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Post by sunnyd on Mar 3, 2015 8:24:11 GMT
If you are a single dependent student, age 20, with 2 income earning parents, is there ever a chance of getting free money or grants through FAFSA?
If you are a married student, age 20, with a spouse who makes a decent income (and have no children) is there ever a chance of getting free money or grants through FAFSA?
I'm just wondering who gets grants?
TIA!
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Post by Basket1lady on Mar 3, 2015 8:33:53 GMT
I attended a meeting at the school two years ago. At that time, they said that the cut off for any aid was a household earning over $75,000 with one college student.
We are fortunate to earn more than that, but paying for college won't be easy. DS earned several merit based scholarships at most of the school's he applied to (some, like Notre Dame, only give need based scholarships). He has applied for every scholarship we can find that he qualifies for. I'm so tired of editing essays! But even the smaller scholarships will buy a book or two.
When you fill out the FAFSA, it gives your estimated family contribution. It's fairly quick to fill out and you can fill it out without actually applying to a school.
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ingrid
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Jun 26, 2014 0:52:41 GMT
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Post by ingrid on Mar 3, 2015 8:37:09 GMT
It totally depends on where you live and which school you're applying to.
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Post by happymom on Mar 3, 2015 12:23:00 GMT
Fafsa doesn't depend on where you live. It is a federal document and it doesn't give you money. It says what you are eligible for.
If the student was in high school. Qualifying for free/reduced lunch is an indication.
Other than that I thought family of 4, 2 kids in high school and less than 60,000 with few assets would get you a pell grant. (Federal) Divorced parents and owning a business or rental properties will affect the numbers. Colleges may offer their own grants and work study but the qualifiers may be different.
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mallie
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Post by mallie on Mar 3, 2015 12:31:51 GMT
If you are a single dependent student, age 20, with 2 income earning parents, is there ever a chance of getting free money or grants through FAFSA? If you are a married student, age 20, with a spouse who makes a decent income (and have no children) is there ever a chance of getting free money or grants through FAFSA? I'm just wondering who gets grants? TIA! My coworker's son who is married still had to have his parents fill out a FAFSA. Apparently since he was under 25, it was still required. The regulations assume that if you are under 25, that your parents are contributing to paying for college. (It's very different from when I went to college, was not a dependent, and could declare -- truthfully -- that my parents were giving me nothing and I got more money than when I was their dependent. That system is gone.) Exactly. And that eligibility includes loans-- be very careful when reading the letters telling you of the potential $ from a school because that amount includes LOANS. As an example, one of my girls was told from the recruiter that she was getting X amount in "aid". I told her not to get excited until she got the letter because recruiters are often misleading. Sure enough, X amount was ALL loans. And moreover, since we were over the cutoff, those loans were not the standard loans because if you are over the cutoff for grants, the student may also be ineligible for the standard student loans. Different colleges and different state systems are more or less generous depending on their priorities. Do not assume that an excellent, top of the trees scholastic record = money from your state school.
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AmeliaBloomer
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Jun 26, 2014 5:01:45 GMT
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Post by AmeliaBloomer on Mar 3, 2015 13:41:47 GMT
Dependent v. Independent Students
This article has some income tables
Independence if younger than age 24The income tables include all awards (grants, loans, probably work study), so doesn't specifically address your question. As others have indicated, it all depends on the type/cost of school. Also, remember that any merit aid makes need-based awards lower. And it appears - from the other two links - that you can be married and 20 and independent if you married by Dec 30 of award year. Of course, spouse's income would be included then. I hope I'm reading this right. I had another link that said the married-before-Dec-30 part, but I lost it.
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Deleted
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May 7, 2024 18:29:59 GMT
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Post by Deleted on Mar 3, 2015 13:59:39 GMT
According to the charts in the second article linked above, a family earning $240,000 annually would qualify for some need-based aid at elite (read: most expensive) private schools.
So, you don't have to be "broke" to be eligible for some aid. That aid may be loans, though (although it's worth remembering that more of the top tier schools have no-loan policies).
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Post by hop2 on Mar 3, 2015 14:00:37 GMT
If you live in a populated area ( ie like the NY metro area, urban cal, DC etc ) where housing costs are higher, you have to nearly be choosing between housing and food to have the FAFSA say you qualify for NEED based aid. The problem is that the FAFSA calculations are sort of based on the federal poverty level ( with other factors added in) and those numbers haven't been updated in forever. Nor do they fully account for living expenses related to location.
However, as bogus as it seems always fill the darn thing out. It can only be filled out once per year and if a catastrophe hapoens you can't go fill it out mud year. You CAN modify one you already had though. And if something did happen the financial aid office can help your child navigate thru the changes needed. If you haven't filled it out they may not be able to help your child until the next year.
