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Will we still qualify for FAFSA??

Anonymous
Posted by Anonymous
  • 4 Replies

DH is trying to complete his bachelors degree (he has 2 years left) and he was using TA (tuition assistance through Military) but now its being canceled. He transferred his GI Bill to me so we could both go to school and since he was able to get TA we thought it would be ok ( I know we thought wrong and made a bad decision, cant take it back now).

What I'm wondering is if we can still qualify for FAFSA (pell grant money). We used it about 18 months ago but now our finances have changed. DH is an E-6 and we have what I believe is WAY too much in savings to qualify. I know part of the financial statement asks how much you have in savings on top of income and we don't want to spend our savings because its our nest egg and fall back if anything were to happen (with the way the economy is going I don't feel its safe to spend it on anything).

Im guessing at this point we will just have to maybe wait and see what happens with TA. My friend told me we should still qualify for pell grant based on our income because they did and had about the same amount in savings but I honestly don't believe it.

Posted by Anonymous on Mar. 9, 2013 at 3:38 PM
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Replies (1-4):
Anonymous
by Anonymous 2 on Mar. 9, 2013 at 3:48 PM
Chances are it is too much. It may not be the best way, but pull the money out of savings when you apply. If you have it in Ira's I don't think it counts against.
Anonymous
by Anonymous 1 - Original Poster on Mar. 9, 2013 at 3:57 PM


Quoting Anonymous:

Chances are it is too much. It may not be the best way, but pull the money out of savings when you apply. If you have it in Ira's I don't think it counts against.

I think we may just put off school for a while. I think it would be unwise to spend our savings account with the way the economy is going. Things arent going so well for the Military right now either and now they are looking to cut more people so we have to prepare for the worst at present. Our degrees are important but lets be honest a bachelors degree is about the equivalent of a high school diploma at this point, getting a good job is just getting to be impossible. Company's are undervaluing bachelors degree by requiring them for the most minor positions (such as a receptionist which should never require a bachelors).

amiesmomma
by on Mar. 9, 2013 at 3:59 PM
All you can do is apply. Call the financial aid dept of your school/s. They should be able to help
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Anonymous
by Anonymous 2 on Mar. 9, 2013 at 10:02 PM
I didn't mean spend it. Just take it out. Put it in a safty depost box. You don't make very much on savings accounts. Other things you make more but can't touch it for x months.


Quoting Anonymous:


Quoting Anonymous:

Chances are it is too much. It may not be the best way, but pull the money out of savings when you apply. If you have it in Ira's I don't think it counts against.

I think we may just put off school for a while. I think it would be unwise to spend our savings account with the way the economy is going. Things arent going so well for the Military right now either and now they are looking to cut more people so we have to prepare for the worst at present. Our degrees are important but lets be honest a bachelors degree is about the equivalent of a high school diploma at this point, getting a good job is just getting to be impossible. Company's are undervaluing bachelors degree by requiring them for the most minor positions (such as a receptionist which should never require a bachelors).


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