Topic: What! They're refusing to sign the freaking loan!
Blayne Bradley
unregistered
posted
My mom says she'll get me all the information I'ld need to apply for a loan but suddenly 2 weeks after I begun pestering my parents for the information about they say they're not going to sign for it. I cant live in this house much longer, my mom says "I'm not ready" my dad says its because I have a "behavior problem" ya riiiiight says the person with a temper.
I got a job, I'm tryoing to get into the reserves so I can support myelf I am even planning eveyrthing ahead but they're refusing the sign for it.
This is ridiculas.
<Edited topic --PJ>
[ November 20, 2006, 02:24 PM: Message edited by: Papa Janitor ]
IP: Logged |
posted
It's their money and you're an adult. Any help you get from them is gravy, so not helping is NOT ridiculous. You are not entitled to putting them at risk.
Posts: 26077 | Registered: Mar 2000
| IP: Logged |
posted
Is there anyone else you can get to sign it? I'm pretty sure it just has to be someone with good credit or something, so if you can find some adult who trusts you, and don't mind subverting your parents, you might still have a chance.
Posts: 2827 | Registered: Jul 2005
| IP: Logged |
posted
What do you need the loan for? If it's for a place to live, Dude, reconsider what you are agreeing to pay. If it's school there may be other ways.
Posts: 1572 | Registered: Jan 2004
| IP: Logged |
Blayne Bradley
unregistered
posted
its a school loan, the government can give me money this includes bursuries, as in free money i dont have to pay back and a loan specifically so that I can get a nw computer, 4k in loans and 3.6k in bursuries in total. Its not my parents money it would be MY money and only because they know i'll move out when I get it.
IP: Logged |
posted
It IS your parent's money, because if they sign for it and you are unable to pay the loan part back, they have to. So they have to decide if that's realistic for them before they sign.
Posts: 7954 | Registered: Mar 2004
| IP: Logged |
posted
Dude, it's not YOUR money. It's BORROWED money. And if you don't pay, your parents would be responsible. How does that make it YOURS in any way?
This is part of being an adult - you have to make your own way. If you can't do it without help, perhaps you could choose another path? What sort of income are you going to be earning? Is it possible for you to save up for a while and then go to school?
Posts: 1281 | Registered: Feb 2001
| IP: Logged |
posted
I can't tell what he's asking them to sign. Blayne, can you please indicate whether you are asking them to co-sign a loan (as the title indicates) or to sign a financial information form to demonstrate eligibility for this program (as your opening post hints at)?
If the former, I don't blame them for not signing. If the latter, after you calm down a little, maybe some people here can suggest ways to approach them to get the needed signature.
Posts: 26071 | Registered: Oct 2003
| IP: Logged |
Blayne Bradley
unregistered
posted
its the later and i have a job now, and im trying to get into the reserves as a second one.
IP: Logged |
Blayne Bradley
unregistered
posted
eating a cicken sandwhich so its hard to ype with one hand.
IP: Logged |
posted
OK, so they won't be responsible for your debt. This will be your starting point in convincing your mother to sign.
The first thing you need to do is talk to someone in the financial aid office and ask them what happens if your parents just refuse to sign. There must be some procedure for this situation. Find out what it is and see what steps you can take.
Then you need to think back to your parents' objections and how to answer them. Throwing back temper problems in their face won't help - you need to convince them on their terms. Above all, stay calm in front of them. Blow off steam here if you need to (within the TOS, of course), but do not address them on an emotional level here.
Posts: 26071 | Registered: Oct 2003
| IP: Logged |
Blayne Bradley
unregistered
posted
ya I stayed within the realm of calmness then, I simply didnt reply whatsoever. I suspect its because my sister is home for the weekend os the reason, I had a huge fight/arguement/bad bad night on friday I told KoM a bit about it.
IP: Logged |
posted
Hey, Blayne, I was wondering if you could edit your title. I don't have a huge problem with the language, even if it is acronymized, but I know that some people on the forum do. This is especially important because it's unavoidable - the title is right on the front page.
