Post by puppylove64 on Apr 29, 2016 10:57:33 GMT -5
The only thing I think no one has already mentioned is: when it is time for her to fill out her FASFA for next year, maybe you should review it. If her parents aren't contributing at all, they can choose to not claim her on their taxes and she will qualify for more loans/grants. It might hurt them a little, but help her ALOT.
When she completed her FAFSA, did she mark that she'd be willing to do work-study? I ask because if she's in the school system I'm guessing she's in, the minimum pay is $10/hr. I know that means more interviews and leaving, at least, one of the jobs she's already landed, but the little bump in pay can add up. Also, I'm going to PM you.
I believe the desk job is work study but she gets minimum wage.
Does her work study job offset her student loan?
We were hiring students in our lab, and I was getting them in and they were quitting after a couple weeks. I went down and spoke to the contact person and was told that work study offsets the amount that students get in their loan package and that when they found this out, they preferred to just take the whole amount as a loan. This is for dental students (and we did pay $10/hour in a fairly LCOL area), so maybe the rules are different for them?
Agreed. RD is super intensive in her last year + internship (usually unpaid). I watched my SIL go through RD program and she was unable to work her last 9 months in school because it was too intense. So I'd not only help now but also plan for a time when she possibly cannot work while in her internship. So put aside 75 dollars a month for the last year?
*disclaimer: my SIL also had to drive 2-3 hours a day for her internship so that also ate into her day.
Post by explorer2001 on Apr 29, 2016 12:31:44 GMT -5
College me would have given a kidney for that kind of support. I know exactly how hard it can be to juggle school, working multiple jobs, and trying to stay healthy while not being able to afford enough/quality food.
My only question is how old are your other siblings and will they also need your help? It might be good to put a plan together to stay fair and not take on too much if you still have other younger siblings who may be looking for the same kind of help.
College me would have given a kidney for that kind of support. I know exactly how hard it can be to juggle school, working multiple jobs, and trying to stay healthy while not being able to afford enough/quality food.
My only question is how old are your other siblings and will they also need your help? It might be good to put a plan together to stay fair and not take on too much if you still have other younger siblings who may be looking for the same kind of help.
we have one more who starts college this fall. he received a better financial aid package, but yeah I couldn't deny him and help my sister.
I also need to keep an eye on my parents - I think my mom has $7,000 saved total (e-fund, retirement etc) and my dad has a very negative net worth still and is constantly behind on the mortgage etc. if he loses this home his credit is shitty enough that he'd have a hard time getting someone to rent to him.
and then I think we want kids one day and would like to be able to pay for college and leave them something when we pass.
so we do have a lot of excess income, but we also have quite a bit on our shoulders for two young DINKs.
If you're able to, I'd help. I worked 2 jobs in college and it was tough. I wouldn't wish that on anyone.
If you're planning to help her financially on a consistent basis over the next 2 years or so, you might want to look into opening a 529. Realistically, you can add money in, and for most there's no waiting period to then withdraw it for educational expenses. (I would only do this if you get a state tax break where you live.)
Also, I'd have her meet with a counselor at her school's financial wellness office (this is typically separate from financial aid.) Our university offers a program where students can sit with a counselor to go over in-depth budgeting to help them feel in control of finances and to build a good foundation.
Another work option - does she have a car and/or any experience with children? In my area you can make around $15/hr being an after school (or summer) nanny and I bet she'd be able to do some of her homework while nannying.
The only thing I think no one has already mentioned is: when it is time for her to fill out her FASFA for next year, maybe you should review it. If her parents aren't contributing at all, they can choose to not claim her on their taxes and she will qualify for more loans/grants. It might hurt them a little, but help her ALOT.
I know this advice comes from a good place, but this isn't accurate.
In the eyes of the FAFSA, students under the age of 24 are considered dependent even if parents are not paying any support for them. The only way to have this waived is to request an appeal from the school. However, most schools (including my own) only approve appeals for very specific situations (such as parents are incarcerated or in an extreme cases where a student can prove domestic violence in the home via police reports.)
It's EXTREMELY rare for a student under 24 to not to be required to submit the parent data on FAFSA.
If a parent submits a parent non-support statement, then the only aid a student will be eligible for is an unsubsidized loan. No grants at all. That's obviously not in their best interest.
I think helping her is awesome and the right thing to do. Look at it this way - you are covering her rent (a roof over her head), or her food/medical. Those are necessities, IMO, to help her achieve her goal.
I highly recommend budgetbytes.com as a resource for inexpensive food options that are very tasty and very healthy.
The only thing I think no one has already mentioned is: when it is time for her to fill out her FASFA for next year, maybe you should review it. If her parents aren't contributing at all, they can choose to not claim her on their taxes and she will qualify for more loans/grants. It might hurt them a little, but help her ALOT.
I know this advice comes from a good place, but this isn't accurate.
