<p>I have a big problem here, I would be eligible for aid (pell grant) without mentioning my dad's pension of 11k, yet with it I won't get any aid at all. The thing is, my mom is considering bankruptcy and it looks like we have a lot of money on our fafsa, but they're using it to pay of years and years of credit debt. We live paycheck to paycheck with an income with my dad's pension of around 75k, without it'd be 64k and I'd qualify for some aid. </p>
<p>My parents aren't contributing any to my education, maybe at most, 5k. </p>
<p>Should I still add in the loan knowing that I wouldn't get any aid with it? The college I'm going to is around 45k per year (expensive, but a top school nonetheless).</p>
<p>If the pension is part of your parent's income there is nothing you can do about it. it is income like any other income and us treated the same. The only Pension income that does not have to be reported on FAFSA is non taxable federal SS pension (and that is new this year, previous years it had to be reported). </p>
<p>Even with a $64k income I would be extremely surprised if you qualify for any Pell grant. What makes you think you would?</p>
<p>The pension is from my dad's veteran retirement. </p>
<p>Even if it were 64k, it'd still allow me to get some state grants like the calgrant or maybe even 1k from pell grant or more from the school scholarships that they give out.</p>
<p>Your EFC would have to be very low to get any Pell. Last year below 4042 (this year we don't know yet). A $64k income would normally mean an EFC quite a bit higher than that.</p>
<p>Even if it were 64k, it'd still allow me to get some state grants like the calgrant or maybe even 1k from pell grant or more from the school scholarships that they give out.</p>
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<p>$64k is too high for a Pell grant. Beyond that fact, though ... wouldn't we ALL like to get Pell or need-based grants? The fact is, the line is drawn for a reason ... there is no money tree in the backyard. Funding for college is limited & therefore is targeted to the poorest in order to allow them access to education that they wouldn't otherwise have.</p>
<p>It's not easy to accept, but it does make sense from a logical standpoint.</p>