Expert: Tim G - 4/1/2009

Question
Hello Tim
I have a question about the fafsa, I am 20 years old, I am not married nor in the military, I have been living on my own for a year, and they have not claimed me in three year. My parents make of the maximum amount in order for me to get any kind of grants. I am able to support myself completely and I have talked to my school about changing my dependence and I know about scholarships. Is there anyway way for me to recieve any kind of pell grants from the government? Can you please help me my student loans are getting high already.

Answer
Doing the paperwork to change your status from dependent to independent is all you need to do. Once you are independent, your income from last year is used to determine if you can receive PELL/other grants. If you made less than 20,000 (30,000 for 09/10...regulations are changing) last year the school should give you an auto-EFC of 0 (which is full PELL).

Harass your college to hurry up the paperwork for the independent status (some schools are slow)...call them every day until it is finished.


for the EFC part:

If you made 25,000 last year, I see no reason why you couldn't have an EFC between 0-500 (depending on other factors).

For the high loans, try sending the lender 50 dollars every month while you are in school (if you can). Doing this lowers your monthly payment after your six month deferment when you have finished school (four year degree = 4 * ($50* per month * 12 months) = $2400 paid towards loans).