Posts: 1466 | Registered: Jan 2003
| IP: Logged |
posted
In the US, if your parents claim you as a dependent, then you must include their financial information on applications for financial aid including student loans. Although I don't know the details of this case, parents are often required to sign a form verifying that the financial information given is valid. Its not an issue of age in the US, it is solely a question of financial independence. If a students parents claim them as a dependent for tax purposes, then financial aid requests are considered based on the parents income and not the child's. Some schools actually require documents proving that the parent did not provide any significant money or resources during the previous year.
Posts: 12591 | Registered: Jan 2000
| IP: Logged |
posted
If it is part of a financial aid package, he might require their signature to demonstrate need, as with FAFSA in the US.
Posts: 15770 | Registered: Dec 2001
| IP: Logged |
posted
When I went to school, the school loans required you to put down household income - so he'll need to know information about how much money his parents bring in, as well as social security numbers and that sort of thing.
Posts: 1281 | Registered: Feb 2001
| IP: Logged |
posted
Rabbit: even if parents don't claim a child as a dependent it is frequently required they report their status on the FAFSA, and also frequently required that their financial need be calculated with that status included.
Its quite hard for someone under 24 (I think that's the age), not married, not in grad school, without dependents, with living parents, not having served in the military to not have one's parents' income included in need calculations, even if they refuse to provide any money or other support.
Posts: 15770 | Registered: Dec 2001
| IP: Logged |
quote:Originally posted by fugu13: If it is part of a financial aid package, he might require their signature to demonstrate need, as with FAFSA in the US.
*reviews notes* Oh, you're right. He's under [edit] 24, not married, not in the military, and has no kids.
Posts: 32919 | Registered: Mar 2003
| IP: Logged |
posted
I was a bit annoyed when my husband filled out his financial aid paperwork because the school required parental information. My husband is married (obviously), a grad student, 28 and has 33/40 of a child. I doubt the info was actually used in the calculations, but since I prefer not to let my mother in law know that we are taking out loans, I was quite upset. Apparantly, I am too irresponsible to buy a house, a car, get a puppy or have a baby so giving her more ammunition against me is the last thing I wanted to do. Luckily, we didn't need an actual signature, so we managed to get into without telling her why.
Posts: 1001 | Registered: Mar 2006
| IP: Logged |
posted
If he is married OR over 24 OR a grad student (let alone all three), then it was not for federal guideline reasons that they requested the info. However, the school may have its own guidelines.
(Babies in utero do not count as dependents. Not even one day before birth, let alone 7 weeks. Nice try, though! )
Posts: 32919 | Registered: Mar 2003
| IP: Logged |
posted
Maybe they just neglected to say "not required if married, over 24, or in the military" (which is what my husband's forms said.)
Posts: 21182 | Registered: Sep 2004
| IP: Logged |
posted
If Blayne were to move out, then I think his parent's financials wouldn't have anything to do with financial aid. My sister-in-law went through something similar, but she was 17 which made things worse. Her mother just didn't want her to leave the house and go to college as my sister-in-law did all the child rearing of her siblings.
Posts: 3134 | Registered: Mar 2005
| IP: Logged |
posted
It was the school forms that required the info. The FAFSA let us leave it blank. The school ones were online so when I tried to leave it blank, it came back with an error and wouldn't let me continue. It could have just been the programming.
Posts: 1001 | Registered: Mar 2006
| IP: Logged |
posted
Stephan, I believe that the only exception when 17 is if you are married, enlisted, or are an emancipated minor.
scholar, I bet it was an oversight in the programming-- they should have had a box to check that said, "I am married, over 24, etc." that would have let you skip that part. I hope you informed the school of your problem so they can fix it.
Posts: 21182 | Registered: Sep 2004
| IP: Logged |
quote:Originally posted by Stephan: If Blayne were to move out, then I think his parent's financials wouldn't have anything to do with financial aid.
