The quick answer to the title of this article is, yes, you can take out a student loan without accessing your parents’ financial information. However, it’s a much more difficult process. Luckily for you, we’re going to lay it all for you here in this article.
Class yourself as an independent student
When you apply for a federal student loan as an independent student, you don’t need any information from your parents. Plus, you can borrow up to $57,000 this way, rather than the standard $31,000 you’d get as a dependent student.
To gain ‘independent status,’ you’ll need to fill out a form for the FAFSA. If you’re able to honestly answer any of the dependency questions with a ‘yes,’ then for the purposes of your student loan, you’re considered ‘independent.’
What if you’re a dependent student?
The main sticking point with the above advice is that if you’re legitimately a dependent student without access to your parents’ information, you can’t just lie to say you’re ‘independent.’ Instead, you’ll have to get a dependency override.
This requires you to send over the necessary documents to the U.S. Department of Education. However, you should note, this avenue is usually only an option for students suffering from irregular family circumstances, such as abandonment or abuse.
Apply for financial aid
Last but not least, if you’re not a viable candidate for a dependency override, you can state; “I am unable to provide information about my parent(s).” on your FAFSA. Then, indicate via the appropriate section on the form that you’re not suffering from any special circumstances prohibiting your ability to provide your parent’s financial history.
In these circumstances, you’re only entitled to receive an unsubsidized federal loan, and that’s awarded at your college’s discretion.