Question for the Money Doctors
Question submitted on May 31, 2012.
QuestionMy sons best friend is currently living with us, his mother died and he was receiving her social security survivor benefits. He received a letter from the s.s. office stating his benefits would end on June 1, 2012 due to his graduating high school. He wants to continue his education and go to college but we do not have the resources to pay for 3 children to attend college at the same time. He is willing to get a part-time job and we are filing for his financial aid, however I was wondering if there are any programs out there to help or anyway to enforce continuation of his survivor benefits while he is a full-time student?
Unfortunately, survivor benefits are not paid to students beyond secondary school/high school. However, there are many scholarship and loan programs that offer significant financial assistance, depending on his specific circumstances. If the student has no relationship with his father, or if the father passed away, he may be classified as independent. Only his income and assets would be considered when applying for financial aid. Start with filling out the Free Application for Federal Student Aid (FAFSA). This form is used not only to disburse federal aid funds, but is used by colleges and universities to designate awards based on both merit and need. Contact the financial aid administrator at the college who will guide and assist the student on an individual basis.
For additional information visit http://www.360financialliteracy.org/