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raindancer
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Post by raindancer on Mar 3, 2015 14:05:40 GMT
According to the charts in the second article linked above, a family earning $240,000 annually would qualify for some need-based aid at elite (read: most expensive) private schools. So, you don't have to be "broke" to be eligible for some aid. That aid may be loans, though (although it's worth remembering that more of the top tier schools have no-loan policies). I qualify for "need based aid" but only in the form of non-subsidized loans. We make far less than $240K per year, and I have never in 5 years qualified for anything else. The subsidized loans and grants are withheld for those who truly have need. (I'm not complaining, I appreciate what I get, but I do pay interest throughout from day 1)
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peppermintpatty
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Jun 26, 2014 17:47:08 GMT
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Post by peppermintpatty on Mar 3, 2015 14:08:33 GMT
Yeah, living in the DC area and making what would be considered an upper class salary in many parts of the country are actually lower middle class here. It bugs the crap out of me that we can't afford to send our kids to college without loans that will take 20 plus years to pay off but families who live in less expensive areas and make the same money can afford to send their kids no problem. I wish they would take into consideration the cost of living.
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Post by myboysnme on Mar 3, 2015 14:13:17 GMT
My sons have only qualified for subsidized loans until this year when oldest son turns 24 and he qualifies on his own. Since he is unemployed, we are hoping for grants and work study.
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Peamac
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Jun 26, 2014 0:09:18 GMT
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Post by Peamac on Mar 3, 2015 14:16:22 GMT
What about grad students? DD#1 is in grad school out of state, works very part-time. She's 22. I really don't want to have to dothe fafsa again, b/c with dh being self-employed, etc, etc itseems to take forever!
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Post by jeremysgirl on Mar 3, 2015 14:23:03 GMT
Grad students are not eligible for grants at all. It's only loans for grad school.
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luvnlifelady
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Post by luvnlifelady on Mar 3, 2015 14:44:36 GMT
I filled it out for DD this year. I'm hoping we get something. Even though she will be a JC, she will still have housing costs (it's 6-7 hours away).
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Deleted
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May 7, 2024 18:29:59 GMT
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Post by Deleted on Mar 3, 2015 14:48:00 GMT
What about grad students? DD#1 is in grad school out of state, works very part-time. She's 22. I really don't want to have to dothe fafsa again, b/c with dh being self-employed, etc, etc itseems to take forever! In our experience when our daughter applied for grad school, it was optional to add our income, which she did not. And her expected contribution was $0...so she qualified for more $$$
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teddyw
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Post by teddyw on Mar 3, 2015 14:50:54 GMT
They also want proof that your child is not your dependent if they are trying to file independent.
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Post by anonrefugee on Mar 3, 2015 14:51:16 GMT
We're not there yet, so I'm always learning from these threads. Thank you. Our savings have taken a hit, but (thankfully) we still have retirement funds. ive read different things, are retirement (401k, IRA, etc) included in your financial summary?
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Post by iamkristinl16 on Mar 3, 2015 14:56:27 GMT
Yeah, living in the DC area and making what would be considered an upper class salary in many parts of the country are actually lower middle class here. It bugs the crap out of me that we can't afford to send our kids to college without loans that will take 20 plus years to pay off but families who live in less expensive areas and make the same money can afford to send their kids no problem. I wish they would take into consideration the cost of living. I assume that salary for a comparable job in another area would be less as well.
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peppermintpatty
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Post by peppermintpatty on Mar 3, 2015 16:48:18 GMT
Yeah, living in the DC area and making what would be considered an upper class salary in many parts of the country are actually lower middle class here. It bugs the crap out of me that we can't afford to send our kids to college without loans that will take 20 plus years to pay off but families who live in less expensive areas and make the same money can afford to send their kids no problem. I wish they would take into consideration the cost of living. I assume that salary for a comparable job in another area would be less as well. I'm not talking about the job, I am talking about the actual dollar amount of the pay. To be honest, I haven't seen that much of a difference in dh's company between DC and the other locations. The other locations are cheaper to live.
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peppermintpatty
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Post by peppermintpatty on Mar 3, 2015 16:50:01 GMT
We're not there yet, so I'm always learning from these threads. Thank you. Our savings have taken a hit, but (thankfully) we still have retirement funds. ive read different things, are retirement (401k, IRA, etc) included in your financial summary? There are 2 different forms. I can't remember the name of the other one which may be required for a specific college. That one requires a lot more information such as retirement, etc. BUT you supposedly get more money from that form. If I recall, FAFSA doesn't require your investment information.
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Post by Basket1lady on Mar 3, 2015 16:57:04 GMT
Yeah, living in the DC area and making what would be considered an upper class salary in many parts of the country are actually lower middle class here. It bugs the crap out of me that we can't afford to send our kids to college without loans that will take 20 plus years to pay off but families who live in less expensive areas and make the same money can afford to send their kids no problem. I wish they would take into consideration the cost of living. I assume that salary for a comparable job in another area would be less as well. Not necessarily. DH is active duty Air Force. He makes the same whether we live in middle America or DC. He does get more housing for more expensive areas, but that only covers 80% of the costs. He is a Colonel and his housing allowance doesn't even get him a house with a garage inside the Beltway. So he has a huge commute, daily. Not to mention that in 25 years, we have lived in some of the most expensive cities in the world. It has definitely impacted how much we could save from assignment to assignment. Making $60,000 in Minneapolis is much different that making $60,000 in DC.
