Student Loan ?

[Boozer]

Anyone know much about these things?
I applied today but was denied immediately due to something about not making the cut off for being an independant student. Apparently the feds say that at age 23 I'm not old enough to apply for student loans independantly and my parents must apply for them for me.
I was also told that if my parents obtain the student loans for me I only qualify for 50% of the money to be funded by the feds and the other 50% must be funded through this student plus loan which is basically a private bank offering money for a loan at a higher interest rate then fed money and monthly payments must also start being made immediately after the loan has funded.
Is there anyway to get around this crap? Federal education loans are at an interest rate of 2.7% right now the student plus loans are at like 8%. I'd like to hold out and get the 2.7% loans that dont have to paid back until 6 months after completing my education.
I'd like to be able to get student loans without my parents being involved at all. I'm an adult and the financial responsibility should be my own not theres. Not to mention that student plus loan is bullsh*t.
Any info is appreciated.

[Kilrtoy]

Anyone know much about these things?
I applied today but was denied immediately due to something about not making the cut off for being an independant student. Apparently the feds say that at age 23 I'm not old enough to apply for student loans independantly and my parents must apply for them for me.
I was also told that if my parents obtain the student loans for me I only qualify for 50% of the money to be funded by the feds and the other 50% must be funded through this student plus loan which is basically a private bank offering money for a loan at a higher interest rate then fed money and monthly payments must also start being made immediately after the loan has funded.
Is there anyway to get around this crap? Federal education loans are at an interest rate of 2.7% right now the student plus loans are at like 8%. I'd like to hold out and get the 2.7% loans that dont have to paid back until 6 months after completing my education.
I'd like to be able to get student loans without my parents being involved at all. I'm an adult and the financial responsibility should be my own not theres. Not to mention that student plus loan is bullsh*t.
Any info is appreciated.
Yeah become a minority they hand that shit out likecandy on halloween, Sorry to hear that Boozer

[switchin'addiction]

Quit your job, become a loser & they will give you all you need. Try and show some responsibiity like possibilty footing part of the bill yourself & you will be denied. Trust me....been there, done that. Although that has been 12yrs ago, and some of the rules may have changed I do know the system still is a joke.
Sorry for the troubles. I know it is frustrating.

[Boozer]

Yeah become a minority they hand that shit out likecandy on halloween, Sorry to hear that Boozer
It's funny you say that. I was just thinking.
I could move to Mexico and surrender my american citizenship. Also change my last name to Garcia when I get over there. Come back over here illegaly 6 months later. Get a job that pays 12-15 bux an hour and steal someones social security number. Claim tax exempt because f*ck it its not my social that the irs is going to audit and get to keep all but 9% of my 15 bux an hour as opposed to the current 35-40% of my current income. Shortly thereafter I'll apply for amnesty and upon being granted amnesty I'll apply for all the grants and funding I can find and get my education paid for 100%. Upon completeion of my education I'll get a 6 figure job steal another dead guys social and go tax exempt again. Not to mention the cost savings on healthcare I'll be getting by not paying for health insurance because hey if I get sick or something they have to treat me and since im using someone elses soc who cares about credit right? Live off of about 30K a year here for 10 years and send the 90-100K left over down to Baja where I'll be having a Palace built. At the ripe old age of 45 I'll retire to my beach front 25,000 sqft mansion.
And of course I'll have kids in the process but I'll make sure they are born in Mexico and smuggled over here illegaly so they can get the same free ride their daddy got.
What do you think?

[switchin'addiction]

Sounds as if you have put some thought into this? :idea: :D

[Kilrtoy]

It's funny you say that. I was just thinking.
I could move to Mexico and surrender my american citizenship. Also change my last name to Garcia when I get over there. Come back over here illegaly 6 months later. Get a job that pays 12-15 bux an hour and steal someones social security number. Claim tax exempt because f*ck it its not my social that the irs is going to audit and get to keep all but 9% of my 15 bux an hour as opposed to the current 35-40% of my current income. Shortly thereafter I'll apply for amnesty and upon being granted amnesty I'll apply for all the grants and funding I can find and get my education paid for 100%. Upon completeion of my education I'll get a 6 figure job steal another dead guys social and go tax exempt again. Not to mention the cost savings on healthcare I'll be getting by not paying for health insurance because hey if I get sick or something they have to treat me and since im using someone elses soc who cares about credit right? Live off of about 30K a year here for 10 years and send the 90-100K left over down to Baja where I'll be having a Palace built. At the ripe old age of 45 I'll retire to my beach front 25,000 sqft mansion.
And of course I'll have kids in the process but I'll make sure they are born in Mexico and smuggled over here illegaly so they can get the same free ride their daddy got.
What do you think?
BOOZER THAT IS F U C K E D UP, but damn that is the truth , you hit the nail on the head.... and that pisses me off

[voodoomedman]

Boozer,
All kidding aside. You need to have your parents apply for the plus loan. (parents loan for undergraduate students). If there credit sucks and they are denied then you can apply for the loans and get them. Better if your parents get the loan because then they get to pay it back and not you. The only other way to do it yourself and be an independent student is to wait until you are 25 or you need to get married.

