What Happens to Student Whose Parents Can't Pay for College as Expected?

Question: I will be a freshman at USC in January 2012. I never applied for financial aid because my parents said not to. However, recently my parents told me that their finances are running short and that I should apply for financial aid. The deadline has passed, so what should I do?

I’m sorry to hear of your plight. It can be stressful to learn that your family’s financial picture isn’t as rosy as you’d thought, and you’re probably angry at your parents for springing this on you at such a date late. Unfortunately, once college budgets have been finalized, there is usually not a lot of wiggle-room to make late adjustments.

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