So my situation is interesting. First, I am currently a junior in HS and 17. My parents divorced about 5 yrs ago now. Originally, my parents were going to help me through college when they were together. Now, they are no longer together but still make a lot of money. My mom, who has full custody, has a very healthy paycheck, but in context it is not actually a lot with debt that she has. My dad has millions of dollars worth of property, but will not help with my college expenses.
So my question is, my parents make a lot of money but not able to provide. Will I still have a chance at a grant?
If you are talking about need based aid…your chances of receiving need based aid go down as your parent incime and assets go up. Your colleges will commute what your family contribution is based in your parent income and assets, not what your parents say they will pay.
When you say “healthy paycheck” what do you mean? Does she earn $100,000 a year or does she earn $50,000 a year?
Where do you hope to apply to colleges? Some colleges will use the FAFSA only and only your mim’s incime and assets will be included. Debt is not factored in at all.
Some colleges will want BOTH parents’ incomes and assets…because they use the Profile and require info from both oarents.
How much need based aid did you think you would,get?
Any chance your GPA and SAT or ACT scores could,put you in the running for merit awards?
If you’re looking at schools like Princeton and Yale, why would you think you’re a realistic candidate for those but not think you’re in the running for merit awards elsewhere?
You might be eligible,for some need based aid at Princeton…but the school does ask for non-custodial parent info via their own form.
Yale,also,requires non-custodial parent information…so,your dad’s info will be required there too,
What is GCU?
At UCLA plan to be a full pay.
At Arizona, plan to be a full pay.
USC also requires non-custodial parent information.
Pratt and Parsons don’t have a lot of aid to give out. I would,guess you would be full,pay there also, unless you get some sort of merit award based on your portfolio.
Do you have my affordable colleges on your list??
Your mom’s consumer debt will not be taken into consideration…unless it is for unreimbursed medical expenses. Is that the case? And even then…this will require you to apply for special circumstances consideration.
Each college has a net price calculator on its web site.
For schools that use only FAFSA (as indicated on their financial aid web pages), use your mother’s finances in the net price calculator. For those that use CSS Profile as well as FAFSA, use both parents’ finances in the net price calculator, unless they explicitly state that the non-custodial parent information is not required.
Realistically, if your parents contribute nothing, you need to find a net price under about $10,000 that you can use a federal direct loan ($5,500) and some work earnings to cover.
The net price calculator is not going to be accurate for this student. In addition to having divorced parents, his father owns property…and this complicates the accuracy of the net price calculators.
HI, I do not know if I am in running for any merit awards, I have not been talked to by my guidance counselor to discuss PSAT scores. I am also a D1 athlete in tennis, which is why I have chosen these schools.
Such fuzz regarding real estate probably does not matter, since even a best case net price calculator estimates using the stated custodial parental income, plus non-custodial parent assets for CSS Profile schools, is likely to show a net price far outside the range of what a student can self-fund without any parent contribution.
Also, I forgot to mention that this might complicate things as well, I currently go to a private school that is around 10k a year and have been in private school every year since Kindergarten except for 3 yrs.
Hi, my mom does not pay any of my private school costs, that is all my dad. My dad has only been agreeing to this per a court stipulation because of a legal issue he has until I turn 18 when a computer gets destroyed and he will no longer need to worry. My mom wants to but can’t due to her own debt.
Yale and princeton were just hopefuls, not counting on going there. I would of liked to transfer my 2nd year, but princeton does not except transfers. Would getting 4.0 freshman year in college help me have a chance at transferring into yale sophomore year?
I do not know on my PSAT yet, still waiting for scores.
Yale accepts very few transfer students. Plus, you woild,still need to provide your dad’s income and assets via the non-custodial parent profile form…so how would you pay for Yale?
What is your intended major? Is it art? Why Pratt and Parsons if not.
Gaining residency in California for undergraduate tuition purposes is not as easy as you think it is. There is a one year waiting period, and you cannot have moved to California just for educational purposes.
Only a few full rides may be available at your GPA (e.g. Louisiana Tech with a 32 ACT or 1400 SAT CR+M). You may be able to barely afford the following if your mother will let you continue to live at home, and home is near a community college and state university:
Community college for two years, living with your mother, working to earn money for tuition and books, taking federal direct loans ($5,500 and $6,500 the first two years) and saving that money.
UA/ASU/NAU for two years, living with your mother, working to earn money, taking federal direct loans ($7,500 for junior and senior years), and using the saved money from the previous federal direct loans to cover tuition and books.
If you somehow do manage to get California residency and can live with your father near a community college and state university in California, you can do the above there as well.