<p>Alright, so I live with my mother, and she makes no money whatsoever--she is attempting to start a business, so she has no "real" job, and she is also going back to school herself.
My dad, however, has well-paying job. But again, I'm not his dependent (or whatever?).
So my question is, will schools only look at my mother's income when determining financial need, or will they look at my father as well? I don't think my dad is actually able/willing to pay for an expensive college tuition, so I obviously want as much financial aid as I can possibly get...and I don't really understand how everything works yet.
Thanks!</p>
<p>From what I know, they’ll look at both of your parents’ financial situations…divorced or not.</p>
<p>There are two basic kinds of financial information forms that colleges require: FAFSA and CSS Profile.</p>
<p>Some schools use only FAFSA; some used both FAFSA and Profile. Still others use FAFSA and their own financial aid form.</p>
<p>State universities and some privates use FAFSA alone.</p>
<p>FAFSA considers only the income and assets of your custodial parent. (That would be your mother.) After you complete the FAFSA, you will get a EFC (Expected Family Contribution). EFC is MINIMUM amount you’ll be expected to pay for college.</p>
<p>FAFSA qualifies you for federal financial aid–a Pell Grant if your income is below a certain threshold, Stafford loans and work-study if your college determines you have “need”. (Cost of Attendance - EFC =need)</p>
<p>The FAFSA may be used by some states to determine your eligibility for state education grants. (Most states do NOT have grant programs.)</p>
<p>Most FAFSA-only schools do not much money to give for financial aid–generally only federal aid.</p>
<p>Many private universities (particularly those who give the most financial aid) used both FAFSA and Profile (or their own FA form). The Profile will require detailed financial information from both your parents–your custodial and non-custodial parent. Unless there are exceptional circumstances which you can document, the college will expect your non-custodial parent to contribute money to your education.</p>
<p>Most Profile schools require only the custodial parent’s information. Only about a third ask for non-custodial parents to supply income and asset data.</p>
<p><a href=“https://profileonline.collegeboard.com/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv[/url]”>https://profileonline.collegeboard.com/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv</a></p>
<p>If you choose your colleges carefully, you can apply to only those that require your mother’s information. Even then, as noted above, your need most likely will not be completely met with financial aid.</p>
<p>The catch to all of this is that the most generous school tend to use PROFILE and also tend to want both parents’ fianancial statements. </p>
<p>FAFSA which qualifies you for federal funds guarantees you up to $5500 in PELL grants. That maximum is if your Expected FAmily Contribution is zero. You are also qualified to borrow up to $5500 in loans in your own name, some of which you can have the interest subsidized if you so qualify. The rest of any money you may qualify for from that form depends on your school and your state.</p>
<p>Where will you be applying?</p>
<p>Alrighty, thanks for the responses. I guess I won’t be able to tell exactly what I’ll get until I actually start applying…Everything is just so confusing to me.
mom2collegekids, I plan on applying and the University of Scranton, Seton Hill University, Marymount University, Mount Saint Mary’s University, and then Marshall University as a safety in case all else fails (tuition is comparatively cheap and it’s in-state).</p>
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<p>NOPE…the above is true only for the Profile schools that require the non-custodial parent form. FAFSA only schools ask only for the custodial parent information</p>
<p>You do have a glitch…you say your mom is “starting her own business”. How is she doing this? Where is the money coming from for this endeavor? She will need to file the tax form as a business owner and detail this…and this could very well affect your need based aid eligibility.</p>
<p>Also…does your mom receive alimony or child support? These are also listed on the financial aid forms.</p>
<p>If you apply to a school that requires non-custodial parent info either via the Profile or a school form…your dad’s income WILL be counted. Otherwise…no.</p>
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Oh wow yeah. She isn’t officially registered as a business/busines owner/whatever yet, and I don’t think she plans to until she gets her degree. It would have been better if I said she was planning to start her own business and trying to find funds and getting contacts I guess…nothing official or whatever,I guess. I was trying to explain why she can’t pay for my college stuff and just phrased it badly.
My mom doesn’t recieve alimony but she does recieve child support, which will end in a few months when I turn 18.</p>
<p>*I plan on applying and the University of Scranton, Seton Hill University, Marymount University, Mount Saint Mary’s University, and then Marshall University as a safety in case all else fails (tuition is comparatively cheap and it’s in-state). *</p>
<p>I don’t think any of those schools “meet need.” Not sure if any use CSS or NCP info. </p>
<p>Are your stats high for any of these schools? If so, then you might get a preferential package with some merit.</p>
<p>Are either of your parents remarried?</p>
<p>Your mother will have to provide tax returns. If she shows no income, and no source of income, but is still paying bills… you could have a knock on the door from the revenuers.</p>
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<p>And if you look up the financial aid statistics for teh 2/3rds of the schools that do not ask for non-custodial information, you will find that an overwhelming number of these schools do not meet 100% of demonstrated need.</p>