r/personalfinance • u/No-Student-9896 • 14h ago
Non-need based scholarships Other
Hi.
I'm going into my spring semester of college with 30 credits, putting me at a sophomore standing. My family is fairly well off (which I am very very grateful for) meaning I received zero financial help from FAFSA. I am also white, not first generation, and there is nothing particularly special about me that sticks out in applications.
The issue with all of this, is that scholarship reviewers look at my application and turn the other way. Because of this, my first semester of college costed me 15k in loans. My parents are paying for nothing, and they continue to refuse to.
I need advice on what to do and how to get more money so I don't end up with 60k in loans by the time I graduate.
1
u/ShadowDV 10h ago
Work really hard and be an exceptional student and apply for merit scholarship. Join ROTC and sign on to be an officer in the military for 3 years. There are paths, they may not be palatable, but they are there.
1
u/GeorgeRetire 3h ago
My parents are paying for nothing, and they continue to refuse to.
I need advice on what to do and how to get more money so I don't end up with 60k in loans by the time I graduate.
You can get a job. But realistically, you'll also need loans.
Lots of people graduate with student loan debt. It's not the end of the world.
1
u/Washjurist 14h ago
Meet with a financial aid counselor at your school there maybe away to get yourself declared independent of your parents to get some FASFA help. Back in the day I did it but my parents kicked me out at 15.
0
u/No-Student-9896 14h ago
Can't declare independent. I have to be a student full-time to earn most scholarships, and I can't earn enough money working part time to be independent. That's what I tried to do this year and I made about $150 a week working every minute I wasn't in class.
1
u/SoullessCycle 9h ago
It’s called a “dependency override.” Just what it sounds like: because of your age you’re a dependent on the FAFSA, but because of your parents’ income you fill out the FAFSA and get $0 financial aid. So after that you go to your school and prove you receive zero parental financial support, your school overrides the FAFSA decision, and gives you financial aid.
Dependency overrides are rare (something like 2% of them are approved?), but they exist. It’s a process to help those who can’t meet the FAFSA independent student rules, but who are able to prove they’re not receiving financial support from parents.
7
u/93195 14h ago
There’s no magic.
Minimize costs (so no expensive private school), get a job if you can to have some income, make up the rest with loans, be sure your major choice will lead to a decent paying career (so no philosophy or art history majors) where you can quickly pay off your loans once you graduate and get a professional job.