I don't know for sure if Canada is different than the US in this regard (although I'm pretty sure it's the same). But in the US, it does not matter if you are living at home, in a dorm, in an apartment, or on the street (well, that last one might get you somewhere ): if you are
under 24
not married
not supporting children or other dependents
not a veteran of the armed services
have two living parents
not a (former) ward of the state
you are NOT independent for the purposes of financial aid. In very, very, VERY rare cases, you may be able to convince the financial aid department of your school to override your dependency status. But that almost never happens, and involves lots of proof.
posted
At my school Utah Valley State College I JUST applied and was granted a FAFSA (SO HAPPY) if you are under 24 then you must include financial information on your parents so the government can gauge their grant accordingly. You definitely get more money if you are 24 than if you are 23 with parents that have any money to spare.
Yet another reason why I love Senator Obama, and yes its purely for selfish purposes.
posted
I assume you mean you qualified for a Pell grant (and/or state grants)? FAFSA is the application, and it is free to everyone. (Hence Free Application for Federal Student Aid.)
You're married, and from what you have said, your income is not high. I would've been absolutely shocked if you had not qualified.
And the cap on Pells is still $4050/year, despite the efforts of Obama and others.
Posts: 32919 | Registered: Mar 2003
| IP: Logged |
Did they promise to sign the loan and then go back on their word?
My mother had told me through all of my young life that "I would not have to worry about paying for college" or some equivalent. Then when I graduated from high school, applied and enrolled in college, I handed her the bill and she asked what is was for. I said it was the bill, and she said "so pay it."
Obviously I couldn't pay it, so I went to financial aid, and they gave me a bunch of paperwork and told me to fill it out. One of the requirements was that my mother provide her tax forms for proof of income. She refused. After several trips to the financial aid office asking how I could be declared independant of my mother, she finally relented and gave me the tax forms. In 1981 she had made $34,000 in interest and dividends. I took the form to financial aid, and showed it to them. They laughed and said "tell her to pay the bill."
She didn't. Guess how close I am with my mother these days?
Blayne: Tell your parents that at some point in the future, they will be old and feeble and will need their son to help take care of them. They may not believe it now, but they need you more than you need them.
Posts: 3735 | Registered: Mar 2002
| IP: Logged |
posted
My mom didn't sign the Parent Plus Loan so I took out the Creative Loan. She was my co-signer for my first academic year but afterwards, my credit was good enough to be on a stand alone basis.
You're parents shouldn't have to pay for your education. I think that maybe you need help, but by no means should you expect them to support you.
You're an adult, take responsibility.
Posts: 3389 | Registered: Apr 2004
| IP: Logged |
quote:Originally posted by rivka: I assume you mean you qualified for a Pell grant (and/or state grants)? FAFSA is the application, and it is free to everyone. (Hence Free Application for Federal Student Aid.)
You're married, and from what you have said, your income is not high. I would've been absolutely shocked if you had not qualified.
And the cap on Pells is still $4050/year, despite the efforts of Obama and others.
Sorry you have about an 90% chance that I will go back on my posts an omit errors and correct spellings. That was a 10% post. Yes I know the bill did not pass, I thought it was too bad it didn't. But I am glad Obama pushed that agenda.
Incidentally, they scare the crap out of you when you complete the form as they have an "Estimated Amount of Aid" or something like that and since they will not give you aid until they get some confirmation from your school that you are being accurate that value was 0 for me. So here I am finished with the application and it says, "Estimated Amount of Aid = 0" and thinking, "well that's not good."
After about 5 minutes of fretting I just assumed they could not estimate anything until they verified my information, but even still I think its silly. Then again its the US govt we are talking about.
Still I can't complain about their generosity, the money has seriously helped Tiffany and myself alot.
