Will my mother applying for, but not accepting, a Parent PLUS Loan affect the likelihood of my request for dependency override being approved?
The same question was asked in your other thread. Why did you start another thread?
I started another thread because the question above was not answered and I believe it needed clarification. It was simply easier to ask the question in a new thread, by itself.
What makes you think you would be eligible for a dependency override from someone who is willing to apply for a Plus Loan on your behalf?
She is only allowing me to use her information if I can guarantee that she will be denied a PLUS Loan
Why do you think you’ll qualify as an independent student?
I did answer you that whether your mother will be approved for a Plus loan depended on 3 things, any default of a government loan, any bankruptcy filing in the last 5 years, any late payments in last 90 days.
I also answered that yes, if most likely will be considered that she’s supporting you, and thus you aren’t independent, if she gets a Plus loan for you, but that it’s very hard to get a dependency override anyway.
For a dependency override, you have to be able to prove and document extenuating circumstances regarding your relationship with your parent. The fact that your mom simply may not want to provide her information/support you through school might not be enough. Typically, there must be some sort of documented abuse/neglect/endangerment that can be proven by 3rd parties (CPS, doctor, psychologist). The fact that you and your mother are speaking or if she provides your housing is going to raise plenty of questions. As the other posters have asked, what makes you truly independent from your parent? (Paying all of your own expenses won’t be enough)
You have no,way of guaranteeing she will be denied a Plus.
^^You can pretty much be sure if she’s recently filed bankruptcy or is in default on another government loan.
She also doesn’t have to take the loan if she’s approved.
Guessing this student wants mom to be denied so he can get $9500 in Direct Loans.
If she’s approved, she can still reject the loan. Explain to her that, either way, she doesn’t have to borrow.
How much are you short for covering your COA? Would the extra $4k if she is turned down make the difference?
Why is the OP applying for a dependency override…and what makes the OP feel he or she might actually GET that dependency override?
Perhaps OP is confused by terminology. I don’t see that the student is actually saying he/she is applying for a dependency override. When a parent is declined for a Parent PLUS loan, the student can borrow at independent student limits … thus, the idea that the student will be independent. It’s not the same as being considered independent for financial aid purposes, but for a student with a 0 EFC, it effectively is (they already have full Pell, and with the addition of the loan at independent student borrowing levels, the aid package resembles that of an independent student).
OP, assure your mom that she will not have to borrow the loan if she is approved. If she does not sign the Master Promissory Note, the loan should never be disbursed - as an extra safeguard, if she is approved, she can write the aid office requesting that the loan be canceled. If your mom IS approved for the loan, you will not be able to borrow the higher, independent amount - but if she is not approved, you will be eligible for that higher amount. If you can help your mom understand this, she may be willing to apply for the loan (with the understanding that she will cancel the request if it is approved).
An extra note: If something goes wrong, she is approved, and somehow the school disburses the loan (again, without an MPN it should not disburse) … she can tell the school to cancel the loan right away and everything will go away … interest and origination fee (but of course, if the school applied any of it to your charges or refunded any of the money, that must be repaid!!).
@bublybop is your FAFSA EFC $0?
No, kelsmom, she said (either in this post or the other identical one) that she wanted to know if her mother applying for the Plus loan THIS year would affect her chances of getting a dependency override for next year. She didn’t like the answer to changed the question.
I didn’t see that. Then yes, applying for a PLUS this year will make it awfully hard for the student to prove there is no relationship. Of course, it will be hard to do that if there is a relationship, anyway.