Parents pay tuition

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
tinyone
Posts: 116
Joined: Tue Nov 10, 2009 5:22 pm

Parents pay tuition

Postby tinyone » Fri Apr 02, 2010 12:58 pm

If your parents pay your tuition will that affect your ability to receive loans for living expenses? I don't know if they'd claim me as a dependent or not.

User avatar
hannibalhamlin61
Posts: 69
Joined: Wed Dec 09, 2009 6:28 pm

Re: Parents pay tuition

Postby hannibalhamlin61 » Fri Apr 02, 2010 12:59 pm

Are you 16 year's old? If so, congrats on graduating college at such a young age...

User avatar
UFMatt
Posts: 404
Joined: Sun Jul 26, 2009 2:59 pm

Re: Parents pay tuition

Postby UFMatt » Fri Apr 02, 2010 12:59 pm

Aren't you guaranteed the ~$20k in Stafford loans, regardless of income? I'm not sure whether that would be ablated by parental contribution/dependency.

Z3RO
Posts: 526
Joined: Thu Sep 03, 2009 11:57 am

Re: Parents pay tuition

Postby Z3RO » Fri Apr 02, 2010 1:02 pm

hannibalhamlin61 wrote:Are you 16 year's old? If so, congrats on graduating college at such a young age...

There was a poll not too long ago asking how much debt people graduated undergrad with, and the most popular answer by far (it was around 48% last I saw) was $0.

You might not be one of those people, but don't act like TLS is anything other than a forum crawling with trust-fund-kids (whether some of us worked in college or not). If you're gonna come here, don't be self-righteous about not fitting in. If you fit in, then cut out the hypocrisy.

Pearalegal
Posts: 1433
Joined: Fri Jan 30, 2009 10:50 am

Re: Parents pay tuition

Postby Pearalegal » Fri Apr 02, 2010 1:08 pm

Z3RO wrote:
hannibalhamlin61 wrote:Are you 16 year's old? If so, congrats on graduating college at such a young age...

There was a poll not too long ago asking how much debt people graduated undergrad with, and the most popular answer by far (it was around 48% last I saw) was $0.

You might not be one of those people, but don't act like TLS is anything other than a forum crawling with trust-fund-kids (whether some of us worked in college or not). If you're gonna come here, don't be self-righteous about not fitting in. If you fit in, then cut out the hypocrisy.


*cough*

I agree that the person your responding to was a dick, but I don't think that whatever sort of debt you have means that you "fit in" or not (online where people don't use their real names).

However, OP in no way came across as entitled and was asking an understandable question. Don't be bitter because someone else comes from a rich family who wants to give him the money to go to school and he wants to accept it. You'll exhaust yourself.

Feel proud you'll be paying for your education on your own, and acknowledge the luck the other person has. And move on. Don't talk down to someone for their life circumstances you know nothing about.

User avatar
hannibalhamlin61
Posts: 69
Joined: Wed Dec 09, 2009 6:28 pm

Re: Parents pay tuition

Postby hannibalhamlin61 » Fri Apr 02, 2010 1:15 pm

Z3RO wrote:
hannibalhamlin61 wrote:Are you 16 year's old? If so, congrats on graduating college at such a young age...

There was a poll not too long ago asking how much debt people graduated undergrad with, and the most popular answer by far (it was around 48% last I saw) was $0.

You might not be one of those people, but don't act like TLS is anything other than a forum crawling with trust-fund-kids (whether some of us worked in college or not). If you're gonna come here, don't be self-righteous about not fitting in. If you fit in, then cut out the hypocrisy.


I was just trying to understand how someone could be claimed as a dependent for the duration of law school, until they are 25+ years old? assuming this kid is actually 21/22 (or older...). And honestly I have no problem with these other kids on the playground who's parents are whiping their asses all the way through undergrad. Maybe mommy & daddy will help them with their law school homework & biglaw assignments as well.
Last edited by hannibalhamlin61 on Fri Apr 02, 2010 1:27 pm, edited 2 times in total.

junelsat
Posts: 66
Joined: Fri Apr 24, 2009 10:06 pm

Re: Parents pay tuition

Postby junelsat » Fri Apr 02, 2010 1:16 pm

hannibalhamlin61 wrote:Are you 16 year's old? If so, congrats on graduating college at such a young age...



Its funny that this response is infinitely more immature than the idea of one's parents paying for law school

tinyone
Posts: 116
Joined: Tue Nov 10, 2009 5:22 pm

Re: Parents pay tuition

Postby tinyone » Fri Apr 02, 2010 1:16 pm

I didn't think I was going to need to explain myself but I will so maybe someone will give me an answer to my question. I was estranged from my Dad while I was in undergrad and I paid for my undergrad. We've re-developed our relationship and he offered to pay for my law school out of the blue yesterday sooo...give me a break. I'm not a trust fund baby.

I realize you cant be claimed as a dependent once you're 24 y.o. So since I filed as an indpendent this year and will be 24 by the time I being my 3L, this should really only matter for my 2L. And I would think that my Dad would do it only for the tax break.
Last edited by tinyone on Fri Apr 02, 2010 1:18 pm, edited 1 time in total.

User avatar
toolshed
Posts: 315
Joined: Thu Jun 18, 2009 1:35 pm

Re: Parents pay tuition

Postby toolshed » Fri Apr 02, 2010 1:16 pm

Z3RO wrote:
hannibalhamlin61 wrote:Are you 16 year's old? If so, congrats on graduating college at such a young age...

