<p>Earlier, I posted in the Swarthmore forum about my poor financial aid package and financial dilemma. I've written letters, emails, made phone calls, visited the financial aid office and more to try to negotiate for a better deal at Swarthmore. I've contacted both the dean and the director of financial aid in hopes of squabbling more money. Unfortunately, my efforts failed.</p>
<p>The more I looked to make Swarthmore affordable, the more it seemed impossible. Ever since my visit to Ride the Tide(admit weekend), I've been trying to convince myself that maybe I'll be just as happy elsewhere, slowly pushing Swat away. Undergrad is simply what I make of it, and med school will be what really matters in the end.</p>
<p>But as I spoke with my family tonight, we've started to consider that maybe my parents can pay to the best of their abilities while I take out $10k+ of loans in my name. My parents have always been about sacrifices, and I feel bad having to put this sort of financial pressure on them if I choose to make this decision. Binding myself to $10k+ in loans per year does not ease my anxiety either.</p>
<p>I suppose what I really want to know is...</p>
<p>Is it worth accumulating over $10k+/year in loans to attend Swarthmore? I feel that Swarthmore is truly where I want to go, the college I'd be happiest. But something tells me that it's more important to help my family out.</p>
<p>I'd like some advice from current students and any parents who are experiencing a similar situation or who are knowledgable about loans.</p>
<p>I'm not very educated in loans and such, but I do hope to make a wise decision.</p>
<p>Please please help as I only have this last day to really make my decision.</p>
<p>Considering working part time during your studies. The on-campus jobs generally pay a lot more than minimum wage, and can help financial your education (working $10/hr at 10hrs a week = ~$3000), bringing the 4 year loan total to $28k. Find an internship/job each summer would total another $2k-$5k (depending), reducing the $28k by $6-15k which leaves $13-22k. Assume you live with your parents for a year right after college working at a job with a $40k salary, would can pay off the $13k within a year (assuming your loans are subsidized).</p>
<p>Also, if your financial aid package is very small, you might want to consider searching for outside scholarships. At first, they will reduce the school's financial aid, but as soon as it surpasses it, it reduces tuition. Also, if you can take loans from Swarthmore instead of a bank, you can choose outside scholarships to first reduce your school debt. Of course, I don't know about specific Swarthmore policies.
If you want to look for outside scholarships, go to <a href="http://www.fastweb.com%5B/url%5D">www.fastweb.com</a> (or org?)</p>
<p>What are your other choices in terms of colleges & financing? </p>
<p>$40K over 4 years is a lot of debt - but the relevant question may be, is Swarthmore worth $X more than __________.</p>
<p>Well, I'm not really considering any other privates....because they are also far too expensive. But Swarthmore was my number one choice....and I'm still trying trying trying to see if it's possible.</p>
<p>Otherwise, I'm considering UC Berkeley, a good institution that is considerably cheaper (I think less than half the cost of Swat), but the environment is also very different.</p>
<p>Ahhh..I'm torn.</p>
<p>I'd suggest trying to make an objective list of what Swarthmore offers that Berkeley doesn't, and try to attach a cost value to those items. If there are some areas where you think Berkeley is better, then list those as well - and use that to balance things out.</p>
<p>I can't tell you because it really depends on your own preferences, your personality, & your intended course of study. But I'm just trying to suggest a way to objectify it. You will be living with this debt for years to come - you really need to figure out if it worth it to you.</p>
<p>Senoritta Lavietta:</p>
<p>You've talked to your family and ur family said they would cover the rest of the college cost except your 10K/year loan. That's it- What are you waiting for? 40K debt is manageable and well worthy, considering the return value of top LACs like Swathmore. Now fill out that reply card, and head into neaby post office box.</p>
<p>Looks like youre pre-med; you will find ample research opportunities pertaining to your medical school requirements in top LAC like Swathmore.
Go spread your wings, learn, explore new things, and keep writing.</p>
<p>Good Luck!!!</p>
<p>I agree with Rabban - You gotta keep in mind that there is still hope of you winning outside scholarships to reduce the cost of your future debt. And plus, there are many other factors to include when dealing with a potential debt problem. There are debt scholarships! </p>
<p>If you believe that Swarthmore is the one for you, and I commend you on getting in, even though not never many people apply to that school, and that's why their acceptance rate is so low, then you should go for it. </p>
<p>I can think of six scholarships off the top of my head, online, that could pay off your debt in a matter of seconds. You just have to take the time and effort to go out there and do your best in finding those solutions. And yeah, Swarthmore is quite expensive. It is TRULY expensive. </p>
<p>I was in your same position; I had to choose between the University of Chicago and Texas Tech University. Of course, U of C costs so much more than TTU! But, I made the sacrifice, because I know that Texas Tech is just as good, and it was a university filled with great people. For me, it was like choosing two different worlds. I won't go in-depth as to what I meant by that, but all I have to say, is go with your heart and keep a look out for those scholarships.</p>
<p>Be aware, cost goes up every and probably so will your loan. Working lots of hours while trying to do pre-med at Swarthmore is going to be mighty difficult.</p>
<p>but also think about it this way. if you end up going to med school, the 20k or 30k debt you will have accumulated (considering you earn 4000 during summer and school) will be very little compared to your overall medical school debt. so, in the end, the school that gives you more med opportunities (and you're happier at) will probably be the better school</p>
<p>That's true, but mastering the art of multitasking is really powerful, and useful for life. I'd say even working 5hrs a week isn't asking for a lot. Honestly you can easily forego 5 hours of fun time per week and replace it with work, and you probably won't be studying all the time during your college career- the best time of our lives... right?</p>
<p>Pre-med at Swat, that doesn't sound like a whole lot of fun</p>