I'm not sure how I'm going to fund college?

I just partied from 18 to 24 and worked a shitty job. Once you are 24 FAFSA doesn’t ask about your parents.

@johnpowell I was just about to say that! I wish I had known that before I signed up for everything!
@Feta , they consider student loans that you pay back also financial aid, and they award them to you, no matter what. So as long as you plan on using your degree and getting a good job to be able to pay it back, don’t panic!

My oldest had similar plans. She was accepted to her college of choice, and was awarded the highest possible scholarship…but we still couldn’t afford to send her there (and we did have a college fund for her). I’m sorry to say it, but it’s probably not feasible these days unless you’re rich.

Sucks. My wife and I both came from families with very little money and were unable to help with any our college tuition. We ended up with tons of loans – even though we were eligible for some aid and we only went to a state university. We’re still paying the loans today (at 41 years old).

But, that leaves you with the option of trying to get loans for nearly all of your education to an ivy league school. And it seems that you’ll be unlikely to want to be facing that kind of debt following an education.

Crap, why did I start typing. I don’t have an answer for you. It sounds like your options are to wait (if the @johnpowell thing is true), go to a state college, or prepare to be in absurd debt following graduation.

Good luck. Let us know when you make a decision, and if you’ve come up with another solution.

I can’t imagine making $140,000 a year and not helping my only child pay for school. Of course you won’t be eligible for most forms of financial aid when your parents can and should be contributing to your education. How incredibly selfish of them.

The others are correct that after 24, you don’t report your parents’ income on the FAFSA. The same is true when you get married or legally emancipated. However, “partying until you’re 24 and working shitty jobs” is not something I would’ve never done, and I’m getting the vibe that you wouldn’t consider that either. Not getting your undergrad degree or starting your career until 28? Um, no.

You can consider loans, but I don’t think taking out loans for an Ivy League education in Journalism is very smart. That’s a lot of debt for a degree in a field that doesn’t typically earn you loads of money. I know you’re motivated and you think you’ll make it big, but you need to cover your ass in case life doesn’t turn out as you’re planning. I’d strongly consider a less expensive school. If you have to completely rely on loans at an Ivy League school, you’ll need federal (both subsidized and unsubsidized) and personal/private loans. The interest alone will be ridiculous. Your monthly payments after graduation would probably look more like a mortgage payment.

We can’t always get what we want. We need to think realistically about our goals.

Your parents are doing the right thing, sorry. You have your entire life ahead of you to make money to pay for college. They only have one retirement and it’s probably a fixed income.

I suggest you lower your expectations a little.

“I feel like my future is being crushed by my parents unwillingness to participate.”
Having your parents pay for college in a privilege. It’s not something you can take for granted. I agree with them personally, but if they are making $140000 a year then that’s too bad that they don’t want to be stingy and not support your enthusiasm to pursue a challenging education.
I wish I understood FAFSA more. I didn’t fill it out because I thought it was based on my parents’ income, and I am paying for pretty much all of my college expenses. You could look for outside scholarship money and student loans. I heard student loans were a disaster, though.

What is your GPA? I don’t want to crush your ambitions either, but you could try looking for opportunities at other colleges. They may have better Journalism programs than an ivy league school anyway and cost much less. Journalism isn’t as demanding as other degrees.
Here’s my situation:
I’m paying $8k a semester at a private university for getting a 3.0 GPA and obtaining outside scholarships. It’s a little more than a state school, but it’s such a nice place and I still won’t have much debt (I am only in my first semester have yet to take out a loan). Let me add that I have worked very hard in the summer for years to get this money.
You have many opportunities elsewhere, so no need to set your heart on one place. Have an open mind.
I can help you with the process if you have any other questions. I just went through it.

And just as a point of interest, I turned down Harvard Medical School because it was too expensive and I went to a cheaper school. My parents helped me out in college but didn’t pay a dime for my medical school. And they made more money than your parents.

