At what age are you considered independent for financial aid?

24 or older
A student age 24 or older by Dec. 31 of the award year is considered independent for federal financial aid purposes.

What happens if you can’t pay for college?

Get a job, start paying down current student debt, save money, or take fewer classes and pay your tuition out-of-pocket. If your parents can assist, don’t overlook private student loan options. Or maybe use a low rate credit card to pay for a few classes.

What if I can’t afford college for my child?

Your child should fill out the Free Application for Federal Student Aid (FAFSA®) to apply for financial aid, including federal student loans. Private student loans can help cover any additional costs not covered by savings, grants, scholarships and federal student loans.

What parents pay for college?

As of last year, the amount families actually paid was $26,373, on average, according to Sallie Mae’s annual “How America Pays for College” report. That figure is relatively unchanged from a year earlier.

What happens if my parents don’t pay for my college?

If not, you are considered to be dependent on your parents and their income and resources will determine your eligibility for assistance. If your parents refuse to pay, you will have to make up the difference. The school and the government will not help. Learn more: Federal Financial Aid and the FAFSA Independent Student

Do parents have a legal duty to pay for their child’s College?

Parents do not have a legal duty to pay for their child’s college—with one exception. Recently, there’s been a lot of debate over whether parents should be responsible for their child’s postsecondary educational expenses.

How can I convince my parents to help me get financial aid?

Your first goal should be to encourage your parents to complete the financial aid forms. Even if they don’t want to help you pay for college costs, by refusing to complete the forms they prevent you from getting aid on your own account (e.g., government grants and student loans).

Should you pay for your child’s college or save for retirement?

On the other hand, paying for a child’s college can come at the expense of saving for one’s retirement, and it can be difficult to decide which should take priority. While the question of moral duty is hardly an easy one to answer, that of legal duty is, luckily for us, much more straightforward.