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Deleted
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May 7, 2024 18:29:59 GMT
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Post by Deleted on Mar 3, 2015 16:58:39 GMT
We're not there yet, so I'm always learning from these threads. Thank you. Our savings have taken a hit, but (thankfully) we still have retirement funds. ive read different things, are retirement (401k, IRA, etc) included in your financial summary? Retirement funds are not available to use to pay for college, so having funds in retirement accounts will not negatively affect your expected family contribution calculation.
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Deleted
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Post by Deleted on Mar 3, 2015 17:03:16 GMT
If you are a single dependent student, age 20, with 2 income earning parents, is there ever a chance of getting free money or grants through FAFSA? It will also depend on how many siblings are in the picture.
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MerryMom
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Post by MerryMom on Mar 3, 2015 17:09:56 GMT
The OP was asking about grants (such as Pell grants), the FAFSA eligibility for financial aid includes student loans). Grants usually are awarded for those with "exceptional financial need" and the annual income is WAY less than $75,000 a year income. For Pell grants, Up to $5,730. Federal Supplemental Educational Opportunity Grant (FSEOG), Up to $4,000 Try the FAFSA4caster fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1 For 2 parent, 3 person household with combined income of $ 45,000 a year>>>> pell grant of $2680 For 1 parent, 2 person household with income of $ 45,000 a year>>>> pell grant of $2080 For 1 parent, 2 person household with income of $ 35,000 a year>>>> pell grant of $3680 For 1 parent, 2 person household with income of $ 30,000 a year>>>> pell grant of $4580
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Deleted
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May 7, 2024 18:29:59 GMT
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Post by Deleted on Mar 3, 2015 17:13:54 GMT
The OP was asking about grants (such as Pell grants), the FAFSA eligibility for financial aid includes student loans). Grants usually are awarded for those with "exceptional financial need" and the annual income is WAY less than $75,000 a year income. For Pell grants, Up to $5,730. Federal Supplemental Educational Opportunity Grant (FSEOG), Up to $4,000 Try the FAFSA4caster fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1 But individual schools also award need-based grants based on the results of FAFSA and, depending on the school and the family specifics, can be awarded to students with family income well above $75,000. That's why it's not that uncommon for highly competitive, highly endowed "elite" schools (many of which have policies against meeting student need with student loans) to actually be less expensive to attend for students with financial need than middle tier or even public universities. Federal money isn't the only non-scholarship "free" money out there.
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MerryMom
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Post by MerryMom on Mar 3, 2015 17:17:18 GMT
The OP was asking about grants (such as Pell grants), the FAFSA eligibility for financial aid includes student loans). Grants usually are awarded for those with "exceptional financial need" and the annual income is WAY less than $75,000 a year income. For Pell grants, Up to $5,730. Federal Supplemental Educational Opportunity Grant (FSEOG), Up to $4,000 Try the FAFSA4caster fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1 But individual schools also award need-based grants based on the results of FAFSA and, depending on the school and the family specifics, can be awarded to students with family income well above $75,000. That's why it's not that uncommon for highly competitive, highly endowed "elite" schools (many of which have policies against meeting student need with student loans) to actually be less expensive to attend for students with financial need than middle tier or even public universities. Federal money isn't the only non-scholarship "free" money out there. BusyPea, That's why I specifically mentioned Pell Grants. No one would be able to answer "grant amounts" for specific colleges/universities, except of course for the university/college financial aid office.
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Deleted
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May 7, 2024 18:29:59 GMT
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Post by Deleted on Mar 3, 2015 17:20:58 GMT
But individual schools also award need-based grants based on the results of FAFSA and, depending on the school and the family specifics, can be awarded to students with family income well above $75,000. That's why it's not that uncommon for highly competitive, highly endowed "elite" schools (many of which have policies against meeting student need with student loans) to actually be less expensive to attend for students with financial need than middle tier or even public universities. Federal money isn't the only non-scholarship "free" money out there. That's why I specifically mentioned Pell Grants. No one would be able to answer "grant amounts" for specific colleges/universities. Right... but I don't think the OP cares where the "free" money comes from. She just wants to know if there's a chance. And sometimes, families do themselves a disservice by thinking they can only look at the least expensive ("sticker price") schools, because they may actually be able to send their student to a more expensive school but actually have a lower actual cost. There are just so many moving parts and so many things to consider to come to the true cost of attending college.
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Post by jenb72 on Mar 3, 2015 17:28:04 GMT
When I was first married to my ex and we both had jobs (and one kid), but very little income, we both qualified for pell grants. But that was 20 yrs ago, so I don't know how much the equations may have changed since then.
Jen
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melissa
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Post by melissa on Mar 3, 2015 17:33:53 GMT
Keep in mind that while FAFSA determines federal eligibility, things like cost of living do come into play when it comes to aid from the college.
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Post by pretzels on Mar 3, 2015 17:41:26 GMT
I got a Texas Public Education Grant for my first two semesters of college. I was 18, lived at home with my parents, had two brothers and a sister, and my mother did not work outside the home. The next time I applied for financial aid, my mother had started working outside the home, and I was no longer eligible for those kinds of things. I paid for the rest of my college education by myself.
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