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Aggieland | As a recent college grad with a lot of student debt let me tell you what Id do different. To get any kind of funding you will need to file a FAFSA as the parent and I believe they look at two or three years income and they will give you a expected family contribution. That number is what any grants, need based scholarships, and subsidised loans will be based off of. I can pretty much tell you youre not gonna get any grants, need based or subsidised loans. However, if your child is intelligent and has good SAT and highschool grades he can get merit based scholarships which DO NOT take into account your FAFSA, (however they can affect it the next year IIRC) BUT the KEY is that most require you to take the time and APPLY for them. I wasnt under my parents income because I was older and paid 100% of my expenses on my own. I was making 60k a year at 23 years old and qualified for no "free" help but my first semester at A&M was nearly paid for in MERIT based scholarships. Where I failed was I never re-applied for any of the scholarships out of ignorance. I didnt want to take the time to ever go meet with a fin aid counseler so I just did loans. I regret that severly now. Had I just reapplied I would have had most of my college paid for DUE to MERIT and not NEED. My sister in law is about to graduate A&M as well and was a free ride all 4 years, went to PARIS and LONDON all paid through MERIT based scholarships. Granted she had to attend many meeting, speaches and functions all throughout but shes about to graduate from one of the best colleges in the country debt free! Im pretty proud of her to say the least. Another key not is dont force your child to take a failing grade. If your child his having a hard time in a class and knows they cant pull out at least a C (better if a B) then drop it with a W before the deadline. It will cost you a little in lost money but save you in a lot of GPA. I should have dropped my chinese taught chemistry class that I knew I couldnt have passed but didnt and damned if that single class didnt bite me in the butt the rest of my college career. Lessons learned. Hope this helps at least a little bit.
Caleb | |
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College financial aid questions.
