father makes $$$$, loan question

[Janit0r]

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hey guys..this isn't a troll post i just really wanted to be anonymous asking if you have an experience or advice for this situation

my father makes ~$16M a year, but due to recent family developments he considers me dead to him. (hypothetically, maybe my younger sister and i "fell" a lot as kids; making multimillions annually he would obviously be powerful and well-connected, so nothing would came of our "falls" over the years; there would be unwritten rules that this is supposed to "stay in the family" and if I spoke up after my mom "fell" last month i would be considered disloyal and hence dead to him, she would be no help as she's been "falling" for decades, etc, etc, hypothetically)

i've been accepted to four schools, none of which i'll get any aid at obviously. i'm graduating undergrad in may and i only have about $700 to my name (everything else is in his name and i have no access to it).

i'm obviously willing to take out the loans and be massively in debt like everyone else...but will a bank even give me a loan? is it as simple as just finding another party to cosign for me? or do i have to worry about being unable to pay for school now in the fall?

 

[TMP-SMX]

Sounds like a fun family.

Anyway, are you going to medical school next year? You didn't specify. If that's the case, you'll get full stafford federal loans up to $40,500 per year and if you need more you can get grad plus loans up to your cost of attendance. You'll never need private loans. So don't worry about it. We all have to take out our federal loans.

 

[nlax30]

You'll be able to take out the usual federal loans available. When you fill out the FAFSA one of the sections is used to determine if you have to provide parental info, you don't have to if you answer yes to any of those questions there.... one of which asks if you're starting a Master's or Doctorate program.

http://www.fafsa.ed.gov/before012.htm

 

[sunshinepayton]

Don't you have a trust fund??? And besides do you really want to live off daddy's money for the rest of your life, i say get a loan, be independent, stand on your own two feet...etc..etc....

 

[Meade]

my father makes ~$16M a year

You could have easily said your father is a 'millionaire' instead of having me look at your post and wonder how I can get my hands on that $16M he's making.

But for now, let me live in my little place I call, "hell."

 

[Bleurberry]

hey guys..this isn't a troll post i just really wanted to be anonymous asking if you have an experience or advice for this situation

my father makes ~$16M a year, but due to recent family developments he considers me dead to him. (hypothetically, maybe my younger sister and i "fell" a lot as kids; making multimillions annually he would obviously be powerful and well-connected, so nothing would came of our "falls" over the years; there would be unwritten rules that this is supposed to "stay in the family" and if I spoke up after my mom "fell" last month i would be considered disloyal and hence dead to him, she would be no help as she's been "falling" for decades, etc, etc, hypothetically)

i've been accepted to four schools, none of which i'll get any aid at obviously. i'm graduating undergrad in may and i only have about $700 to my name (everything else is in his name and i have no access to it).

i'm obviously willing to take out the loans and be massively in debt like everyone else...but will a bank even give me a loan? is it as simple as just finding another party to cosign for me? or do i have to worry about being unable to pay for school now in the fall?

Wow. That's dramatic. Sorry to hear you're having such family strife.
Yep, you're fine, you just won't be eligible for need-based loans.
Good luck.