In the eyes of the FAFSA, students under the age of 24 are considered dependent even if parents are not paying any support for them. Â The only way to have this waived is to request an appeal from the school. However, most schools (including my own) only approve appeals for very specific situations (such as parents are incarcerated or in an extreme cases where a student can prove domestic violence in the home via police reports.)
It's EXTREMELY rare for a student under 24 to not to be required to submit the parent data on FAFSA.
If a parent submits a parent non-support statement, then the only aid a student will be eligible for is an unsubsidized loan. No grants at all. Â That's obviously not in their best interest.
FASFA website shows age 24 as a factor, but not a hard yes/no. If she is claiming herself on her own taxes and providing more than half of her own support, there is no logical reason that her parent's information needs to be on her FASFA. That is the way i was in college and when the college called and requested my parents info, I said they don't support me, they said ok, end of story.
I realize all situations are different, and things might have changed over the years, but it is something the OP should look into.
I know this advice comes from a good place, but this isn't accurate.
In the eyes of the FAFSA, students under the age of 24 are considered dependent even if parents are not paying any support for them. Â The only way to have this waived is to request an appeal from the school. However, most schools (including my own) only approve appeals for very specific situations (such as parents are incarcerated or in an extreme cases where a student can prove domestic violence in the home via police reports.)
It's EXTREMELY rare for a student under 24 to not to be required to submit the parent data on FAFSA.
If a parent submits a parent non-support statement, then the only aid a student will be eligible for is an unsubsidized loan. No grants at all. Â That's obviously not in their best interest.
FASFA website shows age 24 as a factor, but not a hard yes/no. If she is claiming herself on her own taxes and providing more than half of her own support, there is no logical reason that her parent's information needs to be on her FASFA. That is the way i was in college and when the college called and requested my parents info, I said they don't support me, they said ok, end of story.
I realize all situations are different, and things might have changed over the years, but it is something the OP should look into.
You were very lucky that your school okayed it. I went through hell in college trying to get aid, work study, anything because my parents refused to support me but the school didn't care. I had meeting with deans and everything and was literally told it sucks that you can't afford food, but if we made an exception for you a bunch of other rich parents would choose not to support their kids in college and we can't afford to set that precedent.
Plus to keep my academic merit scholarships I was required to include my parents info.
I know this advice comes from a good place, but this isn't accurate.
In the eyes of the FAFSA, students under the age of 24 are considered dependent even if parents are not paying any support for them. The only way to have this waived is to request an appeal from the school. However, most schools (including my own) only approve appeals for very specific situations (such as parents are incarcerated or in an extreme cases where a student can prove domestic violence in the home via police reports.)
It's EXTREMELY rare for a student under 24 to not to be required to submit the parent data on FAFSA.
If a parent submits a parent non-support statement, then the only aid a student will be eligible for is an unsubsidized loan. No grants at all. That's obviously not in their best interest.
FASFA website shows age 24 as a factor, but not a hard yes/no. If she is claiming herself on her own taxes and providing more than half of her own support, there is no logical reason that her parent's information needs to be on her FASFA. That is the way i was in college and when the college called and requested my parents info, I said they don't support me, they said ok, end of story.
I realize all situations are different, and things might have changed over the years, but it is something the OP should look into.
I looked into it for myself (same parents, lol) and had the experience others have posted about -- even though I was self-supporting and not living in the same state as my parents during school breaks, parental info had to go on FASFA. I was very bitter about this.
they still wanted parental info for graduate school even though I was living with my then-boyfriend and claiming myself. I opted out because my dad couldn't get his sh*t together to file taxes in time. not providing parental info prevented me from getting $$$$$ in subsidized loans I was otherwise entitled to.
I know this advice comes from a good place, but this isn't accurate.
In the eyes of the FAFSA, students under the age of 24 are considered dependent even if parents are not paying any support for them. Â The only way to have this waived is to request an appeal from the school. However, most schools (including my own) only approve appeals for very specific situations (such as parents are incarcerated or in an extreme cases where a student can prove domestic violence in the home via police reports.)
It's EXTREMELY rare for a student under 24 to not to be required to submit the parent data on FAFSA.
If a parent submits a parent non-support statement, then the only aid a student will be eligible for is an unsubsidized loan. No grants at all. Â That's obviously not in their best interest.
FASFA website shows age 24 as a factor, but not a hard yes/no. If she is claiming herself on her own taxes and providing more than half of her own support, there is no logical reason that her parent's information needs to be on her FASFA. That is the way i was in college and when the college called and requested my parents info, I said they don't support me, they said ok, end of story.
I realize all situations are different, and things might have changed over the years, but it is something the OP should look into.
Well, I work in financial aid compliance for a major university, so Im confident in my guidance.
Not to say you're wrong, as some schools choose to stretch their policies against the intentions of the department of ed's policies. But over the years, this has tightened up a lot for all institutions due to rampant abuse by less than reputable schools. Some would consider anything on earth to make people eligible for Pell grants, which was then a straight revenue stream lining the pockets of for profits and diploma mills.
