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Thread: Wah! I Wanna Go Back To School!

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    Newbie Etoileslair's Avatar
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    Sad Wah! I Wanna Go Back To School!

    Which wouldn't be too hard, but I'm looking to get something called a "dependency override," basically letting me apply for financial aid despite the fact that my parents are earning hundreds of thousands of dollars a year and I'm still under 25. Why? Well, we don't talk, and I sure as hell ain't gonna see any of that $$$ any time soon.

    Unfortunately, this requires that I tell them how I've been getting by. And these people very very rarely grant these overrides. Am I screwing myself by telling the nice government employees that I'm stripping? Will they decide not to help me out in favor of granting money to some chick who decided to bartend or file documents instead?

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    God/dess cinammonkisses's Avatar
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    Default Re: Wah! I Wanna Go Back To School!

    In all honesty, you're parents earning so much money per year...yea your school will 9x-outta 10 will not override that.

    And even with you dancing is not going to help sway them either. Just work, stack your money and pay off school. You could always get a scholarship..and long as it isnt' based on financial need.







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  3. #3
    Yekhefah
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    Default Re: Wah! I Wanna Go Back To School!

    You don't want loans anyway, trust me. If it's grants you're going for... be honest, but don't expect to succeed. My parents didn't cover my schooling either, and I had to work my heinie off to pay for it myself, but at least I finished without loans. Those loans will destroy your life.

  4. #4
    BrunetteGoddess
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    Default Re: Wah! I Wanna Go Back To School!

    I hated that, I got offered crap because my parents do pretty well for themselves. Its one of the reasons I moved out, to qualify for myself. I know nobody else is paying for my schooling but me!

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    Banned Melonie's Avatar
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    Default Re: Wah! I Wanna Go Back To School!

    I agree it's highly doubtful that in this age of widespread screaming about rising tuitions at both public and private universities, and in this age of state budget deficits and federal social spending cuts (well, cuts in the planned rate of spending growth anyhow), that a gov't agency is going to authorize a 'dependency override' to provide gov't funded educational benefits to a student whose family income falls in the top 5% earnings bracket.

    Your most probable avenue of success would be to declare emancipation from your parents. This would then make you eligible for grants/loans based on your income alone versus total family income. But this would also almost certainly prevent your parents from counting you as a dependent on their tax return, which could significantly increase their tax liability (while reducing your own). Depending on the nature of your parents' employers' health insurance coverage, it may or may not cost you your dependent health insurance coverage under your parents' policy.

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    Featured Member Lizette's Avatar
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    Default Re: Wah! I Wanna Go Back To School!

    Are you living in the US? How old are you? If you are 23+, you are not dependent on your parents according to the FA guidlines. If you can afford school yourself with a proper budget, please do not rip off financial aid. You would be taking from someone who earns $6/hour and really needs it. I hated it when the Pell Grant pool dried up and I couldn't attend the summer semesters. Back then I was earning $200/week.

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    God/dess Deogol's Avatar
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    Default Re: Wah! I Wanna Go Back To School!

    I gotta go with what Lizette said. It stopped me from going to school actually. There literally wasn't any money in my pocket to pay the bill. If you can sacrifice a pair of shoes then do that!

    FA is more than fucked up. I too had problems with my parents (my dad drank all the money.) But FinAid said my parents should front that money. I explained how it is and while she was sympathetic - rules are rules.

    Meanwhile, I was considering welfare (lived in the far north - its not like you can go down to the local gas station to get a job if there are only two in the whole town.) Of course welfare said, if you go to school you don't qualify for welfare. Tuition or food ... tuition or food...

    FinAid said if I had joined (active duty) military then I would be considered an adult - but of course ya know - not much time to go to school being in the military. But ya know...

    These days I have nothing but disgust and loathing for the government. If I can have as little interaction with them as possible I do it. I pay my taxes and I vote.

