Expert: David Disraeli - 7/22/2009

Question
I am 27 yrs old,  married with two kids. I was laid off 2
months ago and my unemployment has run out. I want to go to
school but even with the 5K i get per yr in a pell grant
that doesnt cover the cost of living. How do i make sure I
get the maximum available to me
Thanks

Answer
I'm afraid you can't get living expenses without going into debt.  In any event you'll have to file what's known as the FASFA to see what you qualify for.  Unfortunately, even though you are not working they will count your last year's income.  Sounds crazy but it is true.  The only way around that is to work directly with a school to overcome the issue of using last year's tax return.  My guess is you'll have to work part time and go to school.  Let me know if you need any other help.

David Disraeli CFP