Why does my parent have to be on a student loan if I’m independant?
I’m going to go to beauty school starting August. I have my own job, my own car, and pay my own rent/insurance, my own food…I pay MY way thru life with no help from my mother or father. Why is it that when applying for a student loan I was told that because I am only 18 and because I’m not married and I dont have a child and because I’m under the age of 24 that I am consider a dependent on my parents and they have to go on a loan with me. Why is that? It doesn’t make any sense to me. Because my mom made to much money last year I cant get the full loan tution to get thru school so I have to pay 300 a month (its 5000 dollars short) why does her net worth affect MY loan?
just 15000
No, it doesn’t make sense but the federal government has a set of rules that determine if you are independent for financial aid purposes and you don’t qualify. The basis for this is that the government expects families to help with the cost of education for their kids. Some parents can’t or won’t help. Many, many people have the same problem.
Double check the rules at the link below and go back over your FAFSA and make sure you have everyones income and household size correct. Also make sure you show yourself as living apart from your parent. You can make corrections online and your aid will be adjusted.
That must be SOME EXPENSIVE school!
http://www.fafsa.ed.gov/help/fftoc01k.htm
