Skip to main content
96 votes

My parents claim they cannot pay for my college education; what are my options?

Some folks have touched on this, but I wanted to make sure I emphasize this. Getting a college degree does not require going into massive debt. In fact it doesn't require debt at all. Here are some ...
Ogre Psalm33's user avatar
  • 1,517
82 votes
Accepted

My parents claim they cannot pay for my college education; what are my options?

You really have only three options (leaving out somehow legally forcing them to pay, about which I know nothing). I'm also assuming you're in the US. Somehow get enough in scholarships and grants to ...
jamesqf's user avatar
  • 11.1k
53 votes

My parents claim they cannot pay for my college education; what are my options?

It seems everyone has left one conspicuous option unspoken: Don't go to college. Let me be clear. I am not saying you should not go to college, but it is important to remember that not going to ...
BlackThorn's user avatar
  • 2,288
48 votes

3.5% Interest Student Loan or use all of my savings on Tuition?

According to the OSAP website you will not be charged interest until 6 months after you graduate for the Ontario portion of your loans (Canada portion accrues interest immediately after graduation). ...
Hart CO's user avatar
  • 70.5k
31 votes

3.5% Interest Student Loan or use all of my savings on Tuition?

Both your aversion to debt and your aversion to living paycheck-to-paycheck are admirable. Many people live in both of those states. Fortunately, if I am reading your question correctly, you can ...
Ben Miller's user avatar
  • 116k
30 votes

My parents claim they cannot pay for my college education; what are my options?

Divorce records are public. Go to the county Clerk's office and read through all the documents (Divorce Decree, Property Settlement, etc). It'll be depressing, but that'll show how much your father ...
RonJohn's user avatar
  • 50.7k
22 votes

My parents claim they cannot pay for my college education; what are my options?

My wife and I have six children who are in college or have graduated. So far, with almost no financial help from us, they have earned 4 Bachelors degrees, a Masters degree, and an Associates degree (...
Chad's user avatar
  • 320
21 votes

My parents claim they cannot pay for my college education; what are my options?

This may or may not answer the question, but is far too long for a comment. Many people's parents do not pay their children's tuition in full in the US. I'm writing this as if your parents will not ...
Jared Smith's user avatar
  • 1,857
10 votes
Accepted

3.5% Interest Student Loan or use all of my savings on Tuition?

I had found myself in a somewhat similar situation from my education. From what I realised, is that it really depends on your debt/risk tolerance. Also to note that the rate isn't actually 3.5% but 70%...
Mark N's user avatar
  • 216
10 votes

My parents claim they cannot pay for my college education; what are my options?

Don't let your parents drag you into their arguments. This is BAD co-parenting. Yes there is probably alimony paid. It is much harder for 2 people to afford living independently than together (2 ...
Paul's user avatar
  • 291
9 votes

Giving kids annual tax free gift of $28,000

Why limit yourself to $28K per year? If you pay the tuition directly to the institution, it does not count against your annual or lifetime gift-giving totals. You could pay the entire tuition each ...
dg99's user avatar
  • 6,037
8 votes

Unpaid College Tuition - Does Statute of Limitations Apply?

You need professional help. If this is seen by the federal government as a federally backed student loan this can have repercussions beyond applying for credit and having a good credit score. Your ...
mhoran_psprep's user avatar
8 votes

My parents claim they cannot pay for my college education; what are my options?

The other answers are great but I will add my own experience. I started college right before my parents got divorced. My dad was making a decent amount of money. Too much to qualify for Pell grants ...
Lux Claridge's user avatar
7 votes

My parents claim they cannot pay for my college education; what are my options?

First, the thing between your parents is not your problem. You are not entitled to that money, and trying to gain access to it will only anger them. There's a huge scam around college financing It'...
Harper - Reinstate Monica's user avatar
6 votes

Giving kids annual tax free gift of $28,000

From the IRS' website: How many annual exclusions are available? The annual exclusion applies to gifts to each donee. In other words, if you give each of your children $11,000 in 2002-2005, ...
BobbyScon's user avatar
  • 14k
6 votes

My parents claim they cannot pay for my college education; what are my options?

