[DanKO]

I have a question regarding eligibility for financial aid at Cal State colleges (Cal Grants, etc).

If I currently live at home and my parents make over $100,000, does that mean I am shit out of luck? I ask this because some parents are more willing to shell out money more than others on their kids education if you get my drift. I would like to live on campus at a certain Cal State college.

My parents want me to commute to a local college so they can save money. Is there any way around this? Basically I cannot go away to college because my parents make too much money?

Any personal information would help. I know there is a lot of info out there but I have never filed for financial aid before.


Thanks.

[Xenu]

Have you filled out your FAFSA and asked the financial aid office?
(sorry if those are dick questions that don't help)

[DanKO]

Originally Posted by Xenu

Have you filled out your FAFSA and asked the financial aid office?
(sorry if those are dick questions that don't help)

I came to Sherdog first. I am not even sure if I'm eligible.

[BasRuttenFan]

As stated, the FAFSA is you're first thing to do. I didn't qualify for any grants b/c my family income was in the $70,000 range. That was in 1995. You will be able to get loans, but I wouldn't count on the grants. The only way to get a grant in you're situation would be claiming independent so you're income would be shitty. I wouldn't count on a bedroom when you come home though, that would also mean you're parents couldn't claim you on taxes.

[VinnyIsMe]

If your parents claim you as dependent, and they make over 100k combined, chances are you will not get any financial aid (from my experience of course).

Have your parents speak with an accountant or adviser about how to maximize financial aid if you do apply, my parents did this and it basically got me from no aid, to full aid (~8-9k a year).

The big thing that got me the aid was changing which house my parents owed money on. In our case, my parents inherited a house, which they therefore owned outright, while having a mortgage on the house we lived in. FAFSA considered the equity in the inherited home against my award, but they didn't count the equity in the home you live in against you. So they basically took out an equity line on the inherited house, payed off our current house, and owe on the inherited house now. That brought the equity down on my FAFSA form and for me lots of money. I love my parents haha.

[VinnyIsMe]

If your parents claim you as dependent, and they make over 100k combined, chances are you will not get any financial aid (from my experience of course).

Have your parents speak with an accountant or adviser about how to maximize financial aid if you do apply, my parents did this and it basically got me from no aid, to full aid (~8-9k a year).

The big thing that got me the aid was changing which house my parents owed money on. In our case, my parents inherited a house, which they therefore owned outright, while having a mortgage on the house we lived in. FAFSA considered the equity in the inherited home against my award, but they didn't count the equity in the home you live in against you. So they basically took out an equity line on the inherited house, payed off our current house, and owe on the inherited house now. That brought the equity down on my FAFSA form and for me lots of money. I love my parents haha.

[VinnyIsMe]

If your parents claim you as dependent, and they make over 100k combined, chances are you will not get any financial aid (from my experience of course).

Have your parents speak with an accountant or adviser about how to maximize financial aid if you do apply, my parents did this and it basically got me from no aid, to full aid (~8-9k a year).

The big thing that got me the aid was changing which house my parents owed money on. In our case, my parents inherited a house, which they therefore owned outright, while having a mortgage on the house we lived in. FAFSA considered the equity in the inherited home against my award, but they didn't count the equity in the home you live in against you. So they basically took out an equity line on the inherited house, payed off our current house, and owe on the inherited house now. That brought the equity down on my FAFSA form and for me lots of money. I love my parents haha.

[VinnyIsMe]

If your parents claim you as dependent, and they make over 100k combined, chances are you will not get any financial aid (from my experience of course).

Have your parents speak with an accountant or adviser about how to maximize financial aid if you do apply, my parents did this and it basically got me from no aid, to full aid (~8-9k a year).

The big thing that got me the aid was changing which house my parents owed money on. In our case, my parents inherited a house, which they therefore owned outright, while having a mortgage on the house we lived in. FAFSA considered the equity in the inherited home against my award, but they didn't count the equity in the home you live in against you. So they basically took out an equity line on the inherited house, payed off our current house, and owe on the inherited house now. That brought the equity down on my FAFSA form and for me lots of money. I love my parents haha.

[Jdow187]

Originally Posted by DanKO

I have a question regarding eligibility for financial aid at Cal State colleges (Cal Grants, etc).

If I currently live at home and my parents make over $100,000, does that mean I am shit out of luck? I ask this because some parents are more willing to shell out money more than others on their kids education if you get my drift. I would like to live on campus at a certain Cal State college.

My parents want me to commute to a local college so they can save money. Is there any way around this? Basically I cannot go away to college because my parents make too much money?

Any personal information would help. I know there is a lot of info out there but I have never filed for financial aid before.


Thanks.

nah i'm on it now. you wont get as much as someone who's piss poor. but you will still be able to get it paid for.

[chrstrm]

you will qualify for loans. you will not qualify for grants. if government loans are not enough, you can get sallie mae loans.

get that fafsa in ASAP. i always turned mine late. i got my loans, just a few weeks after i should have. :-)