    Otherwise, as Katrina has proven spectacularily - government doesn't get shit done. I knew this as far back as 1987. It is all talk and hot air. They go on about helping this and that and then have a rule book the size of a metro phone book. I believe those rules are there specifically to disqualify as many people from getting promised money as possible.

    The only thing you can count on government for is hurdles and road blocks.

    This is about to become a rant - so I will stop right here.

    Don't pay for school with loans. They totally wrecked my life and my credit rating for years. All it takes is two months of bad luck (or job hunting) and your late - and that shit follows you seven years after the loan(s) are paid off. If you encounter even worse luck and have to choose between food, car, roof or loans - generally the loans come last which fucks things up even more.

    I am reading a book called "Strapped" right now. It seems pretty fucking accurate to my life and I am one of the lucky ones. () It will let ya know what you are in for. Don't be depressed, just be aware of what you are facing so you can plan for it.

  8. #8
    madmaxine
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    Default Re: Wah! I Wanna Go Back To School!

    ^ Yeah, I read a review of "Strapped"- I'll buy it when I can allot the funds to get it...

    Melonie's advice here is the best, as usual. I am in your boat too, in the sense that I can't ask my parents for help. My plan is to take my time getting through college so I can pay more out of pocket...I hate getting into debt.
    I would suggest you figure out what you're good at doing and make inroads to get internships in that field- often one can win a desired job without finishing school if you make the right connections. I HATE that aspect of life, BUT it's the truth.

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    Default Re: Wah! I Wanna Go Back To School!

    Have you considered taking classes either via correspondence or on-line? Or do you really have your heart set on the on-campus experience? And how many credits have you already completed?

    Here is one possibility for independent study classes. I'm sure there are a decent number of others, some of which might be less expensive. Just do some internet searches on university-level independent study and off-campus degree programs.

    http://scs.indiana.edu/

    IU also has an Associate in General Studies, which I believe can be completed entirely by correspondence, internet work, etc. But I think I'd want to actually attend a university on-campus the last two years for a bachelor's degree. Anyway, each 3-semester unit course at IU looks to be about $500.00 right now. I'm not sure, but books/supplies are most likely extra expenses on top of the tuition & other fees. This also limits your choice to some extent if you choose to transfer to a university - some universities will not accept any correspondence or independent study credits at all. The university where I earned my degree would accept up to 24 semester units of correspondence credit. But I've heard of some, though most likely not a lot of universities, which might accept up to 60 semester units. And I'd have to guess general ed courses are the safest choices no matter the number of units accepted.

    Not something you have to do, of course, but it might be something you want to research further, as you could work for a little while longer and at least finish many of your general ed classes from home without needing a loan.

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    Newbie Etoileslair's Avatar
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    Default Re: Wah! I Wanna Go Back To School!

    Thanks so much for the advice!

    To clarify: I am really really really not dependent on my parents and we really really don't talk or get along at all. I couldn't even apply using their info if I wanted to as I have no idea what they earn or are doing exactly these days. I am under 23, although the age they gave me for the cutoff when I asked was 25. I'm not a dependent and I don't use their health insurance, so I'm not really bothered by the idea of making that stuff harder.

    I'm also just starting out dancing and am totally broke.

    Grrrr. I'll figure it out. Thanks for the advice.

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    Banned Melonie's Avatar
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    Default Re: Wah! I Wanna Go Back To School!

    Well legally speaking, at age 25 students automatically become 'independent'. Under age 23, a student who is not declaring significant amounts of their own income on a tax return (relative to their parents' tax return) is legally still considered to be a 'dependent' of their parents unless the PARENTS declare them to be 'independent'.

    In regard to legal residency, at age 25 students automatically legally reside where they physically live. Under age 23, a student who has not been declared 'independent' legally resides at the parents' address even though they may physically live elsewhere.

