<p>Please don’t feed the ■■■■■■ (1st post and everything).</p>
<p>I have a freshman and a sophmore in college, a cost to me of $51,000 with tuition, room and board, books and misc expenses. That $51,000 per year isn’t what I had to make as I have to pay taxes on my income, therefore I needed to make $78,000 just to net that amount! I’m a small business owner of an LLC and any “income” thru my business is reflected on my taxes. I took a business loan out 9 years ago and was only paying interest on. At the time I took the loan, I got to write off that amount as a loss (something I needed to do as I could barely pay myself any salary). Now the business is finally paying back the principle and this is considered “income” to me even though I write a check each month to the bank. Certain expenses thru my business aren’t fully deductible either, and therefore, qualify as income even though I paid it to a vendor, bank, etc. As a single mom, I no longer can contribute to my 401k, put any money in savings, and, at this point, I’m living month to month. Before you speak about how “rich” someone else is, you should go to school yourself and understand what qualifies to everyone as “income” on their tax returns!</p>
<p>What I find interesting is most people spread their children out over at least 4 years so they won’t be in college at the same time. When in reality if may be better to have them in college at the same time. It could cut your COA in half if your EFC is used to fund both of them at the same time. I see some logic in the fact that the calculations are based on what is happening NOW - and they don’t know for a fact that younger kids will go to college. But wouldn’t it be great to live in a country that assumed EVERY young adult would go to college. I can tell you with 99% certainty that my youngest child (who will enter college 4 years after my oldest) WILL be going to college. I would even be willing to swear to that fact and pay the government back it if didn’t happen.</p>
<p>I have a freshman and a sophmore in college, a cost to me of $51,000 with tuition, room and board, books and misc expenses. That $51,000 per year isn’t what I had to make as I have to pay taxes on my income, therefore I needed to make $78,000 just to net that amount! I’m a small business owner of an LLC and any “income” thru my business is reflected on my taxes. I took a business loan out 9 years ago and was only paying interest on. At the time I took the loan, I got to write off that amount as a loss (something I needed to do as I could barely pay myself any salary). Now the business is finally paying back the principle and this is considered “income” to me even though I write a check each month to the bank. Certain expenses thru my business aren’t fully deductible either, and therefore, qualify as income even though I paid it to a vendor, bank, etc. As a single mom, I no longer can contribute to my 401k, put any money in savings, and, at this point, I’m living month to month. Before you speak about how “rich” someone else is, you should go to school yourself and understand what qualifies to everyone as “income” on their tax returns! I’m sure I net far less than you do and am worth less on my net assets at this time! BTW, I didn’t chose to pay down the principal of the business bank note, the small business I own isn’t doing very well in this economy. It was the bank that required I start making principle payments or they would shut the business down by recalling the entire note altogether. I doubt most of you would like to trade positions with me and work 6 days a week for the possibility of getting paid only when everyone else has been paid. You people are clueless to the realities of the system.</p>
<p>They made $500k LAST year. Trust me, suddenly unemployed parents who must support college expenses and a mortgage at prestigious schools and on a house that you’d expect to find someone with that income in aren’t being greedy.
College is ridiculously expensive in America. It really isn’t a fair system and neither is the system of receiving aid. I doubt the OP will get aid but that doesn’t mean that they shouldn’t nor does their asking merit some of the comments on this thread.</p>
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<p>PG, in some areas of CA the majority of houses have pools. It’s a luxury to have a pool added on, and it’s also a “luxury” to get an existing one filled in.</p>
<p>Wow FAFSA kind of sucks. 
I guess its all right for me; i was a bit upset when they said my EFC was 50k a year but i mean, I guess I have to apply for merit scholarships and get a few jobs in college. And it means that i cant go to any ivies because of financial reasons. Even if my EFC is 50k, I want to pay my parents back. Its not fair to take that much money. imo fafsa, welfare and the such is crappy because it pretty much discourages hard work on the parents part.
However, take the case of a friend of mine, whose parents make >200k (combined) a year. However, they are not willing to pay a single cent of his college education, while charging his a portion of his monthly salary while he lives with them. (aka no community college). Sucks cause he’s crazy smart and has to settle for a lower college giving him a full ride.
