<p>Well, we’re talking assets here. Business assets exempt if family owned/controlled and less than 100 employees. Income is still income, though and assessed at up to 47% depending on amount. Whatever you take needs to be reported, however there are a lot of income-shifting strategies to increase eligibility for aid.</p>
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There is some new thing this year where if a parent refuses to file FAFSA you can file and be eligible for Stafford loans at least. But you would not be eligible for the grants such as the Pell grant. They have to sign something saying they refuse to file FAFSA and are not supporting you financially. Kelsmom had a post about it, I will see if I can find it.</p>
<p>Here it is
<a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/752597-what-can-kid-do-when-their-parent-will-not-fill-out-fafsa.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/752597-what-can-kid-do-when-their-parent-will-not-fill-out-fafsa.html</a></p>
<p>posts #6 and #9 by Nikkil and Kelsmom. It enables the student to file FAFSA without parent input and makes them able to get loans, but does not make the student eligible for federal grants.</p>
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<p>That’s one way of looking at the matter. And then if you are willing to pay full list price for the college out of your own pocket, you are fine. Some students do that by working while in school and taking loans that they repay after graduation. </p>
<p>If you would like to have taxpayer-funded financial aid for your higher education, please know that the law is that your parents have a HIGHER obligation to pay for their children’s undergraduate education than does any random taxpayer whom you have never met. If you fulfill the requirements for independent status, the law is that you can get in line to apply for taxpayer-funded financial aid just like everyone else. If you don’t meet the requirements for independent status, your parents are first in line to help you pay, BEFORE the taxpaying public in general. If you pay for everything all by yourself, you have my congratulations. If your parents help you pay, they have my congratulations. Just don’t expect taxpayers to pay for your higher education unless you meet the usual rules for independent status. </p>
<p>Good luck in your studies.</p>
<p>When I went to a private medical school over 20 years ago I was 25 and married and had been supporting myself and my (student) husband for several years, but I had to include my parents financials. </p>
<p>They’ve got the ball and they can decide if you can play.</p>
<p>TokenAdult,</p>
<p>Your post is a good description of the current approach for “tax-funded FA”. But that’s just the status quo. The real question is whether or not the status quo is valid.</p>
<p>An eighteen-year-old is an adult with parents who are not legally responsible for him/her in the eyes of our law - except when it comes to paying for college. This is hypocritical and leads to lots of dysfunctional economic consequences - exorbitant college cost inflation, debt levels among aging workers - including widespread tapping into home equite debt, and finally an unhealthy psychology between parent and child at the life juncture when the child should be breaking free of, not becoming increasingly dependent upon, the parent.</p>
<p>If parental income was not considered in setting a price of attendance, college tuition levels would be drastically lower. Allowing colleges to essentiall raid the parents’ finances just drives upward the cost to attend.</p>
<p>That’s the nature of subsidies.</p>
<p>I largely agree on the nature of subsidies, and I have great sympathy for young people whose parents don’t step up to pay for college. But economists of education, looking around the world, have noticed that college access is greatest in countries with a mixed system (like the United States) of some publicly subsidized colleges with low list price (such as a typical state university), some private colleges with a high list price, and both government and students’ families paying for college. That gets the most students in college across the broadest range of family income levels.</p>
<p>^ hmmmm . . . I buy that. Kind of like our current health care system - a big mix. Okay, maybe time to get off my high horse and make peace with the truly ridiculous check I need to write.</p>
<p>I’m mad at my parents. My dad makes over 120k and is about to get a better job. My tuition is only 1k a semester thanks to me getting myself more fin aid and they still won’t help me out. Also, I just found out that my dad just bought a new car. =/</p>
<p>For independent status you have to be either:
24 yrs old
married
on active duty or a vetern
have a child that receives more then 50% of their support from ypu
must have a dependent who lives with you not including your spouse or children who you support more than 50%
be a ward of the court, or were until you were 18
both parents must be deceased</p>
<p>In very rare instances they may make an exception, but it is for each school to decide and very hard to prove. Just because you live alone and support yourself doesn’t mean you’re independent. If that were the case,parents would be kicking their kids out of the house when they applied for college and the gov. knows that</p>
<p>“at any time since your 13th birthday, you were in out-of-home placement or a ward of the court”</p>
<p>Is this correct?
When I was 15, my parents custudy was temporary removed and I was placed at a pshyciatric ward due to anorexia. I then moved to a open state institution where I was supposed to stay for 2 years, but we appealed and I got out after only a month.
I spent a total of 7 months institutionalized.
The reason they took me to court the first time had nothing to do with abuse. It was simply because my parents where unble to care for me due to the fact that I was ill.</p>
<p>But still, my parents did not have custudy of me, they had no legal rights, and the state made every single decision - I was a ward of the state.</p>
<p>Could I qualify?</p>
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<p>Sorry to bump this up after a month of inactivity, but if the parents provide proof to the college that the student is a dependent then the college has to release educational records to the parent. </p>
<p>One of the problems with the current set up is that it extends the duration of childhood until 24, and this is unacceptable. More than likely I’ll have the title of “Dr.” within 6 months of turning 24, so I’m just grateful there’s a provision making graduate students exempt.</p>
<p>@jook
For everyone who is complaining how the system is… I understand it’s not fair and all, but if everyone qualified for free money or loans (then there would be absolutely no money to give). If your parents put you and your siblings through private school from kindergarten to the end of high school and can’t afford to put you through college shame on them. The state provides everyone with a free education… and if you don’t like the neighborhood or school then move! Moral of the story… be smarter with your money :)</p>
<p>And, I would expect for my parents who harassed me about school my whole life to help me pay for school. I would hope you, your-self or anyone reading this, would pay for their kids college tuition. </p>
<p>I do understand people are in really really terrible situations or positions, but that’s just the way it is when it comes to financial aid. </p>
<p>@openedskittles … and yes being black, Hispanic or Asian makes it alot easier to get a scholarships or even gaining admission into a schools… it’s called diversity and alot of schools like that. It’s like your only competing against your race (or that’s what I have experienced). And in most schools Caucasians make nearly 80% of the student body, good for minorities, bad for majorities. I guess that’s one good thing about being a minority is that your going to have an easier time getting into a program or getting a scholarship. Oh and it is highly unlikely for us to get sunburn.</p>