Newlyweds...another reason to really, really work on your marriage

[pensmama87]

I’m not sure, but they do require the parents’ collaboration, the parents need to provide information on their income and assets.

If things haven’t changed, the financial aid form was also necessary to apply for a loan as well.

For the loans I had, yes, the federal form was required. I don’t think it’s required for private loans, but see prior post about harsher terms etc.

In addition, there are students who begin undergraduate studies as minors. Not just crazy smart wunderkinds, but just kids who fall towards the end of the date cutoff.

 

[1990Domer]

I just found this:

“After graduation, the primary borrower may apply for co-signer release after making 12 consecutive monthly on-time principal and interest payments. Sallie Mae looks at the primary borrower’s demonstrated success with other credit obligations (e.g., car payments, apartment rent or credit card) and reviews whether your friend has sufficient income to manage the payments. If the primary borrower meets the credit criteria, the co-signer is released from the loan obligation.”

bankrate.com/finance/college-finance/escape-route-student-loan-co-signer.aspx

Ironically (but not surprisingly), it may be easier to get off the on-time daughter’s loan than to get off the late-pay son’s loan.

I’m actually surprised that it can be done at all without refinancing the student loan with a new (and probably much more expensive) loan.

As they say in that article, “When you co-sign a loan, you agree to share in a financial risk that the lender would not take on without you.” The lender insists on a co-signer because they believe the borrower is a bad risk.

Great find!

 

[Mary_Gail_36]

For the loans I had, yes, the federal form was required. I don’t think it’s required for private loans, but see prior post about harsher terms etc.

In addition, there are students who begin undergraduate studies as minors. Not just crazy smart wunderkinds, but just kids who fall towards the end of the date cutoff.

It’s been a long time, and I actually didn’t have loans, I received grants and then paid the difference with help from my parents.

My DH had student loans. Actually, while the private loans had harsher terms, those could get discharged in bankruptcy court. The federal loans couldn’t. (I’m not sure if this is still the case)

 

[pensmama87]

It’s been a long time, and I actually didn’t have loans, I received grants and then paid the difference with help from my parents.

My DH had student loans. Actually, while the private loans had harsher terms, those could get discharged in bankruptcy court. The federal loans couldn’t. (I’m not sure if this is still the case)

I don’t think so…but I also hope to never have to find out.

 

[1990Domer]

Can the students not fill out their own forms? Do they require parent signatory?

If they are minors, yes. Actually, this definition has changed to, I think, kids 25 or younger because many kids can’t finish their degree in four years (a puzzlement, unless they have a double major or are doing a program combining a MBA).

Here’s a good one. My DH applied to Harvard for grad school. We were married, but they still wanted his parents’ financial info, which they refused. We were fine with that-- it wasn’t his first choice. He got accepted and I got a call from the financial aid office saying they could not offer him aid without his folks’ info. DH was at school (he started his MS locally) so I told the office that MIL would not give us the info but they were free to call her. They said that they couldn’t accept him without this info. I said, “If you want him bad enough, you have no choice.”

They accepted him with financial aid. He didn’t end up going there b/c there were better schools for his degree interest. And Harvard was the only school he applied to that had this requirement.

 

[UbiCaritas]

If they are minors, yes. Actually, this definition has changed to, I think, kids 25 or younger because many kids can’t finish their degree in four years (a puzzlement, unless they have a double major or are doing a program combining a MBA).

Here’s a good one. My DH applied to Harvard for grad school. We were married, but they still wanted his parents’ financial info, which they refused. We were fine with that-- it wasn’t his first choice. He got accepted and I got a call from the financial aid office saying they could not offer him aid without his folks’ info. DH was at school (he started his MS locally) so I told the office that MIL would not give us the info but they were free to call her. They said that they couldn’t accept him without this info. I said, “If you want him bad enough, you have no choice.”

They accepted him with financial aid. He didn’t end up going there b/c there were better schools for his degree interest. And Harvard was the only school he applied to that had this requirement.

At a guess, this might have been institution-specific because Harvard, like Yale and a couple of the other Ivies, have insanely generous financial aid policies if you and your parents don’t make lots of money. Ten+ years ago when I was doing the college app process, for example, if you got accepted to Yale and your parents made less than 100K/year, you automatically got a full ride. Needless to say, they wanted plenty of documentation for that, and rightly so, but it’s something to bear in mind.

 

[HouseArrest]

“His son was angry that I sent this email and he took it out on his father, which shouldn’t happen. He should have talked to me instead and I kept his father out of this situation because he doesn’t want his son to stop communication with him. I kept my mouth shut for years and I had to step up as my husband won’t do anything.”