Does fafsa give loans?</p>
<p>You tell me, is it fair that the “rich” student has to work two/three jobs in college while the “poor” student gets a free ticket and gets to do whatever the want. Best thing would be for everyone to have to work in college, both rich and poor, and cut down college costs.</p>
<p>Chocolate, if you file FAFSA you are eligible for Stafford loans. The rate is 6.8%, payments start 6 months after you graduate or drop below half-time attendance, and the loan limts are $5500 for freshmen, $6500 for sophomores, and $7500 for juniors/seniors.</p>
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<p>You are seriously overestimating the amount of aid that’s given to most low-income students. The max Pell grant is $5550 this year, they are eligible for SEOG (but that’s often only a few hundered per year), and state aid is pretty limited as well. Federal work study may be available, but that is simply an on-campus job! Very few low-income students have an easy time affording college and many work long hours and take larger than average loans. Studies have consistently shown that it takes fewer Pell recipients will finish college within the normal timeframe. Their choices are often severely constrained by cost. Believe me, having money to pay for college and having family resources to fall back on in a pinch is much better.</p>
<p>Is it fair that the rich kid gets money handed to him while the poor kid has to work 2-3 jobs in high school?</p>
<p>Erin’s Dad,</p>
<p>is it fair that my dad makes 300,000+ and I have had to work through high school to pay for myself? Or that they won’t pay for my college education?</p>
<p>Is it fair that I automatically won’t qualify for aid because I’m a dependent, yet those who I “depend” on refuse to help me out?</p>
<p>Life is not fair. That’s between you and your parents. Have you asked them why?</p>
<p>^^ Nope, no more than the kid like me who works 2-3 jobs to support myself and my family. As Erin’s Dad said, life’s not fair. </p>
<p>However, the system is designed to help those who have absolutely no help. I have none- my family has none- so the government helps. You have the resources, but your dad won’t help- different situation. The government can’t force your family to pay, but they DO have the resources to pay. It’s a sucky situation to be in, but it happens. The government isn’t responsible for making your parents pay though. I wish they could be though.</p>
<p>That would be rough going though. Even if college attendance was compulsory, what happens if the kid wants to attend NYU and the parent is thinking more along the lines of CUNY or SUNY? Or what happens if the parents think that the kid is going to screw around and blow the opportunity? Sometimes they’re being unreasonable, but sometimes there are serious concerns (doing poorly in high school, for example) that suggest that going away to college – especially a really expensive college – might be a poor investment presently. That’s not to say that there aren’t kids who get screwed because their parents just refuse to help for no good reason though.</p>
<p>Are you serious?! Nobody should by paying, directly or indirectly, for anyone’s education, except what our districts have already decided is fair from our property taxes. Your concept that because I studied hard, and worked hard, and paid my way through school so I could have an income above the median family, and that for that I should have to help pay your child’s tuition is ridiculous. Pay your own child’s tuition. If you can’t … guess what … work! Let’s get real … I live in Florida - one of the states with the highest unemployment rate - students are able to find jobs. And if they absolutely cannot get a job (unlikely, more likely they don’t want to work for minimum wage at a fast food place) they can ask for “professional judgement” state they suppport themselves and at this time they are unemployed, and they will get grants and definitely loans, which they can pay back themselves when they graduate.<br>
To think that I have to pay the tuition of a college student who is more likely to have many sleepless drunk nights, be more preoccupied with their looks and need to go to the mall every weekend to shop, and drop out of collee makes me furious.<br>
Sure say, “I’m not like that” or “My child is not like that”, but I was there and I am still there, that is what MOST college students do.
The truth is…if you want it you can get it yourself. I did. My husband did. And my child will.</p>
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If unemployment is high, how can a student be expected to get a job, when students that can only work part-time have to compete with experienced adults who can work full-time? I couldn’t get a job in Florida, even a minimum wage one. My family just moved because my father couldn’t find a job in Florida as a captain and is working in NY Harbor now. A captain. In Florida. With over a decade of experience. That shows the state of things.</p>
<p>Many people told me my parents made too much and it didn’t matter that I didn’t live with them. LIES!!!</p>
<p>I found out a few things… 1. You are independent (meaning parents income doesn’t matter) if you are 25 years old or older. 2. Professional Judgement - if your tax info entered in the fafsa is not currently true (you make less, parents make less) ask to get one. The key is you have to ask and they may try to tell you it still won’t matter, but do it anyway. </p>
<p>Hopefully this helps!</p>
<p>EVEN with the high unemployment rates they ARE able to get jobs. Maybe your father didn’t want to work at a job he felt was beneath his “captain” status. That’s the problem with many people these days, they think they are too good to work certain jobs (funny, yet we don’t want anyone else from another country to come in and work them). Also, it’s interesting that you mention recently, because recently (6 weeks ago) my mother found a job after being laid off and is now getting paid $14/hr at a well known banking company (Oh, just in case you’re wondering - no college degree required). But my mom humbled herself by accepting a non-management position. My younger sister is more of a part-time worker, doesn’t have an extensive or good work history, yet was also able to find multiple jobs within the past year. Fits the profile of the typical college student.</p>
<p>People, let’s stop making excuses. We are forgetting there was always an unemployment rate, which is below 9% at this time. I know for a fact many people on unemployment are not giving it their all. Yes, there are SOME, but not all.</p>
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He’s also a carpenter, builds kitchens, and used to be an artist. No jobs there, either. Not even at Home Depot. Further, a crippling work injury limits what sort of jobs he can work. And yes, the captain job he accepted in NY Harbor is below his station/experience, yet he never complained. If someone has a trade skill, I don’t see why they shouldn’t be looking for jobs in their field. You can’t support a family on a McDonald’s salary, you know. But thank you for making assumptions without knowledge of the situation. You seem like a really nice person.</p>
<p>For the rest of your post, I would like to point out that statistics, trends, and facts are not overruled by your anecdotes.</p>
<p>It is very tough for those families who do not have the money available to pay for college and are not in a good position to take out loans. Throw in an economy where jobs are scarce, though the situation is getting a bit better, and college becomes a luxury. It just is not a first priority for a family with members that have daily living needs.</p>
<p>For those whose parents are unemployed or underemployed as compared to their 2010 tax return situations, let each of the financial aid offices know, since the parents may qualify for dislocated worker designation which could drastically change the FAFSA. </p>
<p>Bear in mind, however, that the way our system is set up, there is an attempt to make a college education for all high school graduates, but that is through the local and community state colleges that usually cost around $5K a semester full time. That can be covered, at least in part by PELL for those who are in the lowest income brackets, and anyone else can borrow with subsidies, if there is need, and without if not, according to FAFSA standards and come pretty danged close to covering the cost of that education. Won’t pay for the sleep away part and other camp activities, but the education is there. And,yes, some areas have better options than others in the choice of colleges, just as some k-12 school districts are better than others. You’ve really hit the jackpot if you live close enough to commute to a major state school. Pittsburgers have it made, in my book, for example, with Pitt right there for kids as a commuter school–after comm college if the tuition is of range. </p>
<p>Otherwise you have to get a scholarship from the school itself. If they want you enough, they will pay accordingly through financial aid if your numbers meet need standards and merit otherwise. </p>
<p>Jobs for kids is also something that I think should be started at a young age. There are areas where jobs are scarce. If there are no jobs, then find some community service work. Check out any possibilities of spending the summer with relatives who live somewhere that has work. I know my MIL comes from a depressed area,yet my guys snapped up jobs there in an instant which really shut up a bunch of relatives some summers ago. Their kids followed suit, but didn’t stick it out, and now I don’t hear a word about not being able to find work there. One cousin is working in a nursing home right now weekends and full time this summer. Not a great job to him, but it pays min wage and his parents can put a small nest egg for him that has paid for his applications and will be paying for all of his deposits as well senior year stuff. But if there truly are absolutely no jobs, then you find stuff to do that don’t cost money, save money for your family like work around the house, and enhance your resume. Collect bottles for cash, clean up your neighborhood, have a garage sale, offer baby sitting pet sitting, helping hands. That goes a long way in areas where money is short and people need some helpl but can’t afford to pay a service–they do it themselves but get some helping hands from high school or even younger kids. You might not make more than a few bucks, but you make yourself useful in the neighborhood. Even the most deprived areas have a buck or two to tip a neighbor kid who shovels the walkway unasked, or offers to help when someone is painting a house or doing some other property work, and that looks very good on the resume that you do this. There was a time in close communities it was done as a matter of course with no thought of getting anything out of this. Can’t work for pay, then do it as a favor and sometimes you’ll get a tip as well as gratitude.</p>
<p>Now THIS is what I call a perennial topic! This thread dates back to 2005!</p>