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FAFSA, Financial Aid...how much can I expect to receive?

I'm a junior in high school and would like to attend a private college during the 2007-2008 school year and I'm wondering how much I can expect to receive (rough estimate), in grants from the government and financial aid/grants from whatever college I attend. Here is my mother, who will be filing the FAFSA form and reporting financial info to the college I will be going to, financial info: -Her net worth is approximately 700k, most of which is locked up in the house -She doesnt work and didnt file a tax return last year but gets 4k per month in alimony from my Dad. The divorce was finalized a couple months ago (not sure if that makes a difference) -I currently dont have a job but plan on getting one this summer and working 15-20 hours per week -I have a total of 4 people in my household, a brother who will be in 8th grade next year and sister who will be in 10th, my mother and myself. So how much can I expect to receive?

Public Comments

  1. too much info... this is dangerous
  2. That would depend on FAFSA. No one here can give you an exact answer. It all depends on your financial report, parents information, etc. That's where they based on when qualifiying students for financial aid.
  3. They have complex equations that figure it out, but by the sounds of it (your mother's net worth), not much. BTW, you might want to be a little more careful with your private information.
  4. not that much, it's usually in the form of gov't loans which equal crap...especially if you go to a small liberal expensive private school.
  5. You should never give out this much info. I suggest you talk to the school.
  6. Its hard to say. Since your mom is a single mom that might take that into consideration as well as the 4 people in your household. Just have to wait it out. Apply Apply and Apply for scholarships! I can't stress that enough. You might evern get a little extra!
  7. Looks like from what you just said, you may have to take out loans until you reach the age of 21, that when they no longer consider your parents income...Good Luck
  8. You will have to put your dads info on the fafsa so if he makes a decent amount of money (which he must if he is paying your mom 4000 a month in alimony -- are you sure you didn't mean child support?). I wouldn't count on too much in financial grant aid. They will always offer you loans though.
  9. Your expected family contribution probably won't be much, if anything. You might get around $2000-$3000 per semester.
  10. First of all, your mother has to file a tax return to get financial aid (it's illegal for her not to file annually). Second, $4,000/month is a good chunk of money (that's more than double what the average American citizen earns/month). For this reason, I don't know if you would get very much in financial aid. Third, you probably will have to include your father's financial information in your FAFSA. If your father is paying your mother $4000/month in alimony, he must have a lot of income himself. This is another reason why I would expect you not to receive very much financial aid.
  11. It can't hurt to fill out the fafsa online. Also, they may not count the value of the house. I'm not sure if the alimony counts either. If you don't have a job, don't put anything down about that. You will receive more than you think.
  12. Your not going to get jack, your family has too much income. As a general rule, FAFSA only provides an estimated family contribution. This is the amount of money that the government believes your family is capable of providing for your education. The school's financial aid office actually determines the amount of money you get based on the estimated family contribution provided by the fafsa, so amounts will vary from school to school.
  13. FINANCIAL AID IS HARD TO GET. WITH YOUR MOTHER GETTING THAT KIND OF MONEY, I HARDLY DOUBT YOU WILL EVEN GET APPROVED FOR FINANCIAL AID. TO RECIEVE FINANCIAL AID, YOU NEED TO MAKE HARDLY NOTHING! IT SUX, BUT THATS THE TRUTH. MY SISTER IS A WAITRESS AND SHE MAKES ONLY 20K A YEAR AND SHE STILL COULDNT GET FINANCIAL AID. I THINK YOUR GOING TO HAVE TO APPLY FOR A STUDENT LOAN...UNFORTUNATLY.
  14. Just to correct someone before...you have to be 24 to be considered Independent for the purposes of receiving financial aid...not 21.
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