<p>I started college in NJ last year.</p>
<p>Filled out the FAFSA got zero aid and zero subsidized loans and was not even allowed to work on campus as it is only open to those who get aid.</p>
<p>My parents can qualif for EIC if it is not for the pension money they have in savings accounts.</p>
<p>I do not qualify for any aid based on their pension money.</p>
<p>They paid the tuition last year. Their other investments are in the toilet right now.</p>
<p>I earned about $2200.00 in 2008.</p>
<p>I hate to ask my parents to pay again, which they will but I feel very uncomfortable seeing their situation.</p>
<p>Is there any way I can apply for FAFSA without their income coming into account?</p>
<p>What other options are there in NJ for Financial aid beside "loan shark" education loans.</p>
<p>To save money I live with my parents.</p>
<p>Any advise please.</p>
<p>First of all, you don't apply for FAFSA. You fill out a FAFSA and the resulting report is sent to you and your school(s) and the school decides what, if any, aid you are entitled to, based on the report. Secondly, you need to include your parents info because you live with them and you are their dependent, even if you are not their IRS dependent. Third, since your family's economic situation has changed, perhaps your report from FAFSA will be different than what it was in the past, and your school will give you money.</p>
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<p>maybe I'm interpreting this wrong, but are you saying that what they are saving for retirement is in a regular savings account??? or are you saying that the money they receive from a pension (like monthly payments) is in a savings account. If they are retired and they did something like take all the money out of their 401K as a lump sum distribution and put in a savings account, that was not a good thing to do as far as FAFSA would see it.</p>
<p>If you are not over 24, then you can't get away without including your parents information. Also, ANYONE can at the very least take out an Unsubsidized stafford loan. For a freshman that 5500 and for sophomore it is 6500. You don't have to show financial need to take that loan out. It's in the student's name, no cosigner, no income requirement. Interest does accrue while you are in school, but you can pay it as you go along or defer the interest until graduation.</p>