yconic - What is Financial Need?
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What is Financial Need?

A photo of Tantrum Tantrum
How much net income do your parents need to make together in order for you to qualify for financial need?
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5 replies
 
A photo of RushtonK RushtonK
Don't hold me to this, but when I called in to see if I qualified I was told I didn't because the man I live with makes over $2400 a month.
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A photo of scoobygiggles scoobygiggles
Sometimes it goes beyond your parents' income. My school, for example, doesn't consider you eligible for Financial Aid unless you apply, are approved, and receive OSAP. Check with your financial aid office for your parents' income, as well as the OSAP.
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A photo of ktel ktel
Could depend on more factors than income (such as the number of dependents)
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A photo of Torres_09 Torres_09
I think their way of determining financial need is flawed. If i remember correctly, not once did they ask me how much income actually ends up in my family's pockets. Factors such as mortgage, car loans or just loans in general affect how much money is available for you to fund your education. Even if my family's income is higher than another family, if the other family has a very small amount of debt, they could have access to more money than i ultimately do. Anyways, just throwing this out there, if anybody has another view on this, let me know as I don't want to be angry at the government forever :)
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A photo of ktel ktel
Why should they have to ask how much money ends up in your pocket? Buy a cheaper house, don't take out loans, etc. The government isn't going to give you subsidized loans because you didn't spend your money properly. They're going to give you loans because you don't have very much to spend.

Going into debt is a choice.
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