2 answers
Betty
Student
Rockaway Beach, Oregon
1
Question
Updated
819 views
My father passed away this Aug 28 2024 me 120 thousand dollars and his pension but i cant receive this money until I'm 18, will this affect my financial aid? Right now i have no money and I'm borrowing to survive and also i borrow to bury him. i start college in 2025?
My father passed away this Aug 28 2024 me 120 thousand dollars and his pension but i cant receive this money until I'm 18 will this affect my financial aid, right now i have no money and I'm borrowing to survive and also i borrow to bury him. i start college in 2025
2 answers
Michelle M.
Entertainment Industry
1971
Answers
Updated
Michelle’s Answer
Hello, Betty !
I am very sorry to know of your recent loss and I am glad that you've reached out to us. Federal Student Financial Aid does have income and asset guidelines so the best thing to do would be to visit the campus of the college you intend to apply to and go to the Financial Aid Office and ask what the Asset guidelines are - in other words, how much do they allow you to have in bank accounts that your name is on. This guideline may change from year to year and even semester to semester, so it is best that a certified official representative for Federal Financial Aid provide this information to you in person at a campus financial aid office and provide you with any printed information so you can keep it to refer to. The Financial Aid officer can also calculate your Financial Need and calculate your Student Aid Index. This is always best done face to face with the staff that are experts in this.
For a sort of preview, I have left the link to this school years' Federal Financial Aid Application (2025-2026 is not ready yet) so that you could possibly (depending on the type of file it is) read the whole application now to see what questions are asked. I don't know if this is still the same, but back in my day, when I first applied, there was some criteria that if you've lived with your parents the previous year, their information had to be put on the application. I didn't qualify my first year, but I was patient and received it my second year. I was also an out of state student. So there are different ways that they assess your need and it's important to become familiar with the most current information which would be at the college you intend to apply to. I have also left a link for the Financial Aid website, but they do not address individuals' specific concerns, so it's best to go in person, on campus.
Do remember that you can apply for scholarships and grants for college, too. If you need information and advice about these, do return here and mention what college you have in mind and what major you intend to have.
So make that visit on campus as soon as you can to have all of your questions answered. The sooner the better so that you won't have to wonder and think about it. I hope that this is helpful and best wishes for all to work out smoothly for you.
THE FEDERAL STUDENT AID WEBSITE https://studentaid.gov/
AN EXAMPLE OF WHAT QUESTIONS ARE ON THE FINANCIAL AID FORM - THIS YEARS' APPLICATION https://studentaid.gov/h/apply-for-aid/fafsa
I am very sorry to know of your recent loss and I am glad that you've reached out to us. Federal Student Financial Aid does have income and asset guidelines so the best thing to do would be to visit the campus of the college you intend to apply to and go to the Financial Aid Office and ask what the Asset guidelines are - in other words, how much do they allow you to have in bank accounts that your name is on. This guideline may change from year to year and even semester to semester, so it is best that a certified official representative for Federal Financial Aid provide this information to you in person at a campus financial aid office and provide you with any printed information so you can keep it to refer to. The Financial Aid officer can also calculate your Financial Need and calculate your Student Aid Index. This is always best done face to face with the staff that are experts in this.
For a sort of preview, I have left the link to this school years' Federal Financial Aid Application (2025-2026 is not ready yet) so that you could possibly (depending on the type of file it is) read the whole application now to see what questions are asked. I don't know if this is still the same, but back in my day, when I first applied, there was some criteria that if you've lived with your parents the previous year, their information had to be put on the application. I didn't qualify my first year, but I was patient and received it my second year. I was also an out of state student. So there are different ways that they assess your need and it's important to become familiar with the most current information which would be at the college you intend to apply to. I have also left a link for the Financial Aid website, but they do not address individuals' specific concerns, so it's best to go in person, on campus.
Do remember that you can apply for scholarships and grants for college, too. If you need information and advice about these, do return here and mention what college you have in mind and what major you intend to have.
So make that visit on campus as soon as you can to have all of your questions answered. The sooner the better so that you won't have to wonder and think about it. I hope that this is helpful and best wishes for all to work out smoothly for you.
Michelle recommends the following next steps:
Amora Potter
Sales Executive
1
Answer
New York, New York
Updated
Amora’s Answer
Look into survivor benefits from Social Security if your father was eligible. These benefits are available to children under 18 (or up to 19 if still in high school.
Apply for emergency assistance through local charities, community organizations, or your state’s Department of Human Services. They often help with funeral expenses, rent, food, or other urgent needs.
Apply for emergency assistance through local charities, community organizations, or your state’s Department of Human Services. They often help with funeral expenses, rent, food, or other urgent needs.
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