAFSA rocks, btw. It allows many, many truly disadvantaged kids to obtain an education they would otherwise never be able to afford, via grant money and low-interest loans. Why would anyone knock that?

I totally agree!!! I think it is ridiculous to expect much if any contribution from your FAFSA while buying a home! It is your choice, good or bad, to buy a home. "In this economy" you should consider yourself lucky to be in the position to make this major purchase.

Independent or dependent, the fact that you're able to afford a home is probably going to make you ineligible for most aid. You are paying for your own home right? Well, that money is going to be calculated into your income, despite the fact that its not available for school. It really irks me when people make a choice about which purchase they think is more important, but then complain about lack of money to afford the other. If I lived in a luxury apartment and drove a Mercedes, even if I was independent, I would not expect financial assistance. It is a choice. If you lived in a $500/ month apartment and were declared independent, it may very well be a different story.

You CAN talk to your fin aid advisor and if you're able to prove your independence, they will change your status despite not having a child, being married, etc. However, I personally do not think that if they are aware of your financial situation you will get aid. As another poster advised, try for sholarships. If you're really in need, loans are always there.

[Rocket80]

Yeah, FAFSA isn't intended to help people who can already afford a house......at least it shouldn't be, imo.

[natalie78]

^

[natalie78]

shy, I do realize that my statement was overly broad, but I was getting aggravated with those who were saying that just because she could buy her own home, she shouldn't be able to qualify for aid.

[shy*violet]

Originally Posted by natalie78

shy, I do realize that my statement was overly broad, but I was getting aggravated with those who were saying that just because she could buy her own home, she shouldn't be able to qualify for aid.

Well, like I've said before, I think it's great that she's in a position to purchase a home at such a young age...

However, if she is in such a great financial position to buy a home, then the folks at FASFA probably look at all of that and would say that she's in a good enough financial position to pay for at least $14,000/yr of her own schooling.

FASFA is based on a ton of factors - including financial need.

If she can afford to buy a house at such a young age, in my opinion, she must be doing pretty well financially. I think that is great, but like someone already posted, don't be upset that you only have a finite amount of money, you spend it one thing, and then get upset that you can't afford something else.

Instead of griping about it, channel that energy and do something positive for the situation -- seek out scholarships or do any of the things that others have suggested to find other sources of help, or attend a less expensive school.

And like someone else has already posted -- there are a lot of crazy economical things going on right now. There are people who truly can't afford to go to college, they dont have their own homes, and their financial aid is getting cut because banks are lending less. I truly think the OP should be appreciative that she at least got some help (at least I'm assuming she did... I don't believe that she ever said for sure)

[yvalenz]

Just jumping in to clarify a few things:

FASFA is the application that qualifies a student for Federal, State, and Local aid. This includes both grants and loans.

The formula used to determine how aid is awarded is based on a model from 1965 and expects that families are the "All American" nuclear family model where children live at home until they are married themselves, and parents support their education until they are 24, or deemed independent by their own marriage, child, >24 and parents are deceased, veteran, etc.

Educators have tried without success to change those definitions.

The federal formula does not factor in primary residence ownership of the parent. Universities however can use this in their award packaging for local aid and scholarships/grants.

Shy*Violet is somewhat correct - the amount of aid is based on student need. The simple formula is Cost of Attendance (tuition, books, board, misc) - parental/personal contribution = need. The "need" is what is awarded.

[shy*violet]

Originally Posted by yvalenz

Shy*Violet is somewhat correct - the amount of aid is based on student need. The simple formula is Cost of Attendance (tuition, books, board, misc) - parental/personal contribution = need. The "need" is what is awarded.

True... but it is also based on financial need... which is why it takes assets & income into consideration... and other factors like the number of students in that household that are attending college.

[barcreperie]

Loans I have no problem with, but as a taxpayer I would not be happy if financial aid is being granted to students who have enough money to attend school and pay for it, but choose to buy a house instead and expect taxpayers to pay their tuition. If the latter is what is going on, there are some serious problems with the evaluation of need.

[jayjay77]

I guess I'm in the minority, but I don't equate owning a house with wealth. I know when I bought my home the monthly payments were much less owning a home than renting.

I can't speak for OP but for many universities the financial aid for students comes from endowments funded by private alumni donations, not the taxpayers. I give generously to my alma mater because I want students to have the same opportunities I had. FAFSA is used to assess both private and government aid.

[MissPrincess88]

Originally Posted by jayjay77

I guess I'm in the minority, but I don't equate owning a house with wealth. I know when I bought my home the monthly payments were much less owning a home than renting. I can't speak for OP but for many universities the financial aid for students comes from endowments funded by private alumni donations, not the taxpayers. I give generously to my alma mater because I want students to have the same opportunities I had. FAFSA is used to assess both private and government aid.