There was a poll not too long ago asking how much debt people graduated undergrad with, and the most popular answer by far (it was around 48% last I saw) was $0.

You might not be one of those people, but don't act like TLS is anything other than a forum crawling with trust-fund-kids (whether some of us worked in college or not). If you're gonna come here, don't be self-righteous about not fitting in. If you fit in, then cut out the hypocrisy.


I have no UG debt, and my family barely made it to lower-middle class.

TLS is full of over achievers. Overachievers who probably had the options of going to a school on a great scholarship. Thus no undergrad debt.

Z3RO
Posts: 526
Joined: Thu Sep 03, 2009 11:57 am

Re: Parents pay tuition

Postby Z3RO » Fri Apr 02, 2010 1:18 pm

Pearalegal wrote:
Z3RO wrote:
hannibalhamlin61 wrote:Are you 16 year's old? If so, congrats on graduating college at such a young age...

There was a poll not too long ago asking how much debt people graduated undergrad with, and the most popular answer by far (it was around 48% last I saw) was $0.

You might not be one of those people, but don't act like TLS is anything other than a forum crawling with trust-fund-kids (whether some of us worked in college or not). If you're gonna come here, don't be self-righteous about not fitting in. If you fit in, then cut out the hypocrisy.


*cough*

I agree that the person your responding to was a dick, but I don't think that whatever sort of debt you have means that you "fit in" or not (online where people don't use their real names).

However, OP in no way came across as entitled and was asking an understandable question. Don't be bitter because someone else comes from a rich family who wants to give him the money to go to school and he wants to accept it. You'll exhaust yourself.

Feel proud you'll be paying for your education on your own, and acknowledge the luck the other person has. And move on. Don't talk down to someone for their life circumstances you know nothing about.

You're right; I don't really mean "fit in", as much as "match the description".

tinyone wrote:I didn't think I was going to need to explain myself but I will so maybe someone will give me an answer to my question. I was estranged from my Dad while I was in undergrad and I paid for my undergrad. We've re-developed our relationship and he offered to pay for my law school out of the blue yesterday sooo...give me a break. I'm not a trust fund baby.

I'm sorry; I didn't mean to imply that you were. I was just saying that TLS isn't the place to be a dick about parents paying for shit.

User avatar
holydonkey
Posts: 1184
Joined: Fri Dec 18, 2009 1:40 pm

Re: Parents pay tuition

Postby holydonkey » Fri Apr 02, 2010 1:19 pm

Ok, so anyway back to the question at hand, after you fill out your fafsa, your school will have access to your Expected Family Contribution number - see http://www.finaid.org/calculators/finaidestimate.phtml If you have a high EFC, this can reduce the amount of loans you receive. However, after EFC is determined, I don't think who pays the loans matter. So if the question is, might I have access to fewer grad plus loans if my parents are richer than Oman and claim me as a dependent, the answer is yes. If the question is, after my EFC has been determined and I've received my financial aid package from my school, can my loan amounts be reduced based on how tuition is being paid, I think the answer is no.
Last edited by holydonkey on Fri Apr 02, 2010 1:27 pm, edited 1 time in total.

tinyone
Posts: 116
Joined: Tue Nov 10, 2009 5:22 pm

Re: Parents pay tuition

Postby tinyone » Fri Apr 02, 2010 1:23 pm

Thanks donkey. I am confused how the EFC is calculated. When I filled out the FASFA this year I didn't enter any information regarding my parents' income and my EFC was approx $8,000.00. So when I file my FASFA next year will it change?

User avatar
hannibalhamlin61
Posts: 69
Joined: Wed Dec 09, 2009 6:28 pm

Re: Parents pay tuition

Postby hannibalhamlin61 » Fri Apr 02, 2010 1:24 pm

For the record I have no Ugrad debt either. Can I join the club now??? I'm sorry I came off as a dick. I was just saying that the OP could not be claimed as a dependent.

In an attempt to be more 'helpful': If you were estranged from your father & really recieving no assistance I hope that was taken into consideration for your loans. Tell your Dad to cut you checks on the side or help pay for law school after the fact (in repaying your loans).

Scurredsitless1
Posts: 284
Joined: Tue Jun 09, 2009 12:47 pm

Re: Parents pay tuition

Postby Scurredsitless1 » Fri Apr 02, 2010 1:24 pm

I'm certain this is not a situation uncommon to the financial aid people at your school. Call 'em up!

Good Luck!

Scurredsitless1
Posts: 284
Joined: Tue Jun 09, 2009 12:47 pm

Re: Parents pay tuition

Postby Scurredsitless1 » Fri Apr 02, 2010 1:28 pm

Taking out subsidized loans and repaying them immediately after school seems like a good idea. You can make interest on interest-free loans......

Might be illegal though... seems like it....

User avatar
holydonkey
Posts: 1184
Joined: Fri Dec 18, 2009 1:40 pm

Re: Parents pay tuition

Postby holydonkey » Fri Apr 02, 2010 1:31 pm

tinyone wrote:Thanks donkey. I am confused how the EFC is calculated. When I filled out the FASFA this year I didn't enter any information regarding my parents' income and my EFC was approx $8,000.00. So when I file my FASFA next year will it change?
I don't believe you will need to file FAFSA again next year. I'm pretty sure this is a one time deal, but, as mentioned above, the best answer will definitely come from your school's financial aid office. Don't be afraid to ask them, they will happily take anyone's money and won't rat you out.




Return to “Financial Aid”

Who is online

Users browsing this forum: No registered users and 2 guests