I need to know if a high school senoir can still qualify for a stafford load/pell grant even if the student's parents have failed to file both state %26amp; federal taxes for the previous three years. Is there a way to just provide the parent's wage info %26amp; still qualify?Can a high school senior get a student loan w/o submitting her parent's tax info?
When you fill out FAFSA and it asks about your parents it will ask if you if they have filed/will filled/ or will not file. I have never picked will not file but I assume it will ask you about their estimated income based on W2's or other proofs of income. That is what it did for me when I picked will not file for myself.
Good luck! If you need more help you can always call the financial aid office of the college you want to go to. Get this done early (like this week) because work study and subsidized loans are handed out on first come first serve basis.Can a high school senior get a student loan w/o submitting her parent's tax info?
You have to supply tax returns to prove how my money they made. I had to give a copy of the W-2 and tax return. I recommend asking your financial advisor. I know you will need something of your parents, because even if you end up not living with them and are complete dependant on yourself, you will still need to provide some information until you turn 25. I thought that sucked, because I haven't been a dependant of my parents since I was like 19.
There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In most%26lt;!--instances the FAFSA is required for all federal financial aid including federal student loans. Deferment options are available while you are still attending school at least half-time. There are four main federal loan programs.
http://best-loans.awardspace.com/student-loans.htm
Federal loan consolidation is for students who are in repayment status or parents who wish to extend the repayment period on their current PLUS and obtain a fixed interest rate for the life of the loan--%26gt;you can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.
I was an independent student at 18 and did not have to supply my parent's info. FAFSA let me apply without their info, but I don't know what your situation is.
You can still get a student loan from a private company (just like any other loan), but to get a federal student loan, or to get a Pell grant, you need to submit your parents' tax info. So:
1. If your parents didn't file taxes because they were exempt from filing (because their income was too low, or they had other legal exemptions), you can indicate that on your FAFSA and financial aid forms, and write in their income. But the school will likely want some proof (e.g. paystubs) of their income to make sure it actually is that low.
2. If your parents didn't file taxes even though they were supposed to--you will have a hard time getting a student loan, because W-2s and tax returns are required to be submitted to the school you are attending, if you want a federal loan or Pell Grant. And, your parents will probably get audited eventually, which is a real pain. So they should start filing their taxes.
3. If you are actually independent of their parents *right now* (you don't live with them, and they don't pay for your tuition or living expenses), you can apply without their information. But very few students in high school fit into this category.
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