This is the part that has me wondering if stepmom is initiating this herself or if she is being prompted by her husband.

We also don’t know if this was discussed before the wedding or not. Maybe it was a point of contention and the husband agreed to attempt to amend the situation after the wedding. Certainly you wouldn’t wait around to get married, these kinds of discussions can take awhile. Maybe now he is backing out of taking care of it.

Of course, it is possible it didn’t go like that at all.

 

[Xantippe]

If they are minors, yes. Actually, this definition has changed to, I think, kids 25 or younger because many kids can’t finish their degree in four years (a puzzlement, unless they have a double major or are doing a program combining a MBA).

Here’s a good one. My DH applied to Harvard for grad school. We were married, but they still wanted his parents’ financial info, which they refused. We were fine with that-- it wasn’t his first choice. He got accepted and I got a call from the financial aid office saying they could not offer him aid without his folks’ info. DH was at school (he started his MS locally) so I told the office that MIL would not give us the info but they were free to call her. They said that they couldn’t accept him without this info. I said, “If you want him bad enough, you have no choice.”

They accepted him with financial aid. He didn’t end up going there b/c there were better schools for his degree interest. And Harvard was the only school he applied to that had this requirement.

That is a hilarious/sad story.

 

[jmjZelie]

Parents have to be DEEPLY involved in the US or kids have a very hard time getting through college.

One of my major peeves is US parents who won’t fill out financial aid forms, so their children can’t get any need-based aid until they are well into their 20s. So selfish! So irresponsible!

Not if the adult “child” is emancipated.

 

[Xantippe]

Not if the adult “child” is emancipated.

How easy is that?

 

[jmjZelie]

If they are minors, yes. Actually, this definition has changed to, I think, kids 25 or younger because many kids can’t finish their degree in four years (a puzzlement, unless they have a double major or are doing a program combining a MBA).

Here’s a good one. My DH applied to Harvard for grad school. We were married, but they still wanted his parents’ financial info, which they refused. We were fine with that-- it wasn’t his first choice. He got accepted and I got a call from the financial aid office saying they could not offer him aid without his folks’ info. DH was at school (he started his MS locally) so I told the office that MIL would not give us the info but they were free to call her. They said that they couldn’t accept him without this info. I said, “If you want him bad enough, you have no choice.”

They accepted him with financial aid. He didn’t end up going there b/c there were better schools for his degree interest. And Harvard was the only school he applied to that had this requirement.

The redefinition of minors is so bizarre to me. I am a younger GenXer and I left home at 17 and never went home again, except for short visits on the holidays or long weekends. I spent my breaks working and taking summer classes. I never had any help from my parents to pay for college after my freshman year. They made such a scary huge deal about how much I was going to owe them after I got my first job, made me sign a promissory note for the loans they took out for the first year (there was no aid for us, at that time, I presume), and I knew I was facing wage slavery to my parents and the government and the school loan companies. So I decided to opt out of that situation. I was going to quit school and work to save up for tuition. I eloped with my fiancé after our freshman year and never returned home to live (in fact, my parents confiscated my keys when I went to college my freshman year) and was going to enroll in beauty school. Then all of a sudden, I was informed by my school that as an emancipated young adult (which I became through marriage but there are other ways) I qualified for tuition remission. They literally let me go to school for a cheaper tuition and with a very small school loan each year and a steady job, I was able to pay my way through university.

It is a sad fact that university tuition increased because of federal aid and school loan availability. For “kids” that are not being claimed by their parents on taxes or financially supporting their children in any way, there is (was) a more fair tuition/admission system, at least at some of the larger universities.

 

[jmjZelie]

How easy is that?

For me it was as easy as saying I do.

But there are other ways it can be done. At least there used to be. I don’t know if governments and universities wised up and closed that loophole or not.

 

[Burt_Macklin]

For me it was as easy as saying I do.

But there are other ways it can be done. At least there used to be. I don’t know if governments and universities wised up and closed that loophole or not.

No it isn’t as easy as saying I do. If it were you would see everyone becoming emancipated for the purpose of receiving financial aid. Refusing to fill out the FAFSA is not a reason in and of itself for emancipation. Believe me, that’s what I would have done if it were that easy. Your best best is the fill out the FAFSA on your own without your parents’ info and see what you qualify for. That or you can get married or join the military.