    I'm not sure which particular school you're talking about, but the following is from Purdue University. It would appear that the CO-OP they are talking about is something along the lines of a school sponsored summer job. However, dancing earnings would pretty much have to be treated the same way as summer job earnings in regard to the issue of dependency vs independence, declaring the student's income on the parents' tax return vs filing a separate tax return, and eligibility for student grants based on family (parents + student) income vs eligibility based on student income alone,

    -----------------------------------------------------------------------------------

    "EMANCIPATION: Are you on your own, or still part of your parent’s household?

    In essence, the issue here boils down to: Are your parents’ claiming you as a dependent on their tax forms? For nearly all Co-Ops, you and your parents are both better off declaring you to be independent. Obviously, it would be possible to create a scenario in which this is not the case, but it would be very unlikely that it would apply to many people. The way our Federal Tax System is structured for reporting is based upon family units. Personal deductions to Gross Family Income are calculated by the number of individuals in the family unit. If your parents claim you as a deduction, you are NOT emancipated. They will have their taxable income reduced some by the personal deduction for you as an individual. However, they will also need to add your Co-Op income into the Gross Family Income. The net result most probably will be more income taxes paid to the Federal Government by you and your parents.

    On the other hand, if you declare yourself to be independent, you file your own return. Your parents can no longer claim you as a deduction, but you will be taxed at a lower rate, since your Gross Family Income is smaller. You will also receive a ‘Wage Earner’s’ deduction that you cannot claim as a dependent on your parents’ return. To become emancipated, you merely have to file your own returns. You must discuss this issue with your parents though, because the returns must be consistent. You cannot be a dependent on their return and file your own! As a bonus for emancipation, most collegiate financial aid paperwork becomes simpler, since you don’t have to ask your parents for materials to complete the forms.

    RESIDENCY: Where do you live?

    Unfortunately, this is not as simple as it seems. You reside where you live, but as a college student, you may live one place on campus and retain permanent residency at your parents’ home elsewhere. (You can be emancipated and still claim your parents’ home as your permanent residence.) For Co-Op students, this issue becomes more clouded and complex, since you move frequently between a job site and campus. As a general rule, you will not want to use your work address as a permanent address. Typically, you will use either your campus address or your parents’ address. There are two critical issues here: State Taxes and College Tuition. You need to be aware that a poor decision on this issue can have potentially serious financial consequences. Purdue’s interpretation of Residency is more restrictive than the Indiana Department of Revenue's.

    If you are presently an In-State Student that will be working Out-of-State, definitely use your campus or parents’ address as your permanent address. You do not want to do anything to make your life more difficult (or expensive) at Purdue. You will probably have an additional State Tax form to file (see the State Tax Section), but overall your situation is fairly simple. Obviously, if you are an In-State Student working in Indiana, you really have no worries at all, from the Residency standpoint. You may use any address you wish.

    If you are an Out-of-State Student, your situation is somewhat more complex. You will probably need to file a return in the state that you earned income plus your home state. You should check with a professional tax advisor about your situation and what you can do to minimize your tax bill."

    ---------------------------------------------------------------------------

    As the blurb from Purdue points out, the student cannot by themselves attempt to declare 'independence' without the agreement of the parents. If a student files their own tax return to establish 'independence', and if the parents file a tax return listing that student as their dependent, both will wind up being audited.

    Also, if the student does not file a tax return of their own OR no student's income is reported on the parents' tax return, then by legal definition the student cannot have an income. Therefore, without an official income, the student cannot be officially contributing the majority of their own financial support, and therefore they cannot be considered 'independent'.
    Last edited by Melonie; 01-25-2006 at 12:47 PM.

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    God/dess fancygirl's Avatar
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    Default Re: Wah! I Wanna Go Back To School!

    can you give us an idea of what type of program you want to do? Are you trying to general credits, which you can do at the community college level (or through the internet), upper level classes, an advanced degree, or vocational school? I worked my way through one of my degrees--- and it is possible, and you can even live comfortably--however you always have to put your bills first, and you might have to move to go to a place where you can make enough money.

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