Complicated situation; Solutions anyone?

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Complicated situation; Solutions anyone?

Postby bpennock » Tue Sep 29, 2009 2:09 pm

I am a sophomore just returning to college. I have just barely transferred to the college I am going to.

I have been offered an internship I couldnt pass up right before school started. Consequently, I have not had time to work. I really don't want to let this opportunity slip away, but as it is I have about 2 bucks in my checking account, lol.

So here's the deal: I applied for financial aid through my school. I was denied on everything except a subsidized loan which didn't cover all of my school expense this semester or next semester. Both of my parents have been unemployed since Feb 09; they are in no position to help me. My dad has dragged his heels in applying for unemployment status, so even though they have been unemployed for some time, their status may not be recognized.

I'm not sure what I can do, really. I am financially tied to my parents until I'm 25. I've spent every cent I do have to try and make this work and have sought out every avenue for help that I know. I have been applying for jobs as well, but have had no luck in getting hired yet. Is there any help for a student like me? I'm new, my parents are out of work, and am working on some very promising projects in relation to my major (including the internship).

Please help if you know anything. Thanks.
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Re: Complicated situation; Solutions anyone?

Postby kristinem17 » Wed Sep 30, 2009 2:05 pm

First of all, you are only financially tied to your parents until you are 24 years old.

Secondly, there are two ways that you can potentially gain additional assistance. Your first option is to go to your school's financial aid office to request a professional judgment override on future earnings and income. You will need to document your previous financial status and your current financial status. This would give you the ability to take out more money in your name. Your second option is to ask one of your parents to apply for a Parent PLUS loan knowing that they will probably be denied because of their employment status. You can then take the decline letter to a financial aid officer at your school who can once again grant you additional assistance.
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