 

[Xantippe]

No it isn’t as easy as saying I do. If it were you would see everyone becoming emancipated for the purpose of receiving financial aid. Refusing to fill out the FAFSA is not a reason in and of itself for emancipation. Believe me, that’s what I would have done if it were that easy. Your best best is the fill out the FAFSA on your own without your parents’ info and see what you qualify for. That or you can get married or join the military.

Yeah, there are potentially hundreds of thousands of dollars on the line per family.

 

[jmjZelie]

No it isn’t as easy as saying I do. If it were you would see everyone becoming emancipated for the purpose of receiving financial aid. Refusing to fill out the FAFSA is not a reason in and of itself for emancipation. Believe me, that’s what I would have done if it were that easy. Your best best is the fill out the FAFSA on your own without your parents’ info and see what you qualify for. That or you can get married or join the military.

Your first sentence and your last sentence contradict each other. I said in my post with the details that I eloped and discovered that as a newly emancipated person, I qualified for tuition remission at my university. It is not for everyone, for many reasons. But it was great for me and also my husband and children, who benefit from having an educated wife/mother with zero school debt.

And I was not suggesting that people become emancipated because their parents refuse to fill out the FAFSA. I was saying that for those people who do become emancipated in their teens, the situation looks very different from those people who can continue to rely upon their parents for financial or other support.

Edited to add: and yes, joining the military is another way to become emancipated that is commonly used. It used to be that it could be done by going before a judge as well. I don’t know if that is the case any longer. I got married. My siblings both joined the military right out of high school. We all were able to find ways to pay for the kind of education or vocational training at reduced costs as a result.

 

[Anglewannabe]

I can totally understand the step mom’s point of view. Which is why I would REALLY think twice before marrying a man with kids. As much as she has a point, she did put herself knowingly in that situation

Angie

 

[HouseArrest]

For me it was as easy as saying I do.

But there are other ways it can be done. At least there used to be. I don’t know if governments and universities wised up and closed that loophole or not.

They are pretty much closed.

If you are under 24, to be considered independent you must be

married
have a dependent other than a spouse
veteran or active duty in the military
an orphan

 

[jmjZelie]

They are pretty much closed.

If you are under 24, to be considered independent you must be

married
have a dependent other than a spouse
veteran or active duty in the military
an orphan

What about teens who are abandoned or disowned or kicked out of abusive homes, I wonder? Or who were removed and placed in foster care?

To be clear, I am not talking about anyone striving for any of those categories. Only saying that if one finds themselves in such a category, perhaps all hope is not lost. College might still be achievable.

 

[HouseArrest]

What about teens who are abandoned or disowned or kicked out of abusive homes, I wonder? Or who were removed and placed in foster care?

To be clear, I am not talking about anyone striving for any of those categories. Only saying that if one finds themselves in such a category, perhaps all hope is not lost. College might still be achievable.

I think there are provisions for those kinds of situations. A student in foster care would probably be considered an orphan because parental rights are affected. The state has custody of the child.

I know other kids who have dire situations who get a lot of one on one help with the FAFSA and get a lot of financial aid.

I think the list was created to end people trying to buck the system. I know a few decades ago kids would move out of their homes for a year, get jobs, have their parents not claim them on taxes, and file independent. You can still do that, but you have to be 24 years old, which is exactly past the age that most students are done with undergraduate work. Also, a student is not going to get any special treatment by saying their parents don’t want to help them. A high percentage of parents look at the cost of college and say they can’t help, then the students whine because they think every other student/family has it easier than they do. In the end, the parents do not have to provide higher education for their kids, just like they don’t have to pay for anything else they deemed too expensive, like let’s say being on the swim team in high school. They get to decide for themselves what they are going to pay for. Even if the parents won’t pay, though, the household income needs to be reported.

 

[Burt_Macklin]

What about teens who are abandoned or disowned or kicked out of abusive homes, I wonder? Or who were removed and placed in foster care?

To be clear, I am not talking about anyone striving for any of those categories. Only saying that if one finds themselves in such a category, perhaps all hope is not lost. College might still be achievable.

Then they can bring court protective orders, police reports, and letters from people familiar with the situation and get a dependency override for the FAFSA.

I think that we’re mixing up terms here with different types of “emancipation.” When you join the military or get married you are not becoming “emancipated” from your parents; you’re an adult entering into a legal contract. You become legally emancipated from your parents when you turn 18. Now for the purpose of the FAFSA it remains your parents’ responsibility to provide for your education until you turn 24. The only emancipation that would matter for the purpose of the FAFSA is if you were an emancipated minor, something which is not lightly granted and certainly not granted because your parents refuse to help with your college education.