<p>My parents want to delay filing the tax returns for this year because they feel that we wont get any financial aid anyways, but does USC require all those financial aid forms to be completed in order to receive loans?</p>
<p>My parents' combined income is around 300k.</p>
<p>To get up to $5,500 in Stafford unsubsidized loans your first year, you only need to file the FAFSA - the CSS/Profile is not required. In addition, Parent PLUS loans are offered if you file the FAFSA, which can be for the COA less any aid (such as the Stafford) - so as much as $50,000+.</p>
<p>The student takes out the Stafford and does not have to qualify for the loan. The current rate is 6.8%. Parents must qualify for the Parent Plus loans, but the qualification is somewhat “easier” than for private loans. The Parent PLUS is currently at 7.9%. If a parent does not qualify for a Parent PLUS, the student is automatically eligible for an additional $4,000 in Stafford.</p>
<p>In many cases, families at your income level have access to lower-cost financing such as home equity lines of credit or other private financing. You might want to investigate some of those opportunities as before securing a 7.9% loan.</p>
<p>You can file the FAFSA now and then update when your parents file their taxes. If they do so before August you should have the loans in time for school. If they file later, you can still get the loans, they will just be later in the semester.</p>
<p>Good luck!</p>
<p>Thanks a lot alememom!</p>
<p>Info on Staffords: [Subsidized</a> and Unsubsidized Loans | Federal Student Aid](<a href=“http://studentaid.ed.gov/types/loans/subsidized-unsubsidized]Subsidized”>http://studentaid.ed.gov/types/loans/subsidized-unsubsidized)
Parent PLUS: [PLUS</a> Loans | Federal Student Aid](<a href=“http://studentaid.ed.gov/types/loans/plus]PLUS”>http://studentaid.ed.gov/types/loans/plus)</p>