[totenhosen]

I use to work for BofA in student loans. Just apply for the student loans next year when you are 24 that is when the government considers you independent. Just fill out the FAFSA form (which it sounds out like your alreday did) but if possible also ahve your parents do it. Just play the game and see what you and they qualify for.
Trust me I know it sucks I had people call and complain all the time that since the age of 18 people's parents were no longer supporting them and that they were trully indepedent. Gov't did not care even if you hadn't seen your parents since birth.
Don't get me started on not getting scholarships. My best friend and I both applied to the same school. I was white he is Mexican. His parents made more money than mine, I had better grades, better SATS etc. However he got a full ride and I got offered $5k in stafford loans for a school that cost $20k+ a year. Needless to say he went and I didn't. And this was all after the proposition past that said schools could not base financial aid on race. School flat out denied doing it ass well. They lied to me saying he must of had better grades or ??? I knew they were lying because I knew my friend and his parents since 1st grade.

[lucky]

It's funny you say that. I was just thinking.
I could move to Mexico and surrender my american citizenship. Also change my last name to Garcia when I get over there. Come back over here illegaly 6 months later. Get a job that pays 12-15 bux an hour and steal someones social security number. Claim tax exempt because f*ck it its not my social that the irs is going to audit and get to keep all but 9% of my 15 bux an hour as opposed to the current 35-40% of my current income. Shortly thereafter I'll apply for amnesty and upon being granted amnesty I'll apply for all the grants and funding I can find and get my education paid for 100%. Upon completeion of my education I'll get a 6 figure job steal another dead guys social and go tax exempt again. Not to mention the cost savings on healthcare I'll be getting by not paying for health insurance because hey if I get sick or something they have to treat me and since im using someone elses soc who cares about credit right? Live off of about 30K a year here for 10 years and send the 90-100K left over down to Baja where I'll be having a Palace built. At the ripe old age of 45 I'll retire to my beach front 25,000 sqft mansion.
And of course I'll have kids in the process but I'll make sure they are born in Mexico and smuggled over here illegaly so they can get the same free ride their daddy got.
What do you think? i think ya would have won the lottery !!!!

[jdogginla]

Just chimming in on my expierence..........on the same subject but not exactly your situation. Two years ago, I left a job that paid me 6 figures to take a position in the same area but with lesser responsibility and ALOT less money! Approx 50k less, in order to go to school. I waited 6 months and then tried to apply for my school loan. They laughed me out of the office......said I made waayyy too much money. They were going off my previous two years of W2's. I explained to them that I no longer make that kind of money and showed them proof of income. They said sorry charley....NO Can Do! 50k may sound like a decent living, but not when you have house payments, car payments and the such from living off of a 6 figure income. I had to eventually decide what was more important to me.......So I bit the bullet, eventually got rid of the expensive car, cut all my costs down, and my girl helped me with a lil money. I HUMPED the shizit out of school, doubled up on classes etc just to hurry up and finish. I made school payments of $700.00 a month........finished school, and have yet to leave my current job to apply all the knowledge! Go Figure, LOL.
Anyways..........I guess what I am trying to say is don't let obstacles stand in your way. If it's what you want find a way and go get it.

[Nubbs]

Boozer,
Good luck to you on the student loans. I don't remember exactly how the deal went. I went to college straight out of high school in 95. I had to fill out the FAFSA forms and all the other bs. Part of the forms required my parents information. Several things screwed me on my application. My parents are still married, make more than a combined 50K, and we're white (Dutch, but there's no box on the form for that :D ). Over the 5 years I was in school, I got the maximum of tax deferred loans I could get, almost 17K. It definitely helped, but I still needed loans through a family friend to make it through. On the other hand, an old roomate of mine had divorced parents. He got tons of free money and a state mandated job on campus. His parents combined to make well over 100K, yet he still got way more than me. I also knew several people that didn't have to put an "X" in the "white" box on the FAFSA forms. They did quite well with the loans. Good luck with the process. Even though it's very unfair, getting a little money is better than none if you can.
Nubbs

[TBONE1904]

I was lucky b/c I qualified for grants for the first 4 years. After i turned 24 i was able to get student loans on my own. I decide to take them out to finish my race car!! I would just advise you to squeak by the first year and them, assuming your income is low, you will qualify when you turn 24. After your official, with a degree, paying the $150 a month is nothing. Good Luck
-Later

[Catatonic]

Boozer, I went through these guys for my undergrad degree:
Nelnet Inc.
888-486-4722
I'm looking at one of the old payment stubs and my rate was 3.570% on one loan and 2.770% on the other. I was 22 when I went to school and my parents didn't have to sign anything. Good luck.

[sorry dog]

If you were claimed as a dependent on recent tax return of your parents then you have to go though them and qualify on their income level.
If they didn't you probably have to show proof that you are truly independent. For a friend of mine they wouldn't budge until she showed them that her mother was in jail. :hammer2:

[totenhosen]

If you were claimed as a dependent on recent tax return of your parents then you have to go though them and qualify on their income level.
If they didn't you probably have to show proof that you are truly independent. For a friend of mine they wouldn't budge until she showed them that her mother was in jail. :hammer2:
Usually that isn't even enough because they'll say you have a father. They'll require you to submit an emancipation form.