<p>I am moving out of state for Fall08. I am going to be paying for college on my own.. so I am obviously going to have to take out student loans to pay my way through college. When do I apply for a loan? Is this something I have to do through a private company or through a federal loan? Generally how easy/hard is it to get financial aid from an out of state public university? The problem is my family's net income is somewhere around 140k. Will this not allow me to get aid?</p>
<p>it's hard to even get loans at publics with that income..especially as an out of state student. My dad makes over 200K and i'm also planning on transferring fall 08. But i'm thinking of applying mostly to privates since they tend to be more considerate of individual circumstances.</p>
<p>wow... thats crazy I sure hope I can qualify for a loan at least or I suppose its McDonalds manager life for me :O</p>
<p>I'm in the same position, my family income is well over 140k. But seriously... how come that disqualifies us? It's not like our parents are paying for our school. AND claiming independent (I heard) can get pricey.......</p>
<p>what are our options?</p>
<p>Well I just got off the phone with a Financial Aid advisor. From what I was told they said to apply for financial aid but chances are with my family's income I wont be able to get any financial aid. There won't however be any problem getting a student loan. There are loans your parents can take out for you and there are also loans through private companies but your parents will have to cosign. By claiming (I)ndependant on your w-2 forms it really doesnt mean anything in reguards to the financial aid. They have their own guidelines for what an independant is (having a spouse, child, being an orphan, veteran, age 23+).</p>
<p>Hope this helps everyone out who needs it! if you have any more questions feel free to ask and I'll try to answer it the best I can.</p>
<p>yeah for financial aid purposes all students who don't meet that criteria are considered dependants. I also think you can claim independence if you're married...Can't remember the others. </p>
<p>In my case my dads credit sucks(don't ask me how..i have no clue...) so when he cosigns for me, i NEVER get loans. I'm working on building my credit so i can take out my own loans..that's what my bro is doing.</p>
<p>yeah, being married is one of them (having a spouse) :)</p>
<p>As for building credit, take out a student credit card and pay the whole thing off at the end of the month. DO NOT do min. payments or you will see yourself in a whole world of trouble.</p>
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yeah, being married is one of them (having a spouse)
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<p>oh i missed that.</p>
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As for building credit, take out a student credit card and pay the whole thing off at the end of the month. DO NOT do min. payments or you will see yourself in a whole world of trouble.
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<p>LMAO....too late. My balance is about 960 dollars and my credit limit is 1000 dollars. I pay about 20 dollars a month.</p>
<p>that is very.... verryy bad that is not helping you out. CLOSE YOUR ACCOUNT AND NEVER START UP ANOTHER CREDIT CARD. That is not how they are supposed to work. Have you ever talked to your dad about this stuff? No offense whatsoever but this is probably why he has bad credit if he thinks what you are doing is the right way. Credit bills like that is living in the rat race. I don't mean to preach but do you understand how much money you are paying in interest alone? You should start trying to put 200 dollars aside per week to pay for that.</p>
<p>It wasn't my dad lol. i dont go to him for advice. We barely even talk. I needed the money for food, bills,etc. I have no financial support and was unable to work during the spring semester because my major is very demanding. I'll be tutoring this fall but currently i still dont have a job and i'm looking. It's seriously not a big deal. Engineering jobs pay well and i should be able to pay it off after school.</p>
<p>you might consider Key Alternative loans if you don't have a cosigner. high interest rates though.</p>
<p>you still need a cosigner for all the alternative loans on my schools website. But please let me know where i can find loans which i dont need a cosigner for. I don't mind the interest rates.</p>
<p>my rich uncle = sometimes. it's really difficult to get a lot of money from anyone without a cosigner.</p>
<p>yeah i dont have any family in this country. And there's nothing like 'credit' where most of my family is from(ghana). I'm seriously considering prostitution. That's the only way out IMO <em>starts crying</em></p>
<p>haha no i'm not talking a/b a rich uncle.</p>
<p>myrichuncle.com</p>
<p>federally independant vs institutional indendendant</p>
<p>fed: over 24. unless married. easier to be indep.</p>
<p>inst: age doesnt matter, only independent in rare cases such as an orphan or abusive parents.</p>
<p>i get pell grants because im over 24 and im not rich. but it doesnt matter cuz im inst. dependant and the pell's reduce my aid award :(</p>
<p>edited...................</p>
<p>This might be inappropriate but I thought I'd share something. I knew a girl who went to one of top med schools and she became a weekend stripper to pay her way through college.. surprisingly, got out debt free!</p>
<p>yeah it's harder to be a dude stripper and porn doesn't pay as much either.</p>
<p>yeah generally as a male stripper your clients aren't going to be women if you catch my drift.. I'd rather go in debt =O</p>