I hustled for scholarships. My favorite story is I won a Chinese American Students Scholarship. And I’m a white Jew.

Scholarships, and go part time while holding a full time job as a host for a steak house.

Assuming you are admitted to every program you apply to, the following scenarios are possible for you:

1. Attend an expensive private university. Fund your education with a combination of loans, grants, scholarships, and money from a job that you work while in school. Depending on how much money you earn and how much free money you get, graduate with anywhere from $0 to $200,000 in debt.

2. Attend a public university where you pay in-state tuition rates. Again, fund your education with a combination of loans, scholarships, etc. Depending on the relative amounts of each, graduate with anywhere from $0 to $140,000 in debt.

3. Attend a community college for 2 years, get good grades, and get your general education credits out of the way. Transfer to a public or private school, and graduate with half as much debt as in scenarios 1 or 2.

So those are your options. What your parents said about state/public schools is generally correct, although it varies a great deal by state. Often, the education you get will be just as good at a much lower price. Ivy League schools are nice, but they are the scholastic equivalent of a Fendi purse. It looks and sounds great, and everyone knows the name, but at the end of the day it doesn’t hold your keys any better than a generic bag.

In general I am a big advocate of public universities, having done my BS and soon my PhD at public schools. The only time I think it makes more sense to go to a private school is if they can offer you a much better financial aid package—often private schools have much bigger endowments and more free money to give away.

I would strongly advise you to listen to your parents, follow the money, and not get lured in by the shininess of the Ivy League.

@Rarebear, I have a friend who also turned down HMS—he had applied MD/PhD, and they would only admit him for the MD. So he turned them down and is now getting both degrees for free through a joint program at UCLA/Caltech. Can you tell us your Chinese American Students Scholarship story?

@nikipedia Sure. This is long before the internet and email. I went to the scholarship office and asked to see the scholarship folder. I went through every single scholarship, one by one, looking at the fine print. The Chinese American one had two for Chinese Americans, but in the fine print in the bottom had two for non-Chinese students. I thought to myself, “I bet nobody else saw this.” and I applied.

About two months later the phone rings:
“Hello?”
“Hello, is this "Rarebear"?”
“Yes?”
“My name is Dr. Ng. You applied for a scholarship. It’s $1000. You want it?”

They had a big banquet full of Asian doctors. One other woman and me were the only non-Asians in the room. I stood up and gave a short speech thanking them profusely and sat down to a full course delicious Chinese meal.

@Rarebear Interesting advice. It’s a good thing to keep in mind for the future.

Since others are telling their stories…

I graduated from high school in 2008 with a 4.1 GPA (on a 4.0 scale, thanks to honors/AP courses). I initially wanted to be a nurse, so I started at a local technical school that had an intense “2 year” (more like 3 year) RN program with a fantastic reputation. I come from a low-income family, so I was able to get grants along with my academic scholarship that paid for two full years of college.

After a year-and-a-half, I decided the medical field wasn’t for me. I was doing well in school, but I hated it. I decided I was really interested in psychology and criminal justice and decided to switch my major. I did another semester at the technical school before transferring to a state university. This is when I had to start getting federal loans to supplement my grant money. Tuition at my school is $10,000/year, books not included.

I got married in 2012 and had to start using my husband’s income on my FAFSA. Unfortunately (and fortunately), he makes more money than my parents and I was no longer eligible for grants and my scholarship money was gone. My last semester is being paid for entirely with loans. And my husband makes nowhere near $140,000. Not even half of that.

I’m graduating in December with $25,000 in federal loans after 5½ years of college. I know some people are lucky enough to graduate with no debt, but I’m proud to say that I was able to come out of school with a debt amount that will not exceed my starting salary. I think that’s a very good thing, especially considering that my field of interest, like yours, is not known for high-paying jobs.

When it comes to debt, you need to think with your head, not your heart.

You can wait for your parents to pass on and use the insurance and inheritance to fund college.