I agree that owning (buying) a house doesn't necessarily equate with wealth, however there ARE cheaper options to live until you are finished with your education. I'm not sure about price differences in a monthly mortgage vs monthly rent, but I'm pretty sure there is a certain percentage which must be put down up front when buying.

It is true that many of the scholarships come from personal endowments, but there are many of those scholarships which are NOT need based. This means if the OP meets the other qualifications (academic, athletic, etc) she could get one. However, most aid money is in the form of grants which is government money and is need based.

Since there is a limited amount of funds available, I think it is fair to award the money to someone who CANNOT afford to go to college because their money goes for them (and maybe even their family) to SURVIVE, not someone who chooses not to pay for college because owning a home is a higher priority.

[KarraAnn]

Originally Posted by MissPrincess88

Independent or dependent, the fact that you're able to afford a home is probably going to make you ineligible for most aid. You are paying for your own home right? Well, that money is going to be calculated into your income, despite the fact that its not available for school. It really irks me when people make a choice about which purchase they think is more important, but then complain about lack of money to afford the other. If I lived in a luxury apartment and drove a Mercedes, even if I was independent, I would not expect financial assistance. It is a choice. If you lived in a $500/ month apartment and were declared independent, it may very well be a different story.

Actually I live in about a $600 a month house which is not a lot more if not equal to the amount it would cost to rent out an apartment around here. ( I know you people probably think I'm a big looney but I bought the home for 70,000 in Michigan) Anyways I do not live in any sort of 'luxury' home or drive any extravagant car at all. I do not see why buying a home is being counted against me! I need a place to live and besides my down payment my house is not costing me any more than someone who chose to live in an off campus apartment or even a dorm!

Anyways..I have done some research and read about 'dependency overrides' which I will be talking to my advisor about, but from what I have read you have to be from an abused home or emancipated have that sort of thing. But it is definitely worth a shot!

[KarraAnn]

Originally Posted by shy*violet

True... but it is also based on financial need... which is why it takes assets & income into consideration... and other factors like the number of students in that household that are attending college.

So if I can get them to consider me 'independent' they will consider that I have an asset (My house) and give me less assistance for it?? Like I could just sell that to pay for my college if I really had too?

[CuriousGeorge]

Originally Posted by cocokitty

LMAO Your story reminds me of this Egptian kid I knew my freshmen year of college. He tried filing for a Fasfa and he declared himself as a independent. This guy was living in a country by himself with two jobs, sending money over to his parents and they still didn't want to list him as independent. They kept giving him the run around. He told me they would ask him "How much do you make a month?" I forgot the amount and they were like "how much do your parents make". He made the converison and it was a small amount and they were all "How do they live on that?!" So, he told them he basically supporting his parents and they still tried to not put him down as independent. They kept trying to ask the same questions. I guess, maybe they thought he wasn't being honest. I wish I had kept in contact with him.

This also reminds of my SO's cousin who lives in the states with just his siblings and relatives. His parents lives overseas in Asia and make enough money to be slightly on the RICH side - live in luxury. However, when he reported his parents income on fafsa, it was such a low amount in US dollars (plenty for their cost of living overseas), that he qualified for SO much coverage, it was ridiculous. There are definetely tweeks that people take advantage of...

Luckily, my Mom makes peanuts, and Fafsa covered a good portion of my tution and I was able to work hard for the rest... Otherwise I would've strangled SO's cousin our of jealousy.

Also OP, what you can do is take advantage of the student loans. Its either subsidized or unsibsidized (I've forgotten which one), but one of them, the government doesn't begin to charge interest on them until 6 months after you graduate. I took as much of those loans as I could, put them in a CD for 4 years, and waited till 5.5 months after graduation and paid them all back! I feel kind of silly thinking about it now, but I felt so clever at the time. HAHA. Good luck talking to your advisors...

[shy*violet]

Originally Posted by KarraAnn

So if I can get them to consider me 'independent' they will consider that I have an asset (My house) and give me less assistance for it?? Like I could just sell that to pay for my college if I really had too?

I don't work for the FASFA ppl, so you'll have to research that on your own.

I do think that ALL assets are figured in -- even those assets that are not necessarily "liquid" assets.

Someone earlier said that her parents owned a lot of land and land is an asset, so that was counted in her equation since she was considered a dependent.

If you think about it, you did put in some liquid assets for a down payment. I know you said the house was not expensive, so your down payment probably wasn't enormous, but that money could have gone towards other things - like education if you knew your parents weren't going to help you with school costs.

I think this is a great example that illustrates that buying a house changes *everything* and changes so much more than where you live and how much you have to pay to live there.