Help!! Any financial/college aid gurus out there?

[EdiePA]

A little background, DS#2 has wanted to go to Penn State, Main Campus, since he was in the fifth grade. He was accepted earlier this year and thrilled. I'm a separated Mom, the custodial parent.

Well, today his financial aid package arrived. They are giving him $00.00! No, that's right zero. I brought home $44,000 last year and his FAFSA says that my contribution should be around $6,500 for a school that is going to cost $16,500 !! I can't do this with his older brother also in college for two more years and I'm so upset and disappointed. I tried calling the financial aid office and they said that my contribution was over their limit for need based aid.

I know there are local scholarships and he'll apply for every one that he can, but there's no way that he'll be able to get even near what we were expecting from the school. I'd rather not have to take out loans this early in the game, because he wants to go to Med School. (He's a straight-A student with great SAT scores).

Help!!
Thanks for letting me cry on your shoulders! This was just such a shock for both of us.

Edie

 

[Miss Jasmine]

I really don't have any advice, but wanted to offer {{{HUGS}}}. My mom, a single mother (widow), got me through college. Mom paid for my first two years (minus grants) and I paid for the next 2.5 years (grants, work study and loans). I guess you could ask the father to help, but I think I remember a post about having problems with him. I found the financial aid offices are less than helpful.

Penn State that was always my dream...until I moved to Florida. Now it's great to be a Florida Gator.

 

[Pin Wizard]

Thanks for reminding me to do my application. I hate paperwork. I've put it off way too long. And my community college has a whopping 7 work-study postions which are all filled.

 

[Pooh Girl 71]

I'm sorry to hear that! As someone who has put herself through undergrad and now graduate school, I know how expensive it is. I am in debt up to my eyeballs with student loans.

Is going to community college a viable option? Granted it's not his dream school. But, he could get the basic classes to transfer and save money to go to his dream school. Community colleges are a wonderful bargain IMO.

 

[Ranatra]

Originally posted by EdiePA

Well, today his financial aid package arrived. They are giving him $00.00! No, that's right zero. I brought home $44,000 last year and his FAFSA says that my contribution should be around $6,500 for a school that is going to cost $16,500 !! I can't do this with his older brother also in college for two more years and I'm so upset and disappointed. I tried calling the financial aid office and they said that my contribution was over their limit for need based aid.


Edie

I've been filling out FASFA forms for the last 6 years. I'm not completely in the dark about them, I do have some experience.
I read and re-read your post about 3 times. This just doesn't sound right to me. Question: Are you a family of 3?
I can't believe your contribution would be over their limit for need based aid. Would Penn State's "limit" be set unusually low?
Would other State schools "limit" be higher?
Actually, I'm just asking questions outloud. I'm baffled.

I've had 2 in college at the same time for the last 4 years. (It was 2 sons, now it's a daughter and a son, he's in his last semester)
Believe me, I feel your pain. I just really would have thought your son would have done better than a big fat ZERO from Penn State. I'm sorry you're so upset, I would be too.

 

[caitycaity]

do you have other assets (boats, additional property, extra money in the stock market, 401k???). i agree with ranatra, from what you have told us, that is not the norm.

if he still really wants to go there -- student loans... or as someone else said, go to a cc for two years and the advisors there should be able to help your son with what classes will transfer.

 

[Mickeyfaniam]

When I filled out FAFSA forms to put my son through college I had to report my own income, his father's income, whom i was divorced from...... AND my present husbands income which I thought was so UNFAIR. My son was an A student, finished 9th in his class.
He applied to many colleges...some met his need...some offered him more help beyond his need and some offered him less then his need..... those he could not attend. He decided on Worcester Polytechnic Institute which MET his need. He is done nnow and paying off colllege loans up to his ears. To this day he swears he should have done his first 2 years at a CC and transferred to WPI later.