cslaughlin13

so right now I'm a junior in an in-state public university (the tuition is around 6000-7000 ish per year) (not including books and other stuff etc.). I had to withdraw from school this semester for severe clinical depression and I want to go back soon, but the problem that I have is that my parents will not pay for me to go back to college. My parents are divorced: My dad is a plastic surgeon and my mom is a project manager. Neither of them are going to pay for college, but the problem I have is how can I get financial aid for myself? I am 23 now and I keep hearing that once you hit 24 you don't have to put your parents income down. I am thinking about going back to school next fall as I really want to take a semester off to overcome my depression but is it worth it to fill out FAFSA? I have tried applying for private loans and my credit score isn't good enough to get one, but I hear that just the act of applying for FAFSA, regardless of EFC, you will get an unsubsidized loan. Will that loan be enough for me to pay for college for a year or should I possibly wait another year till I turn 24, apply for FAFSA and put my own low income which would probably get me financial aid? I think that I will still apply this year but If anybody could give me an idea of what FAFSA will give you, at a minimum,I can maybe look at the options I have for going back to school.

Batllo

Why don't you get your mental health problems resolved before you start making all these plans? If you are able to get it together, your parents may offer to support you again. You left school for depression, work on getting better.

cslaughlin13

thanks for the reply, but it didn't really answer my question. I was asking more about FAFSA, and I already stated that they are not going to pay for college, I know this sounds crazy but thats divorce for you...

'rentof2

I'm not sure, but I think you'd be better off waiting until you turn 24. At that point you'll qualify for a Pell grant if your income is low enough and also a loan (subsidizd or unsubsidized.) But with the Pell thrown in, you'd have to borrow a much smaller amount than you would applying for aid while still having to report your parents' income.

Plus, it gives you time to really focus on getting better.

cslaughlin13

yeah, that sounds like the better choice, one more question if anybody wants to answer: can you apply for FAFSA, lets say VERY early january, like within the first week and get funding in time before the spring semester starts, usually the 3rd or 4th of january?

swimcatsmom

You would be better of filing earlier than that if you want the aid to be ready for the start of the spring semester. The upcoming spring semester is part of the 2009-2010 school year so is the current 2009-2010 FAFSA. You can file it now.

The 2010-2011 FAFSA that is available jan 1st is for the 2010-2011 school year starting fall 2010 (or summer 2010 for schools that put summer at the beginning of their school year for aid purposes). If you are turning 24 in 2010 then for the 2010-2011 FAFSA (and 2010-2011 school year) you will be independent for financial aid purposes, but not for any part of the 2009-2010 school year (including the upcoming spring) as that would require you to turn 24 in 2009.

A dependent junior and up in college is eligible for $7500 in Stafford loans with an aggregate maximum of $31,000. Once you are independent you are eligible for $12,500 in Stafford loans a year for junior and up with an aggregate maximum of $57,500. You must file FAFSA to be eligible. You do not need a cosigner for Stafford loans. Hopefully once you are independent you will be eligible for some grant aid such as the Pell. It depends on what, if any, income and assets you have.

sk8rmom

Just to clarify, FAFSA uses a January 1 cutoff date to determine independent status. So, if you were born before 1/1/86 then you're independent for the current school year. If you were born before 1/1/87, you'll be considered independent for 10/11.