<p>So I still haven't done my FAFSA form yet, since my parents haven't filed their taxes yet. I keep telling my parents that I need to get this done right away, however my mom doesn't think it matters much since she believes I won't get anything anyway (family income is probably 100k in NY and I will be the 2nd child attending college with my brother a current junior). My school's priority date for FAFSA was March 1st. Am I pretty much screwed? Is there any way for me to fill out this form by myself so I can get this done, since my parents aren't doing it?</p>
<p>Do your parents KNOW that you could have (and SHOULD have) filed the FAFSA using estimates and meeting that deadline? Do they KNOW that having two kids in college at the same time makes you MORE eligible for financial aid than if you only have ONE?</p>
<p>Your family would not have qualified for things like Pell or SEOG, but they might have qualified for SOME kind of aid. Some schools using the FAFSA also use that information to award THEIR institutional aid. And you might have qualified for some of that too…maybe.</p>
<p>At this point…you should apply ASAP. You CAN and SHOULD use estimates and then get the taxes done ASAP and amend to reflect the numbers on your taxes.</p>
<p>There is no way to know what the schools will each do at this point. You can call and ask them. Many schools process aid FIRST for those who have met the deadline (and MANY students do this by using estimates BEFORE their families do their taxes), and then any late applications are processed later…if there is money left.</p>
<p>I guess the BIGGER question…do you have a plan for paying for college?? Are your parents planning to pay your college expenses? If so, then you have less to fret about than if your parents are expecting financial aid with a late application and this will affect your college choice.</p>
<p>Well I recently went to orientation (last week) and met with a financial advisor with my dad. After the meeting, my dad realized we needed to get this done ASAP (i’ve been reminding my mom since January that I need to do this). However, a week later nothing has been done. My parents are only paying for my meal plan for school and i’m going to an out of state public school, hence my frustration as to this not getting done. I did receive a scholarship, but it’s only $6,500 a year and my total expected cost for my freshman year is $32,000. So my breakdown looks like this currently</p>
<p>Scholarship: $6,500 a year
Meal plan paid by parents: $2,000 a year
Gift from my grandfather: $2,000 a year
Amount i’ll have saved up before the first day of classes: $4,000-$7,000
Job (if I decide to get a job my freshman year): $3,000-5,000 (estimating)
Total: $17,500-$22,500</p>
<p>The rest I was planning to take out in loans</p>
<p>the max student loans you are GUARANTEED is 5500 in stafford loans. </p>
<p>You will need a cosigner for any loans above that. You can’t get a stafford loan without doing the fafsa</p>
<p>Yes, I’m well aware of that. I will be looking to take out private loans as well with my parents co-signing.</p>
<p>
Good for you for having saved this and for planning to work. But what will you do for years 2, 3, 4?</p>
<p>You are unlikely to be able to get loans in your own name to cover $20,000 a year (which is what you are looking at after year 1). In all honesty I think you are being a little optimistic that you can swing this on your own. Is your desire to go to this particular school blinding you a little to the financial reality of the situation? I don’t mean that unkindly, but seriously it is time for bit of a reality check before you find yourself in the situation of starting at a school where you cannot pay to finish.</p>
<p>edit: crossposted with OP about parent cosigning loans.</p>
<p>Please take a look at a loan calculator like the one here
[FinAid</a> | Student Loans](<a href=“Your Guide for College Financial Aid - Finaid”>Student Loans - Finaid)
to get realistic idea of how high your loan repayments will be for so much in loans. Don’t forget that if you are not paying interest as you go then the interest will be added to the capital on a regular basis and you will be paying interest on the interest. It is surprising how much the loan balances grow when you are doing that. Also some private lenders may no longer allow interest to be deferred which means you must come up with the interest payments each year as well as your college costs. In the end it is your choice but I would strongly discourage my own kids from taking out nearly $80k in loan.</p>
<p>My parents will co-sign for a loan, they just won’t pay for the loan. Also, for years 2, 3, and 4 my total cost with be a bit cheaper as I will be looking to get an apartment with some friends. Room and board is a bit over $10,000 at the school i’ll be going to (Arizona State University), so getting an apartment would be much cheaper. I’m also looking to get a student manager position with my school’s baseball team. If I do end up getting the position, they give out scholarships to their top managers (there’s usually only 4 student managers) for their junior and senior year. ASU also has one of the most elite baseball programs in the country and this student manager program that they have has sent former student managers to being sports agents and working high up in the management department of professional baseball clubs. This opportunity is well worth the loans I will have to take out in my opinion, since my goal is to become a sports agent.</p>