My parents are keep making me feel guilty that they are going to have to pay for college????

Question

Its so annoying. When I told them about getting student loans so I could pay it off myself, they say that I can't get anything unless they cosign. They think that they have to pay of the loans in the end... is that true? I am so confused about all this.

Answer 1

It is because they worry about your future. I noticed from your previous questions that you want to attend graduate school. Once you graduate with your bachelor's degree, the Pell Grant does not exist. They worry about you not being fully independent due to a large amount of student loans. However, you can minimalize the amount in student loans by searching and applying for college scholarships. I will include some free resources to locate money for college.

First, complete the FAFSA form which is free to complete. It becomes available on January 1 for the upcoming fall semester. The FAFSA program is a need based financial aid program, and even if you believe your parents make too much money, you should still complete it. It takes into consideration your family size along with a percentage of income to determine your EFC score. It takes into consideration your income and savings at a higher rate than your parents' income and savings. This needs to be completed every year until you graduate from college with your final degree.

Second, go to your high school guidance office. They have a list of local scholarships which are the easiest to get compared to the national ones. In addition, they have a list of any programs that might reward students with certain GPAs.

Third, the local public library has a book listing college scholarships with some not even listed on the web.

Finally, join several free membership scholarship search websites. You enter a profile with them, and they will search for scholarships matching your profile. All you need to do is apply for them. There is a scholarship for almost anything including wearing duct tape to the senior prom.

Good luck!

Answer 2

Your parents should be very supportive about this. Think of it like this:

You can make a little over $20,000-$30,000 without a degree. If you attend college with loans, you will be making double or maybe even triple that amount once you get your degree. So paying back those loans will be easy.

Your parents don't pay for anything unless they get the Parent PLUS Loan. Then they begin making immediate payments on it. The Stafford loans require co-signment but does not matter if you have horrible credit or not. These loans you begin paying 6 months after you graduate. Grants you gain for free and don't have to pay them back.

There is also work-study that is offered through universities and colleges. You basically work and the employer pays you $5 an hour. The government then matches that amount so you get paid a lot more then the average college student. SHOW your parents that they won't be paying a dime now or even later as you will be the one making the repayments and it on your credit. Start with the FAFSA. This is your tool to getting whatever you can from the federal government and your state.

Answer 3

You can get federal student loans on your own without a cosigner. Unfortunately the maximum amount you can borrow is not incredibly huge. Here is a good publication about fin and and loans... in the back is the max amount you can borrow and the interest rates.

Answer 4

Let them know you are taking on the responsibility of going to college, not them, and that you are old enough to do this ... and if they want to help then let them know there can't be any strings attached except that you will pay them back... I mean if they are offering, its gonna be better than a loan cause a loan implies repaying interest etc... But recognise fundamentally they are offering there help, its up to you to make sure their help meets your needs! Repay them with money and maturity and gratefulness and a show of independence through success.

Answer 5

i think you're parents are probably upset because, although, most parent try and pay for their kids college, in the long run---it's your responsibility--i know many people that work full time and go to school full-time. you can get pell grants, scholarships or loans. student loans can quickly pile up and you don't have to pay for them until you get out of school. so, your parents are probably thinking (depending on where you're going to college) that you'll graduate (hopefully) then you'll be faced with anywhere from $50,000-$100,000 in loans and if you default on them and your parents co-signed them, then they will have to pay. if you really want to go to college the good way--work and save you $$ and pay as you go. your parents have provided for you for 18 years, it's time to take care of yourself--they've earned the break from being financially responsible for you. also, i don't know your parents financial situation--but it's difficult to pay for college on top of regular house hold expenses---especially if they have a lot of debt.

Answer 6

no its not true....

you automatically begin paying off your student loan when you graduate and reach a cartain wage bracket...

if you want a cheeky reply,you could always hit back with how much its gonna cost to have them put in a retierment home!

Answer 7

Talk to a guidance counselor and look for grants and scholarships. Getting a guaranteed student loan is no big deal. Your parents would not have to cosign.

Crack the books. It pays.