How much aid can I get realistically?

annoyingdad
Sat, 11 Oct 2014 15:35:37 +0000

Those NPCs on collegeboard for Stanford, Columbia etc. are still customized for the specific school. The results are only as good as the information that is entered.

Regarding the SS, the purpose is to provide for the child’s food, shelter, current education, entertainment etc. until they graduate from HS and can be self-supporting. Any extra can be saved for future use such as for college education. He is supposed to be doing some accounting and the SS admin may ask him to file a form each year concerning how the money was spent. When you turn 18 in April before graduating, at that point the checks will be made out to you and you should set up direct deposit. You will have to have your school fill out a form that says you’re still a HS student and when you will graduate. In theory at that point you use the money for your own support. That could be reimbursing your parents for expenses.

I’m sure in stable families, this money is often treated more informally like your dad is doing but in effect it should allow parents with decent or better incomes to contribute more during the college years even though the money isn’t currently being earmarked for that in a specific account. This may be part of why your dad thinks he can contribute a total of $50k per year for the two of you. Remember that this benefit is based on your Dad’s work record and not on anything you did to earn it. Still the purpose is your current and perhaps future support.

I think Madison85 is underestimating the amount of the checks. Each child can get 50% of the parent’s full retirement amount but there is a 150% to 180% cap for the family as a whole. I think the checks are more like $1200 a month per child. You will know the amount in April for sure. I also think Madison85 is suggesting a more nefarious situation here than is warranted by what we know about the family dynamics.

OP, I don’t know your relationship with your Dad. You said you confronted him about this. I think you have the right to discuss it with him but confrontation probably isn’t the right attitude going in.