Posts: 14316 | Registered: Jul 2005
| IP: Logged |
quote:Blayne: Tell your parents that at some point in the future, they will be old and feeble and will need their son to help take care of them. They may not believe it now, but they need you more than you need them.
Reminds of a time my mom was going to dicipline me and I said, "Just remember mom, I choose the nursing home."
I was amazed when my mom stopped dead in her tracks but within 5 seconds she diciplined me anyway. My sister nearby said, "Don't worry mom you can stay with me." Pff! that little suck up.
My mom still thought the comment was hilarious and told her friends I had said it.
I saw it in Calvin in Hobbes one day, it was still funny then.
Posts: 14316 | Registered: Jul 2005
| IP: Logged |
posted
Alt, why don't you qualify for a Stafford loan? You should, AFAIK.
I don't think Blayne is expecting his parents to support him. But as a dependent (as defined above), he needs their (well, one of 'em) signature on his financial aid application, as well as on any follow-up forms.
Posts: 32919 | Registered: Mar 2003
| IP: Logged |
quote:Originally posted by BlackBlade: Incidentally, they scare the crap out of you when you complete the form as they have an "Estimated Amount of Aid" or something like that and since they will not give you aid until they get some confirmation from your school that you are being accurate that value was 0 for me. So here I am finished with the application and it says, "Estimated Amount of Aid = 0" and thinking, "well that's not good."
posted
My family and I had similar issues about the paperwork for me to apply for student aid. It was my family's policy that the children had no business knowing the financial details of the parents' lives.
So, after going round that bush a few times, I ended up working a compilation of various parttime jobs (at one time, there were six at once -- 4 little bitty ones, e.g., working in another church's nursery 2 hrs every Sunday for $15/week, and 2 large ones of 15-20hrs/week each) and surviving on scholarship money for the rest. It was a tough, tough time.
Posts: 14017 | Registered: May 2000
| IP: Logged |
quote:Originally posted by ClaudiaTherese: It was my family's policy that the children had no business knowing the financial details of the parents' lives.
No problem. Let the parents fill out the FAFSA (have the kid fill in their info first) and send it in.
(Actually, I know some parents who do precisely that.)
Yeesh. I don't expect to be in a position to help my kids out a lot with college expenses, but I can't imagine not helping them get whatever federal/state aid they might qualify for!
Posts: 32919 | Registered: Mar 2003
| IP: Logged |
quote:Originally posted by rivka: Alt, why don't you qualify for a Stafford loan? You should, AFAIK.
I don't think Blayne is expecting his parents to support him. But as a dependent (as defined above), he needs their (well, one of 'em) signature on his financial aid application, as well as on any follow-up forms.
I did qualify for both Unsubsidized and Subsidized Staffords and I'm using both. The thing is that my tuition cost exceeds what both of these loans cover, so the Creative loan supplies whatever is needed after that.
Wait a minute, so Blaine's parent won't even supply their tax forms? Are they insane? How exactly is Blaine supposed to apply for financial aide then? I understand that if Blaine wouldn't keep his payments his parents would have to legally, but you mean they put their credit scores before their son's own future?
Posts: 3389 | Registered: Apr 2004
| IP: Logged |
quote:Originally posted by ClaudiaTherese: It was my family's policy that the children had no business knowing the financial details of the parents' lives.
No problem. Let the parents fill out the FAFSA (have the kid fill in their info first) and send it in.
This is what my dad did. Not so much because he didn't want me to know, but because he wanted to do as much research on it as possible. In retrospect, I wish we'd filled it out together. I'm 21 and don't understand the basics of finance (well, other than credit cards = BAD!), and I think filling out the FAFSA would have been a good educational experience. It did pay off, though, since I'll graduate from college with no debt, and costing my parents very little every year.
Posts: 4655 | Registered: Jan 2002
| IP: Logged |
quote:Originally posted by rivka: No problem. Let the parents fill out the FAFSA (have the kid fill in their info first) and send it in.
(Actually, I know some parents who do precisely that.)
