[goodnesswins]

Tell me who your brother's accountant is....I need to give THAT name to a divorced girlfriend of mine - her a** of an ex refuses to contribute AT ALL to his two kids education (he's remarried, after carrying on with her first)....anyway, long story short, my friend can get NO HELP from the gov't (loans) for her kids education, because she almost owns her house, even though she makes only about 30K a year.

[sitetest]

Dear goodnesswins,

Well, student loans for college are generally available without means testing. I found some information here:

http://www.ecampustours.com/payingcollege/studentloans/federalstudentloans.htm

Here is an excerpt:

"Federal Unsubsidized Stafford Loans

"Unlike Federal Subsidized Stafford Loans, Unsubsidized Stafford Loans are not based on need or income. Students and families of all income levels have access to federal guaranteed loans for college. Loan limits and interest rates are the same as the Subsidized Stafford Loan; however, you are responsible for all interest from the day the loan is made. Many lenders can capitalize the accrued interest (add it to the principal) when repayment begins. This saves you money because you will not be repaying 'interest on interest' while in school.

"Federal PLUS Loan

"Federal PLUS Loans (Parent Loan for Undergraduate Students) are also available for your educational costs if you are enrolled at least half-time at an eligible institution, but the loan is made to your parents. Eligibility is not based on need or income, but parents must not have an adverse credit history. A parent may borrow up to the cost of education less any other financial aid awarded with repayment beginning within 60 days of loan disbursement."

Here are some government links about these programs:

http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp?tab=funding

http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp?tab=funding

As you can see, student loans are available to pretty much anyone, although subsidized loans are means-tested.

However, if your friend truly has an income of only around $30,000, and she has two children in college, I have a hard time believing that she would not qualify for the subsidized loan program.


sitetest