questions on college loans? please help?

Question

i recently moved out of my parents house on very bad terms.. they are not supporting me in terms of finances, insurance, or education. i moved in with my best friend and her family... now i am trying to figure out my options.

i can take out a loan, but was wondering who should cosign? my parents will not - but my best friend offered. being that she already has student loans, i'm not sure if thats a great option, or really how that even works. i just need to get through 3 more semesters to graduate.

also wondering - my parents will not fill out the FAFSA form. apparently i need their information.. is there a way that i can have independent status and not need their info?

any info and opinions welcome.. thanks.

Answer 1

First, talk to the financial aid office at the college you plan to attend. They are the experts in this. But - here's my two-cents.

Because you have moved-out, and are of college-age, then you are probably 18 years old. You are an adult. You can sign for your own student loan -- that's what student loans are all about. Study hard, graduate, and then begin to pay those loans back. I know - on TV you hear all these 25 year olds whining about their student loans. But it's a small price to pay for a college education.

If you have truly moved-out for good, then your parents are not involved in your FAFSA. Your FAFSA is about your ability to pay for college. If you're on you own, then you're on your own.

Once again - verify everything with the college's financial aid department. They are willing to counsel future students. Write everything down, and ask a lot of questions.

Now - here is my advice as a parent. You are in a difficult situation, and you need to make the best of it. In 4 years you will have a college degree, and you will be able to support yourself with no problem. (You might need to live modestly, but you can do it!) Until that time, you will need to work -- whether at a job or in the classroom. Some young adults (with parents who give them money) see their late-teens and early-twenties as social/party/"experience" times. You're probably not going to be able to do that. You will need to study hard and always "keep your eyes on the prize."

I'm not sure if you're planning on going to school in the Fall or not. I would say probably not if you're still lining-up financial aid. So - get a full-time job and save your money. Pay rent - even a small amount - to your friend's parents, just to show the FAFSA people that you are an adult on your own. Decide where you want to go to college, and visit their financial aid office (don't try to do it all on the phone.) Realize that you probably won't have the active social life, but study hard and you will make it.

Hope that helps.

Answer 2

Here is the correct answer.......Go to your financial aid office and discuss your situtation. If you are staying with a friends parents take them with you to providing additional information on your living conditions. IF the school feels your story is accurate, they can force you as an independent student. If they do not do this, you have no real alternative but to get your parents information. If they will not provide it, you are unfortunately out of luck. Not pretty but its the truth. DO NOT borrow from some third party group. It will cost you!!!!!!

Answer 3

Stay away from all internet lenders wanting $ up front for there so-called fees.They are all SCAM ARTISTS! If they want $ up front report them to your states ATTY. Generals office and the FTC.