Yep, that's how my parents did it. My father doesn't want me to know exactly how much he makes (although I have a vague enough idea). So when it came time to do the FAFSA, I filled out my stuff then handed it over to him. He filled out the rest and mailed it in. It all worked out.
Posts: 1960 | Registered: May 2005
| IP: Logged |
posted
My mom was my co-signer even when my tuition was like 80k and she makes less than 30k a year.
When my family found out that she had signed up for all that, they freaked because they couldn't understand why my mother would do such a thing. It was too much money to them. My mom told them that it was my future, and she had faith that I would succeed.
Posts: 3389 | Registered: Apr 2004
| IP: Logged |
quote:Originally posted by ClaudiaTherese: It was my family's policy that the children had no business knowing the financial details of the parents' lives.
No problem. Let the parents fill out the FAFSA (have the kid fill in their info first) and send it in.
(Actually, I know some parents who do precisely that.)
But -- and I say this delicately -- you did not know my mother. What one person may consider to be a sensible provision may not be seen so by another.
Good point, though. It might well work for some families. [as can be seen above]
Posts: 14017 | Registered: May 2000
| IP: Logged |
quote:Originally posted by Altáriël of Dorthonion: My mom didn't sign the Parent Plus Loan so I took out the Creative Loan. She was my co-signer for my first academic year but afterwards, my credit was good enough to be on a stand alone basis.
You're parents shouldn't have to pay for your education. I think that maybe you need help, but by no means should you expect them to support you.
You're an adult, take responsibility.
The problem with this stance is in the case of families where the parents refuse to contribute to their child's education, but have the money to do so.
Case in point: my best friend's family was well off enough that they would not have a problem paying for him to go to school, however, they wanted him to pay for school entirely on his own as a matter of his independance and teadching hardwork etc... however, he was not able to recieve federal aid because according to their estimation his family COULD pay if they so chose. I see this as unfortunate, but it is the way the system seems to work.
Now with Blayne's case it seems more that he can qualify, but just needs his parent's signature on the forms. That being the case it's quite bad form for them not to.
As others have said though, it's a whole different case if he's asking them to cosign a loan.
Posts: 1038 | Registered: Feb 2006
| IP: Logged |
posted
I hear you CT. I had to fight with my parents to stop claiming me as a dependent for tax purposes too, even though they *weren't* contributing the minimum amount to my upkeep to call me a dependent without some serious finagling. Grad school was a relief because then they stop asking about your parents finances.
quote:Originally posted by ClaudiaTherese: But -- and I say this delicately -- you did not know my mother. What one person may consider to be a sensible provision may not be seen so by another.
Oh, understood! But I think you would agree that she was not the average parent, or even the average unwilling-to-let-child-know-their-financial-status parent?
Unfortunately, my impression is that neither are Blayne's.
Blayne, have you tried discussing the situation with your financial aid counselor? Perhaps your parents might respond better to a call from her (or him), requesting their signature to ensure that the financial aid package not be lost? The semester will be over before all that long . . .
Posts: 32919 | Registered: Mar 2003
| IP: Logged |
posted
In Canada, to apply for student loans & bursaries, it used to be that until you were 21, you had to provide financial information on the parents. It may have changed, but likely it'll only be the age of the student that's changed, if anything.
Blayne, I know of other students who had problems with their parents similar to yours. They had other paperwork to fill out - and no, I'm sorry, I don't know what it's called or what the process is. It's not the emancipation of a minor since you're no longer a minor. Contact the student loan offices and ask for advice (politely, of course - the more polite you are, the more likely they'll help). You'll likely have to provide some sort of statement indicating why you're having problems having your parents fill out the paperwork.
If you need more help, then contact your MP, who may be able to push things through for you.
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
)
![[Wink]](wink.gif)
): if you are![[ROFL]](graemlins/rofl.gif)
![[Razz]](tongue.gif)
![[Frown]](frown.gif)
![[Smile]](smile.gif)
