<p>Right now I barely got any money from stafford/perkins loans where I would only have to start paying back until after I'm done with college. I did receive some scholarship from the schools and I am happy for that, but it just still isn't helping enough due to my families financial state. My parents as of right now can not afford to take out the loans and start paying for it right now. If attempted, we would have to sell the house and a bunch of bad options like that.</p>
<p>Does anyone know anything about the child claiming independance for applying for loans. I hear that it might lead to more money and loans and the better option of me not having to start paying until I am done with school. I know that my parents might have to be a co-signer of the loan.</p>
<p>If anyone has any knowledge of this, your help would be MUCH appreciated. Thanks.</p>
<p>Many of the college loans, regardless who takes them out, don't require repayment until after graduation. You need to talk to your financial aid officer where you plan to attend school. they will help you.</p>
<p>TheatreJock...
Are you sure you have ALL the final information from your schools regarding financial aid? I know my daughter received late aid information from the one school we couldn't afford without MEGA scholarships/grants/aid. She got first notification of the aid when she called the school (in early April!) to ask some final questions before she committed to another school. One of the questions she asked was: "Am I getting any scholarships/aid?" The answer was yes...and it was sizeable. Enough that she immediately reconsidered the school...and eventually ended up attending there. So, be sure you have ALL the information before you make your decision.</p>
<p>There is also federal work study program and monthly payments can be set up at your school for whatever amount your parents can afford towards tuition.</p>
<p>It may help to declare independence, but there is a yearly limit to the Stafford loans no matter what and it doesn't equal all that much. Being independent may qualify you for a Pell Grant (a "gift" for extremely needy students) but I think there is more than just saying you are "independent" to be independent I believe there may be a criteria you have to meet/prove (i.e. living on your own, etc..)</p>
<p>As said above, do some research and I would call your financial aid office and speak with someone. They are usually pretty good about helping students find ways to pay for college.</p>
<p>My neighbor in CT went to a state school in PA. He "moved in" with family, I think it was his grandparents, in PA prior to the start of school and received the in-state rate. A huge savings if you have family there. Good luck.</p>
<p>Melsmom...your neighbor..how long did they have to have their name under the PA resident for them to become in-state..or did they just have to have their name under that adress before the school year?</p>
<p>That will vary state by state, theatrejock. Generally speaking it is not possible to do it. Residency is usually determined by where your parents live and pay taxes. Yes, people do move in with relatives, etc. but, in most places, that is not abiding by the rules and they're running a real risk by doing it.</p>
<p>This is true, and each school has different requirement for what determines residency. Here is PSU's TheatreJock...Looks like even if you move in with your PA family now <em>for a reason other than college tuition</em>, you won't be considered a resident until next year. I hope everything somehow works out for you, and all of us, in order that you kids can really go where you'd be most happy.</p>
<p>Be aware that "thanks" to the "deficit reduction act" passed by Congress, there are some changes in loans -- less federal money and higher interest amounts. My work office is involved in getting the info, and I don't have it yet, but I will share what its consequence is as soon as I understand it.</p>