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26 Comments
- pwarnock, on 11/05/2009, -1/+32I never understood why parents' income mattered when I was paying for my own school.
- Pecheckler, on 11/05/2009, -1/+18If the student under 25 lives on their own and is completely independent financially (paying rent, utilities, insurance, etc), and can prove it, than their parents income does not matter when it comes to federal loan amounts, but that's just about the only exception.
It gets pretty bad when you compare middle and upper-middle class students of parents that either make to much and won't contribute to the education of their children, but the students still have to live at home. Meanwhile students of low income families receive 3 times the loan amounts and are still allowed to remain living at home.
I know many college students who have to work 40+ hours a week at near minimum wage jobs while attending college full time, just to manage to pay for tuition and expenses while still having to live with their parents. Meanwhile their counterpart students of low income families get enough from federal loans to live on their own and not have to work, they can just focus on their education.
There's ups and downs from any angle you look at it, but since I had to deal with twice the typical workload, and four hours of sleep a night for four years because of it, I absolutely despise the Expected Family Contribution calculation system. - bagelmaster, on 11/06/2009, -2/+17Just another way the US government screws over achievers while helping out bums. Your parents are poor? Congrats you get basically free school! Your parents actually sought and achieved employment? Oh... that's too bad, prepare to be ass-raped by student loans while your dad refuses to contribute saying it "builds character" to be in debt for 10 years. Luckily my dad was cool and helped me pay off my loans, but some people get super screwed by their parents first then the government second.
- liquisoft, on 11/06/2009, -2/+14The FAFSA is a giant joke.
My parents didn't make much money at all, and couldn't afford to send me to college. I wanted to go to college but wasn't completely independent at that point. FAFSA rejected us on the basis that my parents made too much money, so I had to take on all the student loan debt myself. Fortunately I can afford to pay it, but the fact still remains that you've gotta be really quite needy to get the FAFSA yet they talk about it as if it's easy money for everyone's college education. - anchor, on 11/06/2009, -0/+12Fact: Financial Aid was originally devised for people WHO COULD NOT AFFORD to go to college, to go on the governments dime. Financial Aid was never about merit...
As such, if you can afford it, you've no right to complain. - inyearstocome, on 11/06/2009, -0/+7This isnt so much "11 student aid traps" as it is "how not to mess up the FAFSA."
How about more pertinent tips, like:
-Max out all possible federal loans before selling your soul to SallieMae. :-/
-try to get adopted by a teacher or faculty member at the school-- tuition remission! yay!
-work study is usually less beneficial than a real job-- less money and crappy resume experience
etc... - Caergrim, on 11/05/2009, -3/+9I'm one of those students from a low income family that can stay home and do whatever I want while still getting money. It is nice.
- edstate, on 11/06/2009, -3/+7Federally subsidized student loans are the reason College is so damn expensive. Same thing happened with the housing market. Economics 101, ironically.
- RachelJTM, on 11/05/2009, -1/+5Agreed. Its not right!
- Pecheckler, on 11/06/2009, -0/+2Take two students: One from a low income family and one from a middle class family.
Perhaps the low income family wants to help the student with tuition, but can't afford it(irrelevant to the EFC calculation), meanwhile the middle class family will not help pay for the tuition of their student.
Both students cannot afford to live on their own (having a job is irrelevant to the EFC calculation). Both students are getting zero dollars from their parents for tuition. Both students have essentially the same bills to pay(books, insurance, food, clothes, etc). So, why is it fair that the student from the low income family get more money for tuition?
Both students are in the EXACT same situation. So, how is it fair that the student from a low income family get enough cash for their tuition and school expenses, and more for living expenses if requested? The other student will be forced to get a job for other expenses.
I'm seriously asking, kyzel. How can you think that is fair? - captspaulding, on 11/06/2009, -0/+2Who cares?
- centran, on 11/06/2009, -0/+2Same reason why if your parents graduated college matters. Assumptions and statistics.
They assume your parents are "slipping" you money. Just like the assume you will never graduate if both your parents didn't so they won't give you money. - BicBall, on 11/06/2009, -0/+2beyond what was already said, another factor that screws me is that i live in a very expensive area and my parents make money respective to that. when compared to friends at school who live in different areas their families make less money but the cost of living there is phenomenally lower. they get financial aid and blow it on new laptops while i work full time
- blackplague8502, on 11/06/2009, -0/+2If your a veteran you qualify as an independent student. So its possible to join the military at 18 get out at 22 and be qualified as independent.
- shadowmoose, on 11/06/2009, -0/+2FAFSA only works if you're dirt ***** poor. Prove me wrong.
- javidpk, on 11/06/2009, -0/+1Ohh...where are my parents???
- kuzotz, on 11/06/2009, -0/+1that would be the case as my dad makes 150k a yr.. my mom and dad divorced when i was 3. My mom makes 80k a yr. I'm stuck with student loans, but I think its only about two yrs worth. They took most of my free aid away as I became a junior mostly because it was only for freshmen and sophmore yrs. It sucks. I tell ya!!
- kyzel, on 11/06/2009, -0/+1The problem seems to be that your parents are *****, not the system. At least your parents have the option to help you. If the system was the way some people in this thread want it, no one from low income families would be in college, and to me that's way more ***** up than the current system will ever be.
- trevorjez, on 11/06/2009, -0/+1I wish someone would have given me this advice: "It isn't free money. Future you will hate you."
- kuzotz, on 11/06/2009, -0/+1work study is worthless they don't even waive your tuition its like they give you a paycheck in aide and deduct like 1000 bucks from your yearly tuition fees. ITs ridiculious how stingy Unis are.
- kuzotz, on 11/06/2009, -0/+1anchor no one can afford to goto college in America unless you're rich. Upper middle class families have a hard time funding it. Try paying a 30-40k yearly tuition as parents who might have a mortgage still, and ooo income taxes, and property taxes, and bills. I liked how you told the guy to stop bitching about poor people. That's cool. Poor people are employed they're just poor. I think FAFSA is great for them I think FAFSA needs some reform to allow more people to be able to qualify for it. FAFSA literally cuts off at a 40k yearly salary. That's lower middle class in oklahoma, but on the coast lines that's basically poor. You cannot afford Uni, but the US gov't seems to disagree.. Obviously they don't see your finances so they must know better right? I wish we were more like other developed countries.
- liquisoft, on 11/06/2009, -0/+1I couldn't afford to go. That's what borrowing money is about. The only part I can afford NOW is the loan payments.
- rumblpak, on 11/06/2009, -0/+1correction of step 3.
GO WITH THE PARENT THAT MAKES LESS MONEY.
If my parents were divorced I'd be on a full ride scholarship, instead i'm stuck with a ***** ton of loans. - anchor, on 11/06/2009, -2/+2Seriously. He announces that ***** like it's some miracle.
"I can afford to pay my monthly cell phone bill. I'm a winner." /smug - anchor, on 11/06/2009, -8/+7This whole post smacks of:
"Damn those poor people. Why should they get any help? What about me? I'm a middle class kid with every advantage afforded in life. The world is against me I tell ya."
Man the ***** up. - randmcnally, on 11/06/2009, -4/+2"fortunately I can afford to pay it"
way to pay your bills dude! you're doing way better than your lousy drunk* parents.
*assumption
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