FAFSA tips with a lot of dependents

the0ne
Wed, 09 Oct 2019 15:53:33 +0000

Well, my wife did this exact thing 20 years ago, we paid her loans off and have moved on with life. It worked out pretty well. Some rules have changed, but I’m stressing to my kids that if they want to go to college, they need to ensure it is in a field where they can pay their bills and some student loan debt.

Is it not realistic to make sure a kid is serious and going to work hard vs just give them a blank check and say “have fun!”? I think it’s much less realistic to send an 18 year old to a 4-year school that maybe gave them some money to then flounder and have to change directions. Mistakes at $150 a credit hour are MUCH less costly than at $900 a credit, maybe $500 with some scholarship money…especially when they can live at home and not rack up room and board for those first two years.

Most financial experts believe CC is a much better way to go for the reasons above and more.

When I went to the U of Illinois 20 years ago, it was $12k for tuition and room and board. Now, it is $37k for the same degree. If anyone isn’t realistic, it’s the educational system that just loves unlimited government money and loans with zero collateral.

Between my son’s existing scholarships, AmeriCorps, gift from grandparents, and an actual direction thanks to Community College…I’m sure he’s going to be just fine. He may leave school with $20-$40k student loan debt, but the avg starting salary for his field is well more than double that. He is in much better shape than many young people I know who have $100k+ in student loans because they went to all 4 years to a big school to get the exact same degree.

I came here to understand the nuances of FAFSA and if dependent count mattered, now I understand more, thanks.