Ps - sorry to semi threadjack. I always feel the need pipe in on Fafsa conversations.
I am very glad you guys decided to help her. I am also proud of MM for supporting this because you never know lol. Based on the little you've told us about her, I do not think you will have any regrets .
Can you post her budget? Does she have a roommate? Any other expenses she can cut?
I also worked 3 jobs at once while going to school FT but I was working 60 hours total, and it was stressful but I made it work. Yeah, you're don't want her to be burnt out but I know I would be even more stressed thinking of how I would repay my sibling for giving me that money (even if you said not to pay you back, I would feel guilty).
Does she like kids? I would consider looking into nannying gigs because they pay more. Maybe you could pay for her to be CPR certified but she can sell herself based on her major that healthy choices are important to herz
she has roommates. the big thing to cut in her budget is her sorority, IMO. she told me she'd rather not eat, which I believe. the sorority also seems to be good for her resume. she's the fundraising chairman/woman whatever and repeatedly exceeds fundraising goals for women's charities. she's really good. it's the one extracurricular she's involved in.
budget: 6 month averages Rent $365 Utilities $70 Food $240 (was $299) sorority $85 cash $20 (was $120) entertainment$25 (was $40) medical $40 bus$12 school fees/books: $145 misc $31 (she has some random checks we couldn't figure out) clothes/household/etc shopping. $70 (was $215... but some of this was reimbursable as she would buy things for the charity drives. mint is kind of a mess right now) incidentals and late fees: $75 (I'm hoping this turns into savings now that we have a better hold on her finances - she also had a drinking ticket and lawyer fee but she has sworn off college parties now).
Her sorority may have scholarships available through its foundation. When I sat on our foundation board we have out about 110k in scholarships. They may also have hardship grants.
I have a few opinions (surprise, surprise) so I'm throwing them into the mix:
- In this situation, I would also have no reservations. She's working hard, she's being transparent with money, she has a reasonable budget. Her sorority dues are high, but cutting those would take a chunk out of her resume and probably hurt her personally (she'd miss out on that community), so not worth it.
- I don't agree that you have to be "fair" with your other sibling. Siblings are like snowflakes - every sibling is unique. So, as your other sib enters college, they may be in a different situation, etc. I'm not saying to stiff the other sib if they were in trouble, but only to say, I'd actually consider addressing it upfront with sib 2.
- You mentioned your sister possibly feeling "guilty" about the help. I am not sure if this has come through as you have shared the plan with her, but I think if you let her know that one of the amazing gifts of a healthy income is being able to be generous and pay it forward...and that you welcome the opportunity to help her, and you are sure that in the future she is putting herself in the place to do the same for another...that might help.
@shoegal thank you. Your post made me smile. In typical college student fashion, I was only able to catch her on face time while she was in a towel rushing to get ready for class lol. I wanted to share the news with her sooner rather than later because I know it will alleviate some stress and allow her to focus on wrapping up this semester.
At first she didn't understand. When I told her my husband and I wanted to pay her rent, she thought just for this month. When she realized we meant through college (unless her circumstances change), her voice cracked and she just said "no no, what? No"
I told her we love her and think the world of her and she's doing her best and that we *want* to help since we are in a position to do so. She got a little teary eyed, I quickly outlined the ground rules (grades, no plasma donation, transparency) and told her we could go through details later. She was so, so grateful. And I know it's the right decision for us, because I felt an immediate weight off my shoulders. More relief than I can remember feeling from any singular decision.
Ps that is also a great rec to be upfront with the youngest. I thought it might be best to keep this quiet but 1) he should know he has support if he needs it 2) that prevents hurt feelings down the road if someone feels they've been lied to (by omission)
I teared up a little just now, tacom! I've learned through experience with my own family that being candid about money is better - I think you're right that it will prevent any hurt feelings down the road. And, personally, I believe that if we all (as a society) talked a little more about money, we'd make better choices, too.
Those who feel talking about money is "tacky" or "forbidden" contribute to a society in which only a few (educated, privileged) people feel they have a good grasp on their personal finances / make good choices, etc.
I want to second the suggestion to check with the sorority foundation for scholarships. Serving as an adviser, I've learned that many women aren't aware that help is there, so there is a big untapped resource (this may vary by organization). Definitely worth checking out. They'll also do loans.
tacom,you and your dh are so nice to do this and your sister sounds like such a sweet girl and a hard worker.
I also just wanted to tell you that, in addition to the money you're helping her with, you are doing her such a favor by being an example of how to budget, save, share when needed/able, etc. I wish I would have had that kind of an example when I was her age.
Post by MadamePresident on Apr 30, 2016 16:13:05 GMT -5
I think its kind of you to help her. I don't think its enabling at all. You know her budget and she seems very receptive to your advice. Its kind of you to help her and since you have the means I don't see a good reason to not.