I tend to agree with Jared on this You will need to pick a major that will allow you to repay the debt. I don't know that he explained it very well, however. College is definitely useful for ...
Machavity's user avatar
  • 2,344
4 votes

Do I have to file for tax if I don't work at all but just received 1098-T form from my college?

The 1098-T is not an income statement. It is a statement of the tuition that was paid on your behalf. Normally, this form is used by the taxpayer to claim educational tax benefits. If you have no ...
Ben Miller's user avatar
  • 116k
4 votes

3.5% Interest Student Loan or use all of my savings on Tuition?

Choosing to pay off debt vs. make payments should always consider the utility of both: Paying back $13.5k over 9.5 years at 3.5% would mean you pay $2,388 in interest over the course of the loan. ...
Yoshiyahu's user avatar
  • 143
4 votes

My parents claim they cannot pay for my college education; what are my options?

Go International. There are many countries who offer free or cheap tuition at all levels. Some countries only subsidize education for their citizens, but others do it for international students as ...
Aubreal's user avatar
  • 1,052
3 votes

3.5% Interest Student Loan or use all of my savings on Tuition?

If you 1) own or co-own a new business in Ontario or 2) work for or volunteer with a not-for-profit organization, you are most likely eligible to extend your grace period an additional 6 months. This ...
user3451821's user avatar
3 votes
Accepted

As a parent of a high school student, what should my short-term cash policy be to optimize my college costs?

There is no simple answer to your question. It depends on many things, perhaps most notably what college your daughter ends up going to and what kind of aid you hope to receive. Your daughter will ...
BrenBarn's user avatar
  • 24k
3 votes
Accepted

How are taxes calculated on tuition reimbursement above $5250?

(a) In the long run, it doesn't matter. If they withheld too much, you'll get it back when you file your income taxes next year. Of course you may prefer to have the money now rather than next May. (...
Jay's user avatar
  • 22.8k
3 votes
Accepted

Paying someone's college tuition to avoid gift taxes: how do I show the payment is applied to tuition, not other fees?

You don't have to show anything. Just make sure the amount you give doesn't exceed the amount of the tuition portion plus the max you can gift per year. For example, suppose the student's yearly ...
TTT's user avatar
  • 47.2k
3 votes

My parents claim they cannot pay for my college education; what are my options?

I don't know the details on this, but you should research in detail the FAFSA rules on whether there are any conditions under which you can exclude parents' income from consideration. Certainly this ...
R.. GitHub STOP HELPING ICE's user avatar
3 votes

tuition paid by grandparents directly to college

You aren't involved. You are neither receiving money from the grandparents nor giving any money to your daughter. What tax liabilities your daughter's grandparents might be subject to depends on ...
chepner's user avatar
  • 4,466
3 votes

Do I need to file a tax return if I am a nonfiler college student?

Your tax-free scholarship is tax free as long as you spend it on the specified expenses. Any amounts spent on other expenses is taxable, and should be reported on a form 1040. From this page: ...
C.S.'s user avatar
  • 715
2 votes
Accepted

Federal Aid and Tuition Reimbursement at work

(in fact, we've been getting more money than our tuition costs, which somewhat concerns me) Pell Grants are designated to assist those in need to attend college. When I went there were some ...
Pete B.'s user avatar
  • 76.7k
2 votes

Do I not qualify for any education tax breaks?

The Lifetime Learning Credit is $57k - $67k, single and $114k - $134k, married filing jointly. Are you married by any chance? I'm assuming, no or you would have mentioned that. Just making sure. Best ...
trying2code's user avatar
2 votes

Payment of tuition in reference to gift tax

The exception is for tuition paid directly to the school on your behalf. So room/board/fees/books/etc. don't count. However, he can gift the annual $15,000 (2018) in addition to any amount paid ...
Hart CO's user avatar
  • 70.5k

Only top scored, non community-wiki answers of a minimum length are eligible