FAFSA income limit?

cptofthehouse
Mon, 25 Apr 2011 13:56:45 +0000

FAFSA is just a calculator that comes up with a number that indicates what a family should be paying for college. It’s just one indicator. It also determines eligibility for the PELL grant which is for our families with the least amount of money, giving up to about $5K a year so that ALL kids can go to college regardless of income. For those kids who need some help and whose incomes and college costs show a family need, a very small amount of loans can be subsidized through the Stafford. EVERYONE who is cleared through FASFA, which also makes sure that you are a US citizen or have a green card before clearing you for any benefits, and also checks for any previous federal loan delinquinsies and record, for registration for the SS if a male, and a number of other things. can take some Stafford loans, something few students can take on their own. The total amount is under $30K over 4 years, and the interest rate is no bargain, but usurious. Your D can take out that loan too. The rest of the money is pretty much from outside sources and the colleges’ own funds.

As for your K paying for others’ education, well, what’s new about that? You pay property taxes? You may be paying for other kids going to school. Those with no kids pay for everyone’s kids going to school and get no direct benefit from that. Big families like mine can really make out with all of you guys paying for our kids’ education k-12, except I am paying too, and all mine spent their time in private schools. Schools determine who they want to pay to have come and enhance their reputations and communities, and those that they accept are on one level, and the ones that they give scholarships to a whole other level. Merit awards are given to entice kids better than your D to come to the school so it will be a better place, if you want to look at it that way, and you pay to make it a better place for your kid. Financial aid makes it possible for those kids who better deserve to go to the school can go so that not only full pay kids can be accepted, bringing down the standards. Lots of ways you can look at this.

You pay taxes? Well, depending on what you pay, you are paying for others or getting the benefit of those who pay more than you are paying. If you are dead center in the US averages, you are then paying for yourself. The ones who you are really paying for are some of the truly rich who can use some huge loopholes, including international laws and don’t may a pittance on their earnings when they should be. I wouldn’t be beating on the doors of those making poverty levels for their tax money. They don’t have it.