<p>If my family income was 400,000 last year, could i expect to get any financial aid?</p>
<p>You can always get unsubsidized federal student loans, and your parents, if they qualify, can take out PLUS loans. Beyond that, absent truly extraordinary circumstances, I wouldn’t expect you’d receive any need-based aid.</p>
<p>Merit aid is always a possibility, though, if you apply to schools where you’d qualify for it.</p>
<p>no…why would you need aid?</p>
<p>The income “cutoff” varies with circumstance but is generally around $200,000 for a single child in college w/o outside medical expenses or other unusual financial strain.</p>
<p>FAFSA is an application that is used to determine eligibility for federal aid. $200,000 is WAY above the cutoff for federal grants. In order to qualify for full Pell a family would need to have a 0 EFC.</p>
<p>The schools that give “super aid” generally require additional information than that which is required on the FAFSA… these schools either use the Profile or have their own form. These are among some of the most difficult schools to be admitted to… Harvard, Yale, etc…</p>
<p>With a family income of $400,000 you will not qualify for any need based aid. However, if your stats are high enough you may qualify for merit aid from some schools. You will need to look for schools that offer merit aid for your stats.</p>
<p>With a family income of $400,000, why would you think you would qualify for need based aid? That is a very high family income. </p>
<p>Ask your parents about how much they can pay annually for you to attend college. </p>
<p>As noted, you will be eligible for unsubsidized stafford loans.</p>
<p>Just to put it in perspective - your family income is ten times my family income.</p>
<p>That being said, if your GPA is as good as it probably is with your good SAT scores, you should qualify for merit scholarships. Those are not based on family income. So, you will not get ait at the Ivy League schools (financial need based assistance only), there are still plenty of good schools that might give you fairly generous scholarships.</p>
<p>You’re looking at Stanford, ivies, UCLA, UFlorida, etc.</p>
<p>You will not get any aid from any of those schools. </p>
<p>are you instate for UF? Florida limits admission to OOS students. </p>
<p>*CR 720
M 730
W 720 (Essay:8 MC:72)
Total:2150
*</p>
<p>You can get merit-based scholarships from other schools if your parents won’t pay.</p>
<p>If your parents will pay for whatever school you want, then fine. </p>
<p>How much will your parents pay each year? If you don’t know, ask them.</p>
<p>You mention in another thread that your dad wants you to become a doctor or engineer. Is that an issue for payment for college?</p>
<p>It’s not the fact that they can’t afford it, they just refuse to pay for my major and the college that I want to attend 
Is there a limit to how much money I can take out in loans?</p>
<p>And if I were to go and live and work in a state for a year without my parents, would that qualify me for instate tuition?</p>
<p>No…your residency while you at an undergrad will be where your parents reside in the vast majority of cases. There are some very few places where you would be able to gain instate residency but to do so, you would have to relocate, cease ALL financial ties with your family, earn enough money to support yourself (rent, utilities, insurance, food, everything)…oh…and your parents would NOT be able to declare you on their income taxes. BUT even that doesn’t guarantee you will gain instate status.</p>
<p>Re: loans. The only loans you can get In YOUR name only are the Direct loans…unsubsidized in your family’s case. $5500 for freshman year. Any loans above that amount would require a cosigner, or your parents would need to take the loans.</p>
<p>In the VAST majority of cases it is impossible for undergrads to be independent from their parents for financial aid OR instate tuition purposes.</p>
<p>I think you need to come up with a different plan.</p>
<p>Your parents won’t pay for Stanford, the Ivies, UCLA, or the Florida schools? Why?</p>
<p>Do you have any suggestions? My parents won’t let me work during high school or during the summer and won’t pay for me to major in what I want. I also know that they wouldn’t cosign on any loans. So do I just cave and major in what THEY want me to major in?</p>
<p>You may have to compromise with your parents. Would they allow you to double major? What are you hoping to major in? What is their preference?</p>
<p>You have high stats… look for schools where you may be able to earn significant merit. There are a fee schools that may offer full tuition scholarships, but you will also be responsible for room and board. If you earned a full tuition merit scholarship in your major and took out the full federal loan do you think your parents may help cover the rest of costs? Or will they only assist you if you major in certain subjects?</p>
<p>Sent from my DROID RAZR using CC</p>
<p>It’s not the fact that they can’t afford it, they just refuse to pay for my major and the college that I want to attend Is there a limit to how much money I can take out in loans?</p>
<p>You can only borrow the following amounts:</p>
<p>frosh 5500
soph 6500
jr 7500
sr 7500</p>
<p>Obviously that’s not enough to pay for college. These limits are set because newish grads don’t earn a lot so paying back more is too difficult.</p>
<p>What is your major and what is your intended career?</p>
<p>How much do you think you’ll be earning upon graduation with your major?</p>
<p>And if I were to go and live and work in a state for a year without my parents, would that qualify me for instate tuition?</p>
<p>No, it wouldn’t. Your residency is based on where your parents live.</p>
<p>And, think about it. “Instate rates” still isn’t low enough for you to afford. Instate rate at a UC is about $32,000. You can only borrow $5500. You might be able to earn another $6k per year. That’s nowhere near enough.</p>
<p>You need to deal with your situation logically. You need at LEAST a full tuition scholarship (not instate rates). You would then have to borrow $5500 and work to pay the rest. </p>
<p>You might consider double majoring. </p>
<p>Your dad wants you to either be an engineer or a doctor. If you were premed, what major would they allow for that?</p>
<p>edited to add</p>
<p>*My dad: You need to decide what you want to do with your life within the next year. I won’t force you. I’m not like that. </p>
<p>Me: I was actually thinking of majoring in economics…</p>
<p>My dad: HAHAHAHA!!! Are you crazy?? Pick something that’s going to make you some money. Be a doctor or an engineer!</p>
<p>Me: -____________________________-*</p>
<p>Let me guess…your parents want you to be a doctor or an engineer. Right? Well…you can major in ANYTHING for permed…anything. You just also have to take the prerequisites. </p>
<p>What do YOU want to major in that is so distasteful to your parents?</p>
<p>Could you double major?</p>
<p>Mom2 will have to verify…but it seems like you could get decent merit aid at University of Alabama guaranteed. Add a Direct loan and jobs during college, and you could likely cover the costs. Will you be working this summer?</p>
<p>I’m guessing that the dad won’t allow the student to be an Econ pre-med major, because the dad won’t trust that the student won’t follow thru with becoming a doctor. </p>
<p>This is a touchy situation.</p>
<p>Yes, the student could get free tuition at Alabama if s/he applies before Dec 1st.</p>
<p>I would work out a deal with dad. I would do Econ at a school with free tuition, take the premed prereqs (to please dad), and get an agreement that he pays the rest of the costs. but, in the end, the student decides what career is best for him/her.</p>
<p>Community college if all else fails, really embarrass the 'rents then!</p>
<p>There is nothing that would guarantee this student will ever become a doctor regardless of the route he/she takes. But that is another discussion.</p>
<p>If the student does not want to have the parents dictate what he/she will be doing and the parents will withhold college funding unless the student does exactly what the parents want him/ her to do…then the student needs to find a school where financial assistance from the parents will not be necessary…period. </p>
<p>If I were a betting person, I would say these parents will only pay for “certain” colleges…too.</p>
<p>To this student…do you have a trusted family relative, friend, school counselor, or clergyman who can help you discuss your options with your parents?</p>