Is there any way around this?

Paying for College
1

<p>Alright here is my situation. My dad makes enough that the government would expect a family contribution, and I probably will not be able to get anything but loans, and mabye merit based scholarships, though those are limited. </p>

<p>My dad MAKES the money that they goverment expects him to pay but… he has so much debt, he couldn’t possibly help me pay for my college, like I mean ALOT of debt, is there any way around this? Does the federal government just not care how much of a problem this can be? Because it’s really driving me insane. I want to go to a GOOD college, not just any college, but I don’t know how I am going to afford it without being up to my neck in debt when I get out. And I don’t know if there is any way around this problem. Any advice would be appreciated.</p>

2

<p>the only debt that is taken into consideration when awarding financial aid is either student loans or medical bills – and this is generally done on a case by case basis by each school. Proof and explanations are generally required.</p>

<p>consumer debt is not taken into consideration – this includes car loans and credit car bills, etc.</p>

<p>mortgages on a house or property are subtracted from the value of the house or property yielding the “equity” which is used in the calculation of financial aid. Equity for the primary dwelling is not used for federal aid calculations, but is frequently used for institutional financial aid awards. properties in addition to the primary dwelling (land owned, vacation home, second home) are always used when calculating financial aid awards – and are counted as an asset.</p>

<p>If the debt your father has is consumer debt, he will still be expected to pay the EFC that is calculated.</p>

<p>I suggest sitting down with both parents and calculating the EFC (both FAFSA and Institutional) inputing accurate numbers. <a href=“http://www.finaid.org/calculators/finaidestimate.phtml[/url]”>http://www.finaid.org/calculators/finaidestimate.phtml&lt;/a&gt;&lt;/p&gt;

<p>I also suggest buying and reading the book “paying for college without going broke 2007”</p>

<p>now if the time to figure out what your parents can and will pay for your college – this way you can come up with a strategy when you apply.</p>

3

<p>I’d suggest that, in addition to following hsmomstef’s advice, you start searching for scholarships. Most of the major deadlines begin in October and run through late winter/early spring. </p>

<p>You can find scholarship opportunities starting with Fastweb.com and other scholarship search engines. I’d also search and apply for all local scholarships available. You can find those through your school’s career center and through community organizations.</p>

4

<p>Talk to your GC, investigate scholarships (particularly locally offered ones, which normally are the easiest ones to get), and take a close look at all of the public universities in your state, which may be your best chance to have an affordable college experience. Get your application in early because often state universities are rolling admission. Check the university web sites to see if there are merit scholarships that you can apply for or qualify for. Some have early deadlines, so start early. </p>

<p>Also read the tips at the top of CC’s Parents Forum and this board.</p>

5

<p>Join the military. Get married.</p>