Loophole?

Hello! I have a problem and they go by “student loans”. At 19, I’m living on my own (qualifying as homeless, I live with friends or extended family), not on my parents’ insurance, have my own job and income and not in their household, and not affiliated with them at all. They WILL NOT sign any student loans (I have to have a cosigner for literally everything). I am not considered independent unless they are dead, I’m pregnant of married, I was in foster care, active duty military, or on my own before 18. I tried going into the military but I have a heart issue where I pass out and that was a bust. I’m not getting married or pregnant just to sign my own loans.

Any ideas on how to get a loan? I can’t pay $47,000 for my private school out of pocket. Thanks!

There must be some way for you to be able to be declared independent! I hope someone else with more knowledge will chime in.

Nope, you understand the rules. They need to fill out FAFSA for you to get federal loans. And you need an adult cosigner for any private loans. I’d suggest you make up with them. Or attend community college now, and finish up at age 24 when you can apply independently for FA. You shouldn’t borrow $47K per year (or anywhere near that) regardless.

You can be considered independent if you are homeless. Read the last item in the list for independent/dependent status and if it applies to you then you should contact your financial aid office. They can use something called “Professional Judgement” to declare you independent.

However that only means that you can borrow at a slightly higher rate than the federal direct/stafford loan. $10,5k for freshman year. Just because you are independent I don’t think anyone will lend you any funds anyway.

Bottom line If your private schools isn’t giving to aid that lets you attend for that amount, then the college is not affordable for you and you will need to find another one. That is far, far to expensive to the point of absurdity. Even people who are still with their parents can’t usually pay that unless the parent saved a good chunk of it over the years.

I’ll bite. Even IF you gain independent status for financial aid purposes, all,that will get you is the Direct Loan of $5500 for freshman year plus an additional $4000 in Direct Loans for the year, plus any amount of the Pell Grant you are entitled to. The Max is about $5800.

So…your total,there would be $15,300…still leaving you quite shirt on the costs of a $47,000 a year school.

You need to consider college options that are less costly. $47,000 is unaffordable for you.

What are your test scores? Are you eligible for a merit scholarship?

According to this post http://talk.collegeconfidential.com/discussion/comment/19704417/#Comment_19704417 , you are already in college and considering transferring. How did you fund this year’s college education?

Your problem is not your parents- your problem is that this school is too expensive for you.

Are you estranged from your parents or is it just that they won’t co-sign loans? Frankly, I wouldn’t co-sign $47,000 of loans for my child either. And even if you were independent, you’d still need a co-signer for everything other than the federal loans because you don’t have the income or assets to repay the loans yourself. Agree with others - the problem is that your school is too expensive. How much can you afford to pay per year? Are your parents contributing anything? How much is your local state school?

You’re asking for a crazy amount of loans. Won’t happen

I did one year, but withdrew for a health reason this past semester (medical withdraw didn’t mess with my grades but we did lose the money). They feel my health is too risky for investing any money. I can pay community college out of pocket, but it’s an issue with my program being competitive in all aspects like a lot of programs are, but where I want to do music, my age and years of study also matter. If I take a year or two off of lessons and other people ARE taking two years of lessons and gaining experience, then I am 2 years behind my graduating class/age group. I’m not asking for $47K in loans, I was just wondering if I could be independent on a FAFSA and base it on my income and whatnot, but looks like I cannot. I have/had a merit scholarship and a talent scholarship last year and they would still apply, but I need the loans I had in my parents’ name last year (around $3000) and still the $5000 they paid out of pocket would have to be covered. Again, I’m not asking for $47K in loans because that is insane in itself, but more around $8,000 or whatever I would need based on my personal income, not my parents’ income. Thanks for answers though!

Oh! Also, my state schools run around $25K ticket price. When I said $47K I was talking about the FULL price, not my price with aid. With aid we paid something like $8,000 combined in loans and out of pocket. The problem with going to a state school is they are far away and my current school is 3-5 minutes from my house, so I got local grants, didn’t pay housing or meal plans and had scholarships. The reason I’d have to pay that much is I didn’t know if I could do my own FAFSA based on me or if it has to be on hem. No FAFSA, zero aid.

If you are homeless there’s a clause, so have your college counselor look into that to see if you can be declared independent.
However it sounds like you’re not really homeless, you have a home (an apartment you finance yourself?)
If the ‘professional judgement ’ clause doesn’t apply then you have to have your parents’ signature for fafsa, or get married. If they apply for parent plus and are denied you get 4k.
Sounds like you qualify for partial pell and basic federal loans through fafsa. You can always accept /eefuqe parts of your family, so your parents could sign fafsa but only acdzpt pell, and refuse the loans.

I’m not sure if being “homeless” after age 18 qualifies. All 18 year olds could claim “homeless” once they move out of their parents’ homes.

If parents aren’t homeless, I don’t think this student is considered homeless.

Re post #13, you can qualify as homeless for FA purposes after 18, but it takes a lot of hoop jumping with your school. I have one friend – out of many with family problems who tried – that was able to do it.

It’s not a quick fix like many students hope or think.

I’d like to stay at the 4 Seasons. I’d like to eat at swanky restaurants. I can’t afford either and you can’t afford private school.

becoming an emancipated minor when you were one might have helped-marginally.

The homeless thing is a mess trying to get an independent status with. They list it as an option if you don’t pay rent, can’t pay rent because of whatever reason and/or don’t live with parents. I live with friends and other family so I “meet” those qualifications, but you have to have a ton of documentation. I had a letter from the head of my department at the college, one from my parents, and one from each person I’ve stayed with, but that wasn’t enough. You’d have to go through job services, or have stayed at a shelter and have documentation from that. The issue of every 18 year old would move out, drop dependent status, and claim it is huge.
Thanks again for the answers! I can’t stress enough that the private school “$47,000” price ended up being cheaper after grants and scholarships for being local, the music and merit scholarships, and not paying room and board (just not paying housing took me to in-state school level prices). I will look around for more scholarships and other places with bigger aid packages. Thanks again!

One is not considered homeless just because they no longer live with their parents.

Being homeless in and of itself will not make op independent. /he would have to be classified as an unaccompanied minor.

Op states that he lives with friends and extended family. It does not seem as if s:he lacks fixed and stable housing.

Based on situation op presented the school would except use professional judgement. If there were an irreparable separation of op’s situation